Lakewood Capital Management LP Purchases Shares of 216,800 Shutterfly, Inc. (SFLY)

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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About Shutterfly

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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Institutional Ownership by Quarter for Shutterfly (NASDAQ:SFLY)

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