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.

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

The Top 10 Gold Producing Countries in the World

The 10 Tallest Buildings in the World

The 10 Richest Stand Up Comedians in the World

The 10 Fattest Countries in the World

The 5 Best Summer Jobs for Teens

The 10 Most Religious Countries in the World Keeping the Faith

The 10 Most Educated Countries in the World

The 10 Most Popular Cell Phones in the World

The 10 Drunkest Countries in the World

The 10 Most Expensive Private Schools in the World

The 10 Smallest Countries in the World

Walking Dead Season 5 Spoilers You’ll Wish You Didn’t Know

The 10 Poorest Countries in the World

The 10 Greenest Countries in the World

The Top 10 Countries with the Highest Population in the World

The 10 Most Visited Countries in the World

The Top 10 Star Wars Characters in the Iconic Series

The 10 Most Expensive Android Phones in the World

5 Reasons Why The Illuminati Is Real and a Threat to Society

The 6 Scariest Halloween Costumes Ever Screamed At

The 4 Biggest Hedge Fund Managers in the World Today

The 15 Most Densely Populated Countries in the World

The 10 Biggest Tea Drinking Countries in the World

Top 6 Ways to Improve Your Checkout Process and Close Sales

The 5 Most Profitable Online Businesses You Can Start Today

The 20 Most Profitable Hospitals in the US

The 5 Most Profitable Home Businesses to Start

The 7 Teams that Will Win the Stanley Cup in 2015

The Top 10 Most Expensive Digital Cameras to Snap Stunning Shots With

The 10 Highest Quality Fast Food Restaurants In America Today

The 8 Best Halloween Decorating Ideas to Spook Up Your House

10 Marvel Women that Should Get a Movie Right Now

The 20 Best Remixes of Popular Songs that Will Make You Forget the Originals

7 Most Expensive Cities in the World

5 Least Expensive Cities in the World

10 Celebrities Who Believe In Scientology

10 High Margin Food Products to Build a Business Around

The 10 Most Expensive Clothing Stores in the United States to Get Decked Out At

The 5 Biggest Kickstarter Scams That Swindled Backers’ Donations

The 10 Most Expensive Boarding Schools In the World

50 Crazy Facts About Japan You Won’t Believe

Top 10 Least Expensive Hybrid Cars to Save the Planet With

The 10 Biggest ‘Gate’ Controversies in History

The 10 States with the Highest Nursing Shortages Leaving Their Hospitals Depleted

The 10 Best Value Investment Blogs that Every Investor Must Read

The 6 Cheapest Boarding Schools in Europe 2015

The 5 Most Expensive Cars To Insure in the World

The 10 Most Common Genetically Modified Foods

10 Self-Made Billionaires Who Came From Nothing

The 10 Most Expensive Cities to Live in North America

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 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!