As Ellie Mae Inc (NYSE:ELLI) Price Declined, Shareholder Echo Street Capital Management Llc Trimmed Position by $21.37 Million

May 17, 2018 - By Sonya McDaniel

Ellie Mae, Inc. (NYSE:ELLI) Corporate LogoBig Money Sentiment increased to 0.99 in 2017 Q4. It has change of 0.05, from 2017Q3’s 0.94. The ratio is positive due to ELLI positioning: 23 sold and 62 reduced. 32 funds bought holdings and 52 increased holdings. Investors holded 35.35 million in 2017Q3 but now own 37.95 million shares or 7.38% more. Amer Group stated it has 0.01% in Ellie Mae, Inc. (NYSE:ELLI). Moreover, Financial Bank Of Montreal Can has 0% invested in Ellie Mae, Inc. (NYSE:ELLI). 64,200 were reported by Mackenzie. State Of Wisconsin Invest Board accumulated 33,000 shs. Whetstone Cap Advsrs holds 93,189 shs. United Capital Advisers Ltd Liability reported 2,399 shs or 0% of all its holdings. Teacher Retirement System Of Texas reported 11,676 shs stake. Brown Brothers Harriman And Company holds 0% in Ellie Mae, Inc. (NYSE:ELLI) or 25 shs. Waddell & Reed has invested 0.09% in Ellie Mae, Inc. (NYSE:ELLI). Aqr Capital Mgmt Ltd Liability reported 14,220 shs or 0% of all its holdings. Wasatch, Utah-based fund reported 25,384 shs. Brown Advisory accumulated 7,076 shs. First Mercantile Trust holds 0.11% of its capital in Ellie Mae, Inc. (NYSE:ELLI) for 6,437 shs. Manufacturers Life The owns 25,563 shs. Proshare Advisors Limited Liability Com holds 0% of its capital in Ellie Mae, Inc. (NYSE:ELLI) for 6,477 shs.

ELLI registered $9.84 million net activity with 0 insider buys and 35 selling transactions since December 7, 2017. On Wednesday, May 2 $19,600 worth of stock was sold by LaVay Matthew. Shares for $42,757 were sold by BROWN BRIAN E. on Monday, April 2. The insider SCHREINER GATES CATHLEEN sold $251,333. The insider Anderman Sigmund sold $284,693. On Monday, February 26 1,473 shs were sold by TYRRELL JOSEPH P., worth $134,960. 2,029 shs valued at $183,180 were sold by HIRSCH PETER on Thursday, February 15.

Greg Poole’s holdings in Ellie Mae Inc (NYSE:ELLI) is decreased by 90.99% based on its latest 2018Q1 regulatory filing with the SEC. 234,868 shares were sold by Echo Street Capital Management Llc as the company’s stock declined 0.57% with the market. The technology company at the end of 2018Q1 was valued at $2.14M. It’s down from 258,135 at the end of the previous reported quarter. Now it had 23,267 shares held by the hedge fund run by Greg Poole. Ellie Mae Inc has $3.50B market cap. ELLI touched $101.99 during the last trading session after $0.72 change.Currently Ellie Mae, Inc. is downtrending after 6.50% change in last May 17, 2017. ELLI has also 475,733 shares volume. ELLI underperformed the S&P 500 by 18.05%.

About $2.68 billion and $3.43 billion US Long portfolio Echo Street Capital Management Llc operates. It upped its stake in Cognizant Technology Solutio (NASDAQ:CTSH) by 243,787 shares to 306,874 shares, valued at $24.70 million in 2018Q1, according to the filing. For a total of 966,437 shares it increased its holding in Meritage Homes Corp (NYSE:MTH) by 315,410 shares in the quarter, and has risen its stake in Moodys Corp (NYSE:MCO).

Greg Poole, founder of Echo Street Capital, is a former employee of Goldman Sachs. He focuses his tactics on special situations, event driven, the real estate sector, and traditional long and short strategies. Echo Street Capital Management Llc is a New York-based hedge fund that was founded by Greg Poole. It had more than $2.68 billion assets under management in November, 2014. Taken from Echo Street Capital Management latest Adv, the fund reported to have 10 full and part-time employees. Among which 9 performing investment advisory and research functions. The hedge fund had between 1-10 clients.

Ellie Mae, Inc. (NYSE:ELLI) Ratings Coverage

Total analysts of 10 have positions in Ellie Mae Inc (NYSE:ELLI) as follows: 4 rated it a “Buy”, 2 with “Sell” and 4 with “Hold”. The positive are 40%. Since November 19, 2017 according to StockzIntelligence Inc Ellie Mae Inc has 13 analyst reports. On Friday, February 9 Bank of America maintained the shares of ELLI in report with “Buy” rating. On Monday, February 5 the rating was maintained by KeyBanc Capital Markets with “Overweight”. On Tuesday, January 9 the rating was upgraded by Barclays Capital to “Overweight”. The company rating was maintained by Morgan Stanley on Tuesday, January 30. On Monday, April 16 the company was downgraded by Bank of America. On Wednesday, January 31 the company was maintained by RBC Capital Markets. On Friday, February 9 the rating was maintained by Needham with “Buy”. On Friday, February 9 the stock has “Hold” rating by Stephens. On Friday, April 27 Compass Point maintained Ellie Mae, Inc. (NYSE:ELLI) with “Sell” rating. On Sunday, November 19 KeyBanc Capital Markets maintained the shares of ELLI in report with “Buy” rating.

Ellie Mae, Inc. provides on-demand software solutions and services for the residential mortgage industry in the United States.The company has $3.50 billion market cap. The firm provides Encompass, a proprietary software solution that combines loan origination and enterprise management software for mortgage originators into a system, as well as access to investors, lenders, and service providers on the Ellie Mae Network.68.91 is the P/E ratio. The Company’s Encompass solutions and services comprise Ellie Mae Total Quality Loan Program that offers fraud detection, valuation, validation, and risk analysis services; Encompass CenterWise, Encompass Compliance Service, and Encompass Docs Solution as integrated components; Encompass Docs Solution, a disclosure and closing document preparation solution; and Encompass Compliance Service to analyze mortgage loan data for compliance with consumer protection laws and institutionally mandated compliance policies.

Ellie Mae, Inc. (NYSE:ELLI) Institutional Investors Chart

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