Arizona State Retirement System bought a new position in shares of Shutterfly, Inc. (NASDAQ:SFLY) during the first quarter, Holdings Channel reports. The fund bought 17,500 shares of the technology company’s stock, valued at approximately $845,000. Arizona State Retirement System owned approximately 0.05% of Shutterfly as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in SFLY. Stifel Financial Corp boosted its stake in shares of Shutterfly by 3.6% in the first quarter. Stifel Financial Corp now owns 9,462 shares of the technology company’s stock worth $457,000 after buying an additional 328 shares in the last quarter. Arcus Capital Partners LLC boosted its stake in shares of Shutterfly by 1.5% in the first quarter. Arcus Capital Partners LLC now owns 23,185 shares of the technology company’s stock worth $1,120,000 after buying an additional 333 shares in the last quarter. Federated Investors Inc. PA boosted its stake in shares of Shutterfly by 1.8% in the fourth quarter. Federated Investors Inc. PA now owns 64,553 shares of the technology company’s stock worth $3,239,000 after buying an additional 1,135 shares in the last quarter. Wedge Capital Management L L P NC boosted its stake in shares of Shutterfly by 21.6% in the first quarter. Wedge Capital Management L L P NC now owns 8,138 shares of the technology company’s stock worth $393,000 after buying an additional 1,446 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of Shutterfly by 0.3% in the fourth quarter. State Street Corp now owns 752,502 shares of the technology company’s stock worth $37,755,000 after buying an additional 2,280 shares in the last quarter. 98.67% of the stock is owned by institutional investors and hedge funds.
Shutterfly, Inc. (NASDAQ:SFLY) opened at 47.97 on Friday. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of 137.45 and a beta of 0.90. The firm has a 50 day moving average of $50.30 and a 200-day moving average of $49.27. Shutterfly, Inc. has a 52-week low of $41.91 and a 52-week high of $54.60.
Shutterfly (NASDAQ:SFLY) last posted its earnings results on Tuesday, April 25th. The technology company reported ($0.84) earnings per share for the quarter, beating the consensus estimate of ($1.03) by $0.19. The firm had revenue of $191.97 million during the quarter, compared to analyst estimates of $187.34 million. Shutterfly had a net margin of 1.06% and a return on equity of 3.29%. The business’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.85) EPS. Equities analysts expect that Shutterfly, Inc. will post $0.59 EPS for the current year.
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A number of analysts have commented on the stock. Cantor Fitzgerald upped their target price on shares of Shutterfly from $50.00 to $57.00 and gave the company an “overweight” rating in a report on Wednesday, April 26th. TheStreet cut shares of Shutterfly from a “b-” rating to a “c+” rating in a report on Tuesday, June 13th. Zacks Investment Research raised shares of Shutterfly from a “sell” rating to a “hold” rating in a report on Wednesday, April 26th. Jefferies Group LLC reaffirmed a “hold” rating and set a $53.00 target price (up from $46.00) on shares of Shutterfly in a report on Wednesday, April 26th. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $50.00 target price (up from $47.00) on shares of Shutterfly in a report on Saturday, April 29th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $53.50.
In other news, Director Betsy Rafael sold 1,060 shares of Shutterfly stock in a transaction that occurred on Friday, June 23rd. The shares were sold at an average price of $47.76, for a total transaction of $50,625.60. Following the completion of the transaction, the director now directly owns 5,046 shares of the company’s stock, valued at approximately $240,996.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director William J. Lansing bought 20,000 shares of the business’s stock in a transaction dated Wednesday, May 3rd. The shares were purchased at an average cost of $52.02 per share, with a total value of $1,040,400.00. Following the completion of the acquisition, the director now owns 20,000 shares in the company, valued at $1,040,400. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 60,290 shares of company stock valued at $2,958,580. 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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