Riverbridge Partners Lowers stake in Ellie Mae Inc (ELLI)

Ellie Mae Inc (ELLI) : Riverbridge Partners reduced its stake in Ellie Mae Inc by 5.18% during the most recent quarter end. The investment management company now holds a total of 476,525 shares of Ellie Mae Inc which is valued at $44,088,093 after selling 26,031 shares in Ellie Mae Inc , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Ellie Mae Inc makes up approximately 0.89% of Riverbridge Partners’s portfolio.

Other Hedge Funds, Including , California State Teachers Retirement System reduced its stake in ELLI by selling 544 shares or 0.87% in the most recent quarter. The Hedge Fund company now holds 61,892 shares of ELLI which is valued at $5,726,248. Ellie Mae Inc makes up approx 0.01% of California State Teachers Retirement System’s portfolio. Winslow Evans Crocker added ELLI to its portfolio by purchasing 500 company shares during the most recent quarter which is valued at $48,950. Ellie Mae Inc makes up approx 0.01% of Winslow Evans Crocker’s portfolio.Van Berkom Associates reduced its stake in ELLI by selling 16,926 shares or 3.16% in the most recent quarter. The Hedge Fund company now holds 519,256 shares of ELLI which is valued at $50,835,162. Ellie Mae Inc makes up approx 2.22% of Van Berkom Associates’s portfolio.

Ellie Mae Inc opened for trading at $93.02 and hit $98.85 on the upside on Thursday, eventually ending the session at $98.5, with a gain of 6.46% or 5.98 points. The heightened volatility saw the trading volume jump to 32,42,175 shares. Company has a market cap of $2,976 M.

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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