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

May 17, 2018 - By Madeline Delgado

Ellie Mae, Inc. (NYSE:ELLI) Corporate LogoDuring 2017 Q4 the big money sentiment increased to 0.99. That’s change of 0.05, from 2017Q3’s 0.94. 23 investors sold all, 62 reduced holdings as ELLI ratio is positive. 52 rose holdings while 32 funds bought holdings. Funds hold 37.95 million shares thus 7.38% more from 2017Q3’s 35.35 million shares. Brown Brothers Harriman & has invested 0% in Ellie Mae, Inc. (NYSE:ELLI). Baillie Gifford And holds 0.09% or 839,372 shs. 22,811 were reported by Gp Incorporated. Susquehanna Limited Liability Partnership reported 21,720 shs stake. Moreover, Ameritas Investment Prns Inc has 0.01% invested in Ellie Mae, Inc. (NYSE:ELLI). Ftb Advisors Inc reported 130 shs stake. Tradewinds Cap Mngmt Lc accumulated 82 shs. Atria Ltd Llc has 2,917 shs. Carroll Fincl Assocs accumulated 0% or 66 shs. Paradigm Asset Mngmt Co Limited Liability stated it has 600 shs or 0.01% of all its holdings. 1,150 are owned by Cubist Systematic Strategies Ltd. Moreover, Delta Asset Mngmt Llc Tn has 0% invested in Ellie Mae, Inc. (NYSE:ELLI) for 15 shs. Ahl Prtnrs Llp owns 4,785 shs. Morgan Stanley, a New York-based fund reported 569,954 shs. Tci Wealth Advisors Inc holds 0% or 10 shs in its capital.

ELLI registered $9.84 million net activity with 0 insider purchases and 35 insider sales since December 7, 2017. TYRRELL JOSEPH P. sold $51,690 worth of Ellie Mae, Inc. (NYSE:ELLI) on Monday, April 2. Corr Jonathan sold $288,161 worth of Ellie Mae, Inc. (NYSE:ELLI) or 3,113 shs on Tuesday, March 6. On Monday, April 2 Shares for $67,088 were sold by HIRSCH PETER. Another trade for 1,728 shs valued at $172,800 was sold by BLASING KAREN. On Thursday, February 15 the insider SCHREINER GATES CATHLEEN sold $251,333. LaVay Matthew had sold 629 shs worth $56,690.

Greg Poole decreased its holdings by 90.99% in Ellie Mae Inc (NYSE:ELLI), according to 2018Q1 SEC form. The company’s stock Sank 0.57% while Echo Street Capital Management Llc sold 234,868 shares. The technology company reported $2.14 million value for the 2018Q1. Now the hedge fund run by Greg Poole is holding 23,267 shares, compared to the 258,135 from the previous quarter. $3.50B is Ellie Mae Inc’s MC. ELLI is hitting $101.99 during the last trading session, after decreased 0.70%.Currently Ellie Mae, Inc. is downtrending after 6.50% change in last May 17, 2017. ELLI has also 475,733 shares volume. The stock underperformed the S&P500 by 18.05%.

About $2.68 billion and $3.43 billion US Long portfolio Echo Street Capital Management Llc manages. According to a filing the fund increased its stake in Regency Ctrs Corp (NYSE:REG) by 301,408 shares to 346,308 shares, valued at $20.43 million in 2018Q1. Echo Street Capital Management Llc has risen its stake in Lamar Advertising Co New (NASDAQ:LAMR) and also increased its holding in American Homes 4 Rent (NYSE:AMH) by 598,513 shares in the quarter, for a total of 3.71M shares.

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

In total 10 analysts cover Ellie Mae Inc (NYSE:ELLI). “Buy” rating has 4, “Sell” are 2, while 4 are “Hold”. (NYSE:ELLI) has 40% bullish analysts. 13 are the (NYSE:ELLI)’s ratings reports on May 17, 2018 according to StockzIntelligence Inc. The stock rating was upgraded by Zelman to “Hold” on Friday, April 20. In Friday, April 27 report Compass Point maintained it with “Sell” rating and $6000 target. On Monday, April 16 Bank of America downgraded Ellie Mae, Inc. (NYSE:ELLI) to “Neutral” rating. The stock rating was maintained by Morgan Stanley with “Equal-Weight” on Tuesday, January 30. On Thursday, April 12 the stock of Ellie Mae, Inc. (NYSE:ELLI) earned “Underperform” rating by Wedbush. On Monday, February 5 the firm has “Overweight” rating given by KeyBanc Capital Markets. The company rating was maintained by Needham on Friday, February 9. In Wednesday, January 31 report RBC Capital Markets maintained it with “Buy” rating and $106.0 target. On Sunday, November 19 the firm earned “Buy” rating by KeyBanc Capital Markets. On Friday, February 9 Stephens maintained the shares of ELLI in report with “Hold” rating.

Ellie Mae, Inc. provides on-demand software solutions and services for the residential mortgage industry in the United States.The firm is worth $3.50 billion. 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.The P/E ratio is 68.91. 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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