Lakewood Capital Management LP purchased a new stake in Shutterfly, Inc. (NASDAQ:SFLY) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 216,800 shares of the technology company’s stock, valued at approximately $8,728,000. Lakewood Capital Management LP owned approximately 0.65% of Shutterfly as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the business. Piedmont Investment Advisors Inc. boosted its position in Shutterfly by 3.8% in the fourth quarter. Piedmont Investment Advisors Inc. now owns 7,995 shares of the technology company’s stock valued at $322,000 after buying an additional 292 shares in the last quarter. State of Alaska Department of Revenue boosted its position in Shutterfly by 2.8% in the fourth quarter. State of Alaska Department of Revenue now owns 11,233 shares of the technology company’s stock valued at $452,000 after buying an additional 310 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Shutterfly by 11.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,269 shares of the technology company’s stock worth $172,000 after acquiring an additional 429 shares during the last quarter. Stifel Financial Corp raised its stake in shares of Shutterfly by 6.2% in the fourth quarter. Stifel Financial Corp now owns 8,911 shares of the technology company’s stock worth $358,000 after acquiring an additional 520 shares during the last quarter. Finally, Teachers Advisors LLC raised its stake in shares of Shutterfly by 0.5% in the third quarter. Teachers Advisors LLC now owns 136,696 shares of the technology company’s stock worth $9,007,000 after acquiring an additional 691 shares during the last quarter.
Shares of NASDAQ SFLY opened at $40.80 on Friday. Shutterfly, Inc. has a 1-year low of $35.08 and a 1-year high of $100.34. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 13.38, a P/E/G ratio of 2.53 and a beta of 1.41. The company has a quick ratio of 1.76, a current ratio of 1.80 and a debt-to-equity ratio of 1.62.
Shutterfly (NASDAQ:SFLY) last announced its earnings results on Tuesday, February 5th. The technology company reported $5.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $5.28 by ($0.09). Shutterfly had a return on equity of 18.78% and a net margin of 2.57%. The company had revenue of $949.97 million during the quarter, compared to the consensus estimate of $951.60 million. During the same period in the prior year, the firm posted $3.11 earnings per share. The company’s revenue was up 60.0% on a year-over-year basis. On average, equities research analysts anticipate that Shutterfly, Inc. will post 0.74 earnings per share for the current year.
A number of equities analysts have weighed in on SFLY shares. Aegis reaffirmed a “buy” rating and issued a $78.00 target price (down from $100.00) on shares of Shutterfly in a research note on Friday, November 30th. Zacks Investment Research raised shares of Shutterfly from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. BidaskClub downgraded shares of Shutterfly from a “sell” rating to a “strong sell” rating in a research note on Thursday. ValuEngine downgraded shares of Shutterfly from a “hold” rating to a “sell” rating in a research note on Saturday, March 9th. Finally, SunTrust Banks dropped their target price on shares of Shutterfly to $70.00 and set a “buy” rating for the company in a research note on Friday, February 1st. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $70.40.
In related news, SVP Tracy Layney sold 4,926 shares of the business’s stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $46.25, for a total transaction of $227,827.50. Following the completion of the sale, the senior vice president now directly owns 23,535 shares of the company’s stock, valued at $1,088,493.75. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Satish Menon sold 5,216 shares of the business’s stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $45.93, for a total transaction of $239,570.88. Following the sale, the senior vice president now directly owns 4,750 shares of the company’s stock, valued at $218,167.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,894 shares of company stock valued at $1,366,426. 1.30% of the stock is currently owned by insiders.
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Shutterfly, Inc manufactures and retails personalized products and services primarily in the United States, Canada, and the European Community. The company operates through Consumer and Shutterfly Business Solutions segments. It offers a range of personalized photo-based products and services that enable consumers to upload, edit, enhance, organize, find, share, create, print, and preserve their memories.
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