BidaskClub upgraded shares of Shutterfly, Inc. (NASDAQ:SFLY) from a strong sell rating to a sell rating in a report issued on Tuesday morning.

SFLY has been the topic of several other reports. TheStreet raised shares of Shutterfly from a c rating to a b rating in a research note on Monday, April 17th. Aegis reissued a buy rating and set a $57.00 target price on shares of Shutterfly in a research note on Wednesday, April 26th. Cantor Fitzgerald reissued a buy rating and set a $57.00 target price on shares of Shutterfly in a research note on Tuesday, May 16th. Zacks Investment Research raised shares of Shutterfly from a hold rating to a buy rating and set a $53.00 target price on the stock in a research note on Monday, July 17th. Finally, ValuEngine raised shares of Shutterfly from a sell rating to a hold rating in a research note on Tuesday, June 6th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Shutterfly has an average rating of Hold and an average price target of $53.89.

Shutterfly (SFLY) traded down 1.44% during midday trading on Tuesday, reaching $48.55. The company’s stock had a trading volume of 611,833 shares. Shutterfly has a one year low of $41.91 and a one year high of $53.99. The stock’s 50 day moving average price is $47.80 and its 200-day moving average price is $48.69. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of 296.04 and a beta of 0.85.

Shutterfly (NASDAQ:SFLY) last posted its quarterly earnings results on Tuesday, July 25th. The technology company reported ($0.68) EPS for the quarter, missing the 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 period in the previous year, the company posted ($0.48) earnings per share. Shutterfly’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, analysts forecast that Shutterfly will post $0.46 EPS for the current fiscal year.

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Shutterfly declared that its board has authorized a stock repurchase program on Tuesday, April 18th that authorizes the company to buyback $140.00 million in shares. This buyback authorization authorizes the technology company to reacquire up to 8.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

In related news, Director Ann Mather sold 1,436 shares of the company’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $48.17, for a total transaction of $69,172.12. Following the completion of the transaction, the director now owns 5,363 shares in the company, valued at approximately $258,335.71. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Betsy Rafael sold 1,060 shares of the company’s stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $47.76, for a total transaction of $50,625.60. Following the transaction, the director now owns 5,046 shares of the company’s stock, valued at approximately $240,996.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 60,290 shares of company stock valued at $2,958,580. Insiders own 5.70% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Elkfork Partners LLC bought a new position in Shutterfly during the first quarter valued at $116,000. LS Investment Advisors LLC increased its position in Shutterfly by 132.9% in the second quarter. LS Investment Advisors LLC now owns 2,888 shares of the technology company’s stock valued at $137,000 after buying an additional 1,648 shares during the period. Meadow Creek Investment Management LLC bought a new position in Shutterfly during the first quarter valued at $141,000. Ameritas Investment Partners Inc. bought a new position in Shutterfly during the first quarter valued at $144,000. Finally, State of Alaska Department of Revenue bought a new position in Shutterfly during the first quarter valued at $180,000.

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.

Analyst Recommendations for Shutterfly (NASDAQ:SFLY)

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