Shares of Ellie Mae (ELLI) Sees Large Outflow of Money

Ellie Mae (ELLI) : Money flow in the Ellie Mae (ELLI) stock was negative (2.28 million) on Wednesday, which shows that the investors used the strength in the stock price to reduce their holdings. The total traded value on upticks was $2.45 million, compared to $4.74 million on downticks. The total uptick to downtick ratio was 0.52, indicating the underlying weakness in the stock. Even in block trades, money flow was negative ($2.95 million), indicating selling on the strength. Downtick transaction value in block trades amounted to $2.95 million, indicating persistent selling. Ellie Mae (ELLI) traded $1.07 higher at $97.27 gaining 1.11% over the previous days close.


Also, Barclays downgrades its view on Ellie Mae (NYSE:ELLI) according to the research report released by the firm to its investors. The shares have now been rated Equal-weight by the stock experts at the ratings house. Earlier, the shares had a rating of Overweight. Barclays maintains the current price target of $97 per share on Ellie Mae . The rating by the firm was issued on July 5, 2016.

Ellie Mae (NYSE:ELLI): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $97.06 and $95.77 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $98.40. The buying momentum continued till the end and the stock did not give up its gains. It closed at $97.61, notching a gain of 1.47% for the day. The total traded volume was 308,053 . The stock had closed at $96.20 on the previous day.

The stock has recorded a 20-day Moving Average of 6.21% and the 50-Day Moving Average is 12.74%. In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director officer (President & CEO) of Ellie Mae Inc, Corr Jonathan had sold 3,500 shares worth of $318,955 in a transaction dated July 6, 2016. In this transaction, 3,500 shares were sold at $91.13 per share.

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 Companys 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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