Ellie Mae Inc (ELLI) Files Form 4 Insider Selling : Limin Hu Sells 5,000 Shares

Ellie Mae Inc (ELLI): Limin Hu , EVP, CTO of Ellie Mae Inc sold 5,000 shares on Sep 12, 2016. The Insider selling transaction was reported by the company on Sep 14, 2016 to the Securities and Exchange Commission. The shares were sold at $95.39 per share for a total value of $476,063.50 , the company said in a SEC Form 4 Filing.

Other Insider transactions have been reported by the company according to SEC Form 4, on Sep 14, 2016, Limin Hu (EVP, CTO) sold 5,000 shares at $95.39 per share price.On Sep 7, 2016, Jonathan Corr (President & CEO) sold 3,500 shares at $98.99 per share price.Also, On Sep 6, 2016, Edgar Luce (Chief Financial Officer) sold 5,000 shares at $97.04 per share price.On Sep 1, 2016, Brian E. Brown (Sr. VP, General Counsel) sold 137 shares at $96.70 per share price.

Shares of Ellie Mae Inc (ELLI) ended Monday, Sep 12, 2016 session in red amid volatile trading. The shares closed down -0.49 points or -0.51% at $95.54 with 318,609 shares getting traded. Post opening the session at $95.21, the shares hit an intraday low of $94.52 and an intraday high of $95.83 and the price vacillated in this range throughout the day. The company has a market cap of $2,887 M and the number of outstanding shares has been calculated to be 30,215,306 shares. The 52-week high of Ellie Mae Inc is $102.63 and the 52-week low is $57.88.

Ellie Mae Inc Money Flow Index Chart

Company has been under the radar of several Street Analysts.Ellie Mae Inc is Initiated by JP Morgan to Overweight. The Rating was issued on Sep 9, 2016.Ellie Mae Inc is Reiterated by Barclays to Equal Weight and the brokerage firm has raised the Price Target to $ 110 from a previous price target of $97 .The Rating was issued on Jul 29, 2016.Ellie Mae Inc is Reiterated by Needham to Buy and the brokerage firm has raised the Price Target to $ 125 from a previous price target of $110 .The Rating was issued on Jul 29, 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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