LS Investment Advisors LLC Boosts Stake in Shutterfly, Inc. (NASDAQ:SFLY)
LS Investment Advisors LLC raised its position in Shutterfly, Inc. (NASDAQ:SFLY) by 132.9% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,888 shares of the technology company’s stock after buying an additional 1,648 shares during the period. LS Investment Advisors LLC’s holdings in Shutterfly were worth $137,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Park West Asset Management LLC boosted its position in shares of Shutterfly by 31.0% in the first quarter. Park West Asset Management LLC now owns 2,758,936 shares of the technology company’s stock worth $133,229,000 after buying an additional 652,612 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Shutterfly by 16.2% in the first quarter. Vanguard Group Inc. now owns 2,838,819 shares of the technology company’s stock worth $137,087,000 after buying an additional 396,567 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Shutterfly by 3,367.3% in the first quarter. Principal Financial Group Inc. now owns 260,704 shares of the technology company’s stock worth $12,589,000 after buying an additional 253,185 shares during the last quarter. State Street Corp boosted its position in shares of Shutterfly by 25.2% in the first quarter. State Street Corp now owns 942,085 shares of the technology company’s stock worth $45,498,000 after buying an additional 189,583 shares during the last quarter. Finally, Ameriprise Financial Inc. acquired a new position in shares of Shutterfly during the first quarter worth about $8,546,000.
Shutterfly, Inc. (NASDAQ SFLY) traded down 0.31% during midday trading on Friday, reaching $45.69. 157,591 shares of the company were exchanged. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of 278.60 and a beta of 0.85. The firm’s 50-day moving average price is $47.59 and its 200 day moving average price is $48.39. Shutterfly, Inc. has a 52-week low of $41.91 and a 52-week high of $53.99.
Shutterfly (NASDAQ:SFLY) last announced its quarterly earnings data on Tuesday, July 25th. The technology company reported ($0.68) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.55) by $0.13. Shutterfly had a net margin of 0.50% and a return on equity of 3.61%. The firm had revenue of $209.03 million during the quarter, compared to analyst estimates of $209.46 million. During the same period last year, the business posted ($0.48) EPS. The company’s revenue was up 2.5% on a year-over-year basis. Equities analysts predict that Shutterfly, Inc. will post $0.46 earnings per share for the current year.
Shutterfly announced that its Board of Directors has approved a share buyback plan on Tuesday, April 18th that permits the company to repurchase $140.00 million in shares. This repurchase authorization permits the technology company to buy up to 8.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
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A number of equities analysts have issued reports on SFLY shares. Zacks Investment Research upgraded shares of Shutterfly from a “hold” rating to a “strong-buy” rating and set a $54.00 target price for the company in a research report on Wednesday, June 28th. TheStreet raised shares of Shutterfly from a “c” rating to a “b” rating in a research report on Monday, April 17th. Robert W. Baird reissued a “neutral” rating and issued a $50.00 price objective (up previously from $47.00) on shares of Shutterfly in a research report on Saturday, April 29th. Royal Bank Of Canada boosted their price objective on shares of Shutterfly from $54.00 to $59.00 and gave the company an “outperform” rating in a research report on Wednesday, April 26th. Finally, ValuEngine raised shares of Shutterfly from a “sell” rating to a “hold” rating in a research report on Tuesday, June 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $53.89.
In other Shutterfly news, Director Ann Mather sold 1,662 shares of the firm’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $49.86, for a total value of $82,867.32. Following the completion of the sale, the director now owns 6,799 shares of the company’s stock, valued at $338,998.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Betsy Rafael sold 1,060 shares of the firm’s stock in a transaction that occurred on Friday, June 23rd. The shares were sold at an average price of $47.76, for a total value of $50,625.60. Following the completion of the sale, the director now directly owns 5,046 shares of the company’s stock, valued at approximately $240,996.96. The disclosure for this sale can be found here. Insiders sold 60,290 shares of company stock valued at $2,958,580 in the last three months. Insiders own 5.70% of the company’s stock.
Shutterfly Company 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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