Whale Rock Capital Management Lowers stake in Ellie Mae Inc (ELLI)

Ellie Mae Inc (ELLI) : Whale Rock Capital Management reduced its stake in Ellie Mae Inc by 23.4% during the most recent quarter end. The investment management company now holds a total of 858,454 shares of Ellie Mae Inc which is valued at $79,784,715 after selling 262,291 shares in Ellie Mae Inc , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Ellie Mae Inc makes up approximately 6.41% of Whale Rock Capital Management’s portfolio.

Other Hedge Funds, Including , Pier Capital boosted its stake in ELLI in the latest quarter, The investment management firm added 25,276 additional shares and now holds a total of 57,490 shares of Ellie Mae Inc which is valued at $4,882,626. Ellie Mae Inc makes up approx 0.87% of Pier Capital’s portfolio.Blackrock Advisors boosted its stake in ELLI in the latest quarter, The investment management firm added 33,295 additional shares and now holds a total of 72,014 shares of Ellie Mae Inc which is valued at $7,575,153. Ellie Mae Inc makes up approx 0.01% of Blackrock Advisors’s portfolio.Swiss National Bank boosted its stake in ELLI in the latest quarter, The investment management firm added 2,500 additional shares and now holds a total of 53,200 shares of Ellie Mae Inc which is valued at $5,596,108. Ellie Mae Inc makes up approx 0.01% of Swiss National Bank’s portfolio. Td Asset Management Inc added ELLI to its portfolio by purchasing 7,682 company shares during the most recent quarter which is valued at $786,560. Capital Fund Management S.a. added ELLI to its portfolio by purchasing 8,103 company shares during the most recent quarter which is valued at $847,817. Ellie Mae Inc makes up approx 0.02% of Capital Fund Management S.a.’s portfolio.

Ellie Mae Inc opened for trading at $81.73 and hit $83.05 on the upside on Monday, eventually ending the session at $82.26, with a gain of 0.62% or 0.51 points. The heightened volatility saw the trading volume jump to 15,05,495 shares. Company has a market cap of $2,761 M.

On the company’s financial health, Ellie Mae Inc reported $0.72 EPS for the quarter, beating the analyst consensus estimate by $ 0.13 according to the earnings call on Oct 27, 2016. Analyst had a consensus of $0.59. The company had revenue of $100.38 million for the quarter, compared to analysts expectations of $92.50 million. The company’s revenue was up 45.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.45 EPS.

Many Wall Street Analysts have commented on Ellie Mae Inc. Shares were Downgraded by RBC Capital Mkts on Nov 17, 2016 to ” Sector Perform” and Lowered the Price Target to $ 90 from a previous price target of $114 .Ellie Mae Inc was Initiated by JP Morgan to “Overweight” on Sep 9, 2016.

Ellie Mae Inc. (Ellie Mae) is a provider of on-demand software solutions and services for the residential mortgage industry in the United States. The Company’s Encompass mortgage management solution provides one system of record that allows banks credit unions and mortgage lenders to originate and fund mortgages. The Encompass mortgage management solution handles functions involved in running the business of originating mortgages including customer relationship management; loan processing; underwriting; preparation of application disclosure and closing documents; funding and closing the loan for the borrower; compliance with regulatory and investor requirements and overall enterprise management that provides one system of record. The Company delivers Encompass software in an on-demand Software-as-a-Service (SaaS). The Company also hosts the Ellie Mae Network.

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