Garelick Capital Partners Lp buys $6,535,340 stake in Ellie Mae Inc (ELLI)

Ellie Mae Inc (ELLI) : Garelick Capital Partners Lp scooped up 24,905 additional shares in Ellie Mae Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 10, 2016. The investment management firm now holds a total of 66,728 shares of Ellie Mae Inc which is valued at $6,535,340.Ellie Mae Inc makes up approximately 4.43% of Garelick Capital Partners Lp’s portfolio.

Other Hedge Funds, Including , Blackrock Group Ltd boosted its stake in ELLI in the latest quarter, The investment management firm added 609 additional shares and now holds a total of 17,181 shares of Ellie Mae Inc which is valued at $1,682,707. Scout Investments added ELLI to its portfolio by purchasing 170,635 company shares during the most recent quarter which is valued at $16,722,230. Ellie Mae Inc makes up approx 0.44% of Scout Investments’s portfolio.

Ellie Mae Inc closed down -0.21 points or -0.22% at $96.18 with 2,04,949 shares getting traded on Friday. Post opening the session at $96.28, the shares hit an intraday low of $95.64 and an intraday high of $96.42 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Ellie Mae Inc reported $0.64 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.55. The company had revenue of $90.10 million for the quarter, compared to analysts expectations of $86.10 million. The company’s revenue was up 36.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.48 EPS.

Many Wall Street Analysts have commented on Ellie Mae Inc. Company shares were Reiterated by Barclays on Jul 29, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 110 from a previous price target of $97 .Company shares were Reiterated by Needham on Jul 29, 2016 to “Buy”, Firm has raised the Price Target to $ 125 from a previous price target of $110 .

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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