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Baron Funds Comments on Ellie Mae Inc.

February 26, 2014 | About:
Ellie Mae, Inc. (NYSE:ELLI), the provider of cloud based software services to the mortgage industry, stumbled badly after the mortgage market was softer than expected. We sold the position (at a 27% loss) after we realized that the correlation of its revenues to mortgage volumes was much higher than we had originally modeled.

From Ron Baron (Trades, Portfolio)'s Baron Funds fourth quarter 2013 letter to shareholders.

Rating: 3.0/5 (2 votes)


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