Here is What Hedge Funds Think About Ellie Mae Inc (NYSE:ELLI)

Ellie Mae Inc (NYSE:ELLI) shareholders have witnessed a decrease in enthusiasm from smart money recently.

In today’s marketplace, there are a multitude of gauges investors can use to watch their holdings. Some of the most under-the-radar are hedge fund and insider trading activity. At Insider Monkey, our studies have shown that, historically, those who follow the best picks of the best hedge fund managers can outclass the S&P 500 by a very impressive margin (see just how much).

Ellie Mae Inc (NYSE:ELLI)Equally as important, optimistic insider trading activity is another way to break down the financial markets. Just as you’d expect, there are a number of reasons for a bullish insider to sell shares of his or her company, but only one, very obvious reason why they would initiate a purchase. Plenty of academic studies have demonstrated the market-beating potential of this tactic if you know what to do (learn more here).

Keeping this in mind, we’re going to take a gander at the recent action surrounding Ellie Mae Inc (NYSE:ELLI).

How have hedgies been trading Ellie Mae Inc (NYSE:ELLI)?

Heading into 2013, a total of 12 of the hedge funds we track were long in this stock, a change of -25% from the previous quarter. With the smart money’s capital changing hands, there exists a few noteworthy hedge fund managers who were increasing their stakes substantially.

Of the funds we track, Driehaus Capital, managed by Richard Driehaus, holds the biggest position in Ellie Mae Inc (NYSE:ELLI). Driehaus Capital has a $25 million position in the stock, comprising 1% of its 13F portfolio. The second largest stake is held by ZWEIG DIMENNA PARTNERS, managed by Joe DiMenna, which held a $21 million position; 1% of its 13F portfolio is allocated to the stock. Some other peers that are bullish include Donald Chiboucis’s Columbus Circle Investors, Jim Simons’s Renaissance Technologies and Philip Hempleman’s Ardsley Partners.

Seeing as Ellie Mae Inc (NYSE:ELLI) has experienced a declination in interest from hedge fund managers, it’s safe to say that there lies a certain “tier” of fund managers that decided to sell off their entire stakes last quarter. Interestingly, Matthew Iorio’s White Elm Capital sold off the largest investment of all the hedgies we key on, comprising an estimated $2 million in stock., and Eric Semler of TCS Capital Management was right behind this move, as the fund sold off about $2 million worth. These bearish behaviors are important to note, as total hedge fund interest was cut by 4 funds last quarter.

What have insiders been doing with Ellie Mae Inc (NYSE:ELLI)?

Insider purchases made by high-level executives is particularly usable when the company in focus has experienced transactions within the past 180 days. Over the latest six-month time period, Ellie Mae Inc (NYSE:ELLI) has experienced zero unique insiders purchasing, and 7 insider sales (see the details of insider trades here).

With the returns shown by the aforementioned strategies, everyday investors should always monitor hedge fund and insider trading sentiment, and Ellie Mae Inc (NYSE:ELLI) shareholders fit into this picture quite nicely.

Click here to learn more about Insider Monkey’s Hedge Fund Newsletter

Insider Monkey’s small-cap strategy returned 29.2% between September 2012 and February 2013 versus 8.7% for the S&P 500 index. Try it now by clicking the link above.

Dividend Stock Alert - Billionaire Robbins' Top Dividend Idea With 70% Upside Potential

Get Paid 3.5% Per Year While Waiting For The Stock Appreciate 70%

Larry Robbins' Glenview Capital Opportunity Fund returned 101.7% in 2013 and Robbins personally made $750 million. The same fund returned 25.3% in 2014. In this FREE REPORT we will share Robbins' top dividend idea that yields 3.5% and has been increasing its dividends for 39 consecutive years. Robbins thinks the stock has the potential to appreciate 70%.

This is a FREE report from Insider Monkey. Credit Card is NOT required.
Click here to Read Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 74 percentage points in 2.5 years. Our beta is only 1.2 (download a FREE newsletter and see the details inside)

Lists

Best Selling Magazines in the World

Shortest People in History

The Most Celebrated Holidays in the World

Most Expensive Handbag Brands in the World

Top Selling Comic Book Issues of this Century

The Most Powerful Women in Politics

Best Paid DJs

Most Rebellious Female Artists

Best Paid TV Actresses of 2014

Best Paid Actors of 2014

Most Expensive Horses in the World

Tallest People Ever

Most Encouraging Feminist Celebrities

Best Paid Supermodels of 2014

Top 10 Suburbs for Retirement in 2015

10 Wealthiest Cities in America

Top 10 TED Talks for Entrepreneurs

Best TED Talks on Education

25 Most Dangerous Places to Live in America

Top 10 Ski Resorts in the United States – 2014 List

Top 10 Most Remote Places in the World

Most Visited Museums in the United States

Wealthiest Photographers in the World

Most Famous Gay Athletes

The World’s Most Famous Circuses

Best Hair Stylists

Most Popular NASCAR Drivers

The Best Romance Movies of all Time

The Most Wanted Drug Lords

The Oldest Money Managers

The Greatest Directors in the World

Largest Animals in the World

World’s Most Expensive Desserts

Best Selling Comic Books of All Time

A-list Actors who Sabotaged Their Career

Rappers With a College Degree

The Best Jazz Albums of all Time

The Most Influential Jazz Musicians

The World’s Most Famous Photographers

The Best Oscar-Winning Songs

Most Influential Choreographers Ever

Most Expensive Department Stores in the World

The Most Expensive Stolen Paintings in the World

The World’s Most Expensive Teas

Top Oscar Record Holders

The Most Expensive Flowers in the World

Countries With a Booming Film Industry

Most Expensive Cupcakes in the World

Uncommon European Escapes

The Most Stolen Artists in History

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 129% in 2.5 years!! Wondering How?

Download a complete edition of our newsletter for free!