Spark Investment Management LLC Boosts Position in Shutterfly, Inc. (SFLY)

Spark Investment Management LLC increased its stake in Shutterfly, Inc. (NASDAQ:SFLY) by 97.6% during the first quarter, HoldingsChannel.com reports. The firm owned 470,700 shares of the technology company’s stock after acquiring an additional 232,500 shares during the period. Shutterfly comprises approximately 0.9% of Spark Investment Management LLC’s portfolio, making the stock its 23rd biggest holding. Spark Investment Management LLC’s holdings in Shutterfly were worth $19,129,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of SFLY. SG Americas Securities LLC purchased a new stake in Shutterfly in the fourth quarter worth about $2,218,000. Oppenheimer Asset Management Inc. purchased a new stake in Shutterfly in the fourth quarter worth approximately $137,000. Penserra Capital Management LLC boosted its holdings in Shutterfly by 4.1% in the fourth quarter. Penserra Capital Management LLC now owns 186,346 shares of the technology company’s stock worth $7,502,000 after purchasing an additional 7,344 shares during the last quarter. Texas Permanent School Fund boosted its holdings in Shutterfly by 4.5% in the fourth quarter. Texas Permanent School Fund now owns 21,990 shares of the technology company’s stock worth $885,000 after purchasing an additional 948 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Shutterfly by 8.8% in the fourth quarter. Principal Financial Group Inc. now owns 315,041 shares of the technology company’s stock worth $12,684,000 after purchasing an additional 25,356 shares during the last quarter.

Several brokerages recently issued reports on SFLY. Zacks Investment Research cut shares of Shutterfly from a “hold” rating to a “sell” rating in a report on Wednesday, March 27th. ValuEngine upgraded shares of Shutterfly from a “sell” rating to a “hold” rating in a report on Friday, April 26th. BidaskClub downgraded shares of Shutterfly from a “hold” rating to a “sell” rating in a research report on Friday, March 1st. Finally, SunTrust Banks reiterated a “buy” rating and issued a $57.00 price target on shares of Shutterfly in a research report on Friday, April 26th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $53.00.

In other news, CFO Michael W. Pope sold 4,005 shares of the firm’s stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $46.13, for a total transaction of $184,750.65. Following the sale, the chief financial officer now directly owns 23,417 shares in the company, valued at approximately $1,080,226.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Meek sold 941 shares of the firm’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $40.46, for a total transaction of $38,072.86. Following the sale, the chief executive officer now owns 3,081 shares in the company, valued at $124,657.26. The disclosure for this sale can be found here. Insiders sold 21,823 shares of company stock worth $996,441 over the last quarter. Insiders own 2.40% of the company’s stock.

SFLY traded up $0.12 during trading on Friday, hitting $45.76. The company’s stock had a trading volume of 129,479 shares, compared to its average volume of 982,884. The company has a current ratio of 1.20, a quick ratio of 1.13 and a debt-to-equity ratio of 1.61. Shutterfly, Inc. has a one year low of $35.08 and a one year high of $100.34. The company has a market capitalization of $1.55 billion, a PE ratio of 15.00 and a beta of 1.40.

Shutterfly (NASDAQ:SFLY) last released its quarterly earnings results on Thursday, April 25th. The technology company reported ($2.47) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($2.53) by $0.06. Shutterfly had a negative net margin of 0.29% and a positive return on equity of 8.20%. The business had revenue of $324.68 million for the quarter, compared to the consensus estimate of $323.12 million. During the same period last year, the firm earned ($0.83) earnings per share. The company’s quarterly revenue was up 62.6% on a year-over-year basis. Equities analysts forecast that Shutterfly, Inc. will post 0.81 earnings per share for the current fiscal year.

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Shutterfly Profile

Shutterfly, Inc manufactures and retails personalized products primarily in the United States, Canada, and the European Community. The company operates through three reportable segments: Shutterfly Consumer, Lifetouch, and Shutterfly Business Solutions. The Shutterfly Consumer segment provides products, such as portraits, cards and stationery items, professionally-bound photo books and year books, personalized gifts and home décor products, and calendars and prints; and mugs, ornaments, candles, pillows, and blankets through the Shutterfly, Tiny Prints, and Groovebook domains, as well as rents photographic and video equipment under BorrowLenses brand.

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Institutional Ownership by Quarter for Shutterfly (NASDAQ:SFLY)

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