Shutterfly, Inc. (NASDAQ:SFLY) SVP Dwayne A. Black sold 16,102 shares of the company’s stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $85.29, for a total transaction of $1,373,339.58. Following the completion of the sale, the senior vice president now directly owns 43,975 shares of the company’s stock, valued at approximately $3,750,627.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of Shutterfly, Inc. (NASDAQ SFLY) traded up $0.26 during mid-day trading on Tuesday, hitting $85.16. 25,307 shares of the stock traded hands, compared to its average volume of 1,216,919. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 1.38. Shutterfly, Inc. has a 52 week low of $39.76 and a 52 week high of $86.41. The company has a market capitalization of $2,788.00, a P/E ratio of 77.94 and a beta of 0.93.
Shutterfly (NASDAQ:SFLY) last issued its quarterly earnings data on Tuesday, January 30th. The technology company reported $3.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.86 by $0.25. Shutterfly had a net margin of 2.53% and a return on equity of 6.99%. The company had revenue of $593.80 million during the quarter, compared to the consensus estimate of $556.40 million. During the same quarter in the prior year, the firm earned $2.63 earnings per share. The firm’s revenue was up 5.8% compared to the same quarter last year. sell-side analysts predict that Shutterfly, Inc. will post 2.09 earnings per share for the current fiscal year.
Shutterfly declared that its Board of Directors has approved a stock buyback program on Tuesday, January 30th that allows the company to buyback shares. This buyback authorization allows the technology company to reacquire shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Bamco Inc. NY acquired a new position in Shutterfly during the third quarter worth $36,360,000. Schwab Charles Investment Management Inc. boosted its holdings in Shutterfly by 8.7% during the third quarter. Schwab Charles Investment Management Inc. now owns 225,375 shares of the technology company’s stock worth $10,927,000 after purchasing an additional 18,114 shares during the last quarter. Fine Capital Partners L.P. boosted its holdings in Shutterfly by 19.8% during the third quarter. Fine Capital Partners L.P. now owns 1,646,060 shares of the technology company’s stock worth $79,801,000 after purchasing an additional 272,200 shares during the last quarter. Penserra Capital Management LLC boosted its holdings in Shutterfly by 136.4% during the fourth quarter. Penserra Capital Management LLC now owns 128,714 shares of the technology company’s stock worth $6,403,000 after purchasing an additional 74,277 shares during the last quarter. Finally, Spark Investment Management LLC acquired a new position in Shutterfly during the fourth quarter worth $1,194,000.
Several equities research analysts have commented on SFLY shares. Aegis reaffirmed a “buy” rating and issued a $57.00 target price on shares of Shutterfly in a research note on Wednesday, December 27th. BidaskClub raised shares of Shutterfly from a “hold” rating to a “buy” rating in a research note on Saturday, February 3rd. SunTrust Banks upped their target price on shares of Shutterfly to $60.00 and gave the company a “buy” rating in a research note on Friday, January 12th. ValuEngine raised shares of Shutterfly from a “sell” rating to a “hold” rating in a research note on Friday, December 29th. Finally, Goldman Sachs downgraded shares of Shutterfly from a “neutral” rating to a “sell” rating and set a $46.00 price objective for the company. in a research report on Wednesday, January 17th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $56.88.
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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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