Nisa Investment Advisors LLC Buys 150 Shares of Shutterfly, Inc. (NASDAQ:SFLY)
Nisa Investment Advisors LLC increased its stake in shares of Shutterfly, Inc. (NASDAQ:SFLY) by 1.7% during the second quarter, Holdings Channel reports. The fund owned 9,160 shares of the technology company’s stock after buying an additional 150 shares during the period. Nisa Investment Advisors LLC’s holdings in Shutterfly were worth $449,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in SFLY. Stifel Financial Corp raised its stake in Shutterfly by 3.6% in the first quarter. Stifel Financial Corp now owns 9,462 shares of the technology company’s stock valued at $457,000 after buying an additional 328 shares during the last quarter. Arcus Capital Partners LLC raised its stake in Shutterfly by 1.5% in the first quarter. Arcus Capital Partners LLC now owns 23,185 shares of the technology company’s stock valued at $1,120,000 after buying an additional 333 shares during the last quarter. Amalgamated Bank raised its stake in Shutterfly by 8.2% in the first quarter. Amalgamated Bank now owns 4,591 shares of the technology company’s stock valued at $222,000 after buying an additional 346 shares during the last quarter. California Public Employees Retirement System raised its stake in Shutterfly by 0.9% in the first quarter. California Public Employees Retirement System now owns 58,500 shares of the technology company’s stock valued at $2,825,000 after buying an additional 500 shares during the last quarter. Finally, Public Employees Retirement System of Ohio raised its stake in Shutterfly by 14.9% in the first quarter. Public Employees Retirement System of Ohio now owns 10,704 shares of the technology company’s stock valued at $517,000 after buying an additional 1,388 shares during the last quarter.
Shutterfly, Inc. (NASDAQ SFLY) traded down 0.09% during mid-day trading on Friday, reaching $45.79. The company’s stock had a trading volume of 165,030 shares. Shutterfly, Inc. has a 12-month low of $41.91 and a 12-month high of $53.99. The firm’s 50 day moving average price is $47.59 and its 200 day moving average price is $48.39. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of 279.21 and a beta of 0.85.
Shutterfly (NASDAQ:SFLY) last posted its earnings results 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 business had revenue of $209.03 million during the quarter, compared to analysts’ expectations of $209.46 million. During the same quarter in the prior year, the firm earned ($0.48) EPS. Shutterfly’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, equities analysts predict that Shutterfly, Inc. will post $0.46 earnings per share for the current year.
Shutterfly announced that its board has approved a share buyback plan on Tuesday, April 18th that allows the company to repurchase $140.00 million in outstanding shares. This repurchase authorization allows the technology company to buy up to 8.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
Several analysts recently weighed in on the company. TheStreet lowered Shutterfly from a “b-” rating to a “c+” rating in a report on Tuesday, June 13th. Cantor Fitzgerald increased their price target on Shutterfly from $50.00 to $57.00 and gave the company an “overweight” rating in a report on Wednesday, April 26th. Zacks Investment Research upgraded Shutterfly from a “sell” rating to a “hold” rating in a report on Wednesday, April 26th. BidaskClub lowered Shutterfly from a “sell” rating to a “strong sell” rating in a report on Thursday, July 13th. Finally, Jefferies Group LLC restated a “hold” rating and set a $53.00 price target (up previously from $46.00) on shares of Shutterfly in a report on Wednesday, April 26th. 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’s stock. Shutterfly presently has an average rating of “Hold” and an average price target of $53.89.
In other Shutterfly news, CEO Christopher North sold 27,606 shares of Shutterfly stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $49.66, for a total value of $1,370,913.96. Following the sale, the chief executive officer now owns 40,000 shares in the company, valued at $1,986,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ann Mather sold 4,295 shares of Shutterfly stock in a transaction on Wednesday, June 21st. The shares were sold at an average price of $48.30, for a total value of $207,448.50. Following the completion of the sale, the director now owns 9,658 shares in the company, valued at approximately $466,481.40. The disclosure for this sale can be found here. Insiders sold 60,290 shares of company stock worth $2,958,580 in the last 90 days. Company 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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