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.
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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