Russell Investments Group Ltd. cut its stake in Shutterfly, Inc. (NASDAQ:SFLY) by 20.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 157,083 shares of the technology company’s stock after selling 41,525 shares during the period. Russell Investments Group Ltd. owned approximately 0.47% of Shutterfly worth $7,586,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Shutterfly during the fourth quarter valued at $37,582,000. Park West Asset Management LLC increased its stake in shares of Shutterfly by 77.1% in the third quarter. Park West Asset Management LLC now owns 1,590,448 shares of the technology company’s stock valued at $70,998,000 after buying an additional 692,157 shares during the last quarter. EastBay Asset Management LLC increased its stake in shares of Shutterfly by 12.9% in the fourth quarter. EastBay Asset Management LLC now owns 2,481,839 shares of the technology company’s stock valued at $124,537,000 after buying an additional 284,525 shares during the last quarter. Two Sigma Investments LP increased its stake in shares of Shutterfly by 4,582.8% in the fourth quarter. Two Sigma Investments LP now owns 238,638 shares of the technology company’s stock valued at $11,975,000 after buying an additional 233,542 shares during the last quarter. Finally, Anavon Capital LLP bought a new stake in shares of Shutterfly during the fourth quarter valued at $6,795,000. 98.67% of the stock is owned by institutional investors.
Shutterfly, Inc. (SFLY) traded down 0.12% during trading on Friday, hitting $48.55. The stock had a trading volume of 454,445 shares. The stock has a 50-day moving average price of $50.50 and a 200-day moving average price of $49.32. Shutterfly, Inc. has a 52 week low of $41.91 and a 52 week high of $54.60. The company has a market cap of $1.64 billion, a PE ratio of 139.11 and a beta of 0.90.
Shutterfly (NASDAQ:SFLY) last announced its quarterly earnings results on Tuesday, April 25th. The technology company reported ($0.84) EPS for the quarter, topping analysts’ consensus estimates of ($1.03) by $0.19. The firm had revenue of $191.97 million during the quarter, compared to analysts’ expectations of $187.34 million. Shutterfly had a net margin of 1.06% and a return on equity of 3.29%. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter last year, the company earned ($0.85) earnings per share. Equities analysts predict that Shutterfly, Inc. will post $0.59 EPS for the current year.
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SFLY has been the subject of several analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $50.00 target price on shares of Shutterfly in a research report on Monday, March 13th. TheStreet upgraded Shutterfly from a “c” rating to a “b” rating in a research note on Monday, April 17th. Robert W. Baird reiterated a “neutral” rating and issued a $50.00 price target (up previously from $47.00) on shares of Shutterfly in a research note on Saturday, April 29th. Royal Bank of Canada boosted their price target on Shutterfly from $54.00 to $59.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 26th. Finally, Zacks Investment Research upgraded Shutterfly from a “sell” rating to a “hold” rating in a research note on Wednesday, April 26th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $53.50.
In other news, Director William J. Lansing bought 20,000 shares of the business’s stock in a transaction dated Wednesday, May 3rd. The stock was bought at an average price of $52.02 per share, for a total transaction of $1,040,400.00. Following the completion of the purchase, the director now owns 20,000 shares of the company’s stock, valued at approximately $1,040,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ann Mather sold 1,662 shares of Shutterfly stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $49.86, for a total transaction of $82,867.32. Following the completion of the transaction, the director now owns 6,799 shares of the company’s stock, valued at approximately $338,998.14. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,704 shares of company stock valued at $1,522,953. Corporate insiders own 5.70% of the company’s stock.
Shutterfly, Inc is an online manufacturer and retailer of personalized products and services. The Company focuses on helping consumers manage their memories through the medium of photography. The Company’s segments are Consumer and Shutterfly Business Solutions (SBS). The Consumer segment offers photo-based products, such as photo books, stationery and greeting cards, other photo-based merchandise, photo prints and statement gifts.
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