TIAA CREF Investment Management LLC Cuts Stake in Shutterfly, Inc. (SFLY)

TIAA CREF Investment Management LLC lessened its holdings in Shutterfly, Inc. (NASDAQ:SFLY) by 15.6% during the fourth quarter, HoldingsChannel reports. The firm owned 126,145 shares of the technology company’s stock after selling 23,284 shares during the period. TIAA CREF Investment Management LLC’s holdings in Shutterfly were worth $6,276,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Teachers Advisors LLC lifted its position in shares of Shutterfly by 0.7% in the fourth quarter. Teachers Advisors LLC now owns 102,111 shares of the technology company’s stock worth $5,080,000 after purchasing an additional 694 shares in the last quarter. Wedge Capital Management L L P NC lifted its position in shares of Shutterfly by 24.8% in the fourth quarter. Wedge Capital Management L L P NC now owns 6,937 shares of the technology company’s stock worth $345,000 after purchasing an additional 1,377 shares in the last quarter. Jane Street Group LLC lifted its position in shares of Shutterfly by 31.2% in the third quarter. Jane Street Group LLC now owns 8,816 shares of the technology company’s stock worth $427,000 after purchasing an additional 2,096 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of Shutterfly by 5.0% in the fourth quarter. Alliancebernstein L.P. now owns 57,005 shares of the technology company’s stock worth $2,836,000 after purchasing an additional 2,700 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Shutterfly in the third quarter worth $162,000.

In other Shutterfly news, CMO John Boris sold 6,104 shares of the company’s stock in a transaction on Saturday, May 19th. The shares were sold at an average price of $37.75, for a total value of $230,426.00. Following the transaction, the chief marketing officer now directly owns 26,082 shares in the company, valued at $984,595.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Jason Sebring sold 1,625 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $76.02, for a total transaction of $123,532.50. Following the completion of the transaction, the vice president now owns 1,625 shares in the company, valued at $123,532.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 301,082 shares of company stock worth $21,549,580. 0.80% of the stock is owned by corporate insiders.

A number of analysts have recently commented on the stock. BidaskClub raised shares of Shutterfly from a “hold” rating to a “buy” rating in a research report on Saturday, February 3rd. ValuEngine raised shares of Shutterfly from a “sell” rating to a “hold” rating in a research report on Friday, December 29th. Robert W. Baird boosted their price objective on shares of Shutterfly to $85.00 and gave the stock a “neutral” rating in a research report on Friday, April 6th. SunTrust Banks boosted their price objective on shares of Shutterfly to $60.00 and gave the stock a “buy” rating in a research report on Friday, January 12th. Finally, Zacks Investment Research lowered shares of Shutterfly from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. Shutterfly has a consensus rating of “Hold” and an average price target of $61.25.

Shares of SFLY opened at $81.97 on Monday. The firm has a market cap of $2,715.81, a P/E ratio of 78.07 and a beta of 0.88. Shutterfly, Inc. has a 1-year low of $39.76 and a 1-year high of $86.41. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.38 and a current ratio of 1.40.

Shutterfly (NASDAQ:SFLY) last issued its earnings results on Tuesday, January 30th. The technology company reported $3.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.86 by $0.25. The business had revenue of $593.80 million for the quarter, compared to the consensus estimate of $556.40 million. Shutterfly had a net margin of 2.53% and a return on equity of 6.99%. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the company earned $2.63 earnings per share. analysts predict that Shutterfly, Inc. will post 2.07 earnings per share for the current year.

Shutterfly declared that its board has approved a stock buyback plan on Tuesday, January 30th that authorizes the company to repurchase outstanding shares. This repurchase authorization authorizes the technology company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

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Shutterfly Profile

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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Institutional Ownership by Quarter for Shutterfly (NASDAQ:SFLY)

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