Stock analysts at SunTrust Banks, Inc. initiated coverage on shares of Shutterfly, Inc. (NASDAQ:SFLY) in a research note issued on Tuesday, The Fly reports. The brokerage set a “buy” rating on the technology company’s stock.

SFLY has been the topic of a number of other research reports. ValuEngine upgraded shares of Shutterfly from a “sell” rating to a “hold” rating in a research report on Tuesday, June 6th. Zacks Investment Research upgraded shares of Shutterfly from a “hold” rating to a “strong-buy” rating and set a $54.00 price objective on the stock in a research report on Wednesday, June 28th. Jefferies Group LLC restated a “hold” rating and issued a $53.00 price objective (up previously from $46.00) on shares of Shutterfly in a research report on Wednesday, April 26th. BidaskClub cut shares of Shutterfly from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 5th. Finally, Cantor Fitzgerald restated a “buy” rating and issued a $57.00 price objective on shares of Shutterfly in a research report on Tuesday, May 16th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $53.89.

Shutterfly (NASDAQ SFLY) traded down 0.92% during mid-day trading on Tuesday, reaching $46.18. The company had a trading volume of 338,734 shares. The firm has a 50-day moving average price of $47.47 and a 200 day moving average price of $48.20. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of 281.59 and a beta of 0.85. Shutterfly has a 12-month low of $41.91 and a 12-month high of $53.99.

Shutterfly (NASDAQ:SFLY) last issued its earnings results on Tuesday, July 25th. The technology company reported ($0.68) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by $0.13. The business had revenue of $209.03 million during the quarter, compared to analysts’ expectations of $209.46 million. Shutterfly had a return on equity of 3.61% and a net margin of 0.50%. Shutterfly’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.48) EPS. Analysts expect that Shutterfly will post $0.46 EPS for the current year.

Shutterfly announced that its Board of Directors has authorized a share repurchase plan on Tuesday, April 18th that authorizes the company to buyback $140.00 million in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 8.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.

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In other news, CEO Christopher North sold 27,606 shares of Shutterfly stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $49.66, for a total transaction of $1,370,913.96. Following the sale, the chief executive officer now owns 40,000 shares of the company’s stock, valued at approximately $1,986,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ann Mather sold 1,662 shares of Shutterfly stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $49.86, for a total transaction of $82,867.32. Following the sale, the director now directly owns 6,799 shares in the company, valued at approximately $338,998.14. The disclosure for this sale can be found here. Insiders have sold a total of 60,290 shares of company stock worth $2,958,580 in the last ninety days. Insiders own 5.70% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Pinebridge Investments L.P. raised its stake in shares of Shutterfly by 1.4% in the second quarter. Pinebridge Investments L.P. now owns 4,450 shares of the technology company’s stock worth $211,000 after buying an additional 60 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in shares of Shutterfly by 0.7% in the second quarter. Louisiana State Employees Retirement System now owns 13,800 shares of the technology company’s stock worth $656,000 after buying an additional 100 shares during the last quarter. Arizona State Retirement System raised its stake in shares of Shutterfly by 0.6% in the second quarter. Arizona State Retirement System now owns 17,600 shares of the technology company’s stock worth $836,000 after buying an additional 100 shares during the last quarter. Amalgamated Bank raised its stake in shares of Shutterfly by 2.7% in the second quarter. Amalgamated Bank now owns 4,713 shares of the technology company’s stock worth $224,000 after buying an additional 122 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in shares of Shutterfly by 1.7% in the second quarter. Nisa Investment Advisors LLC now owns 9,160 shares of the technology company’s stock worth $449,000 after buying an additional 150 shares during the last quarter.

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.

The Fly

Analyst Recommendations for Shutterfly (NASDAQ:SFLY)

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