Shutterfly Sees Unusually High Options Volume (SFLY)

Shutterfly, Inc. (NASDAQ:SFLY) was the target of unusually large options trading on Thursday. Stock investors purchased 3,033 call options on the company. This represents an increase of 1,844% compared to the typical daily volume of 156 call options.

In related news, SVP Tracy Layney sold 924 shares of Shutterfly stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $74.34, for a total value of $68,690.16. Following the transaction, the senior vice president now directly owns 27,410 shares in the company, valued at approximately $2,037,659.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christopher North sold 170,000 shares of Shutterfly stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $67.76, for a total value of $11,519,200.00. Following the completion of the transaction, the chief executive officer now owns 97,394 shares in the company, valued at $6,599,417.44. The disclosure for this sale can be found here. Insiders sold a total of 294,978 shares of company stock worth $21,319,154 over the last 90 days. Insiders own 0.80% of the company’s stock.

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A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its position in Shutterfly by 0.3% during the third quarter. Dimensional Fund Advisors LP now owns 1,248,187 shares of the technology company’s stock valued at $60,512,000 after purchasing an additional 3,360 shares during the last quarter. Rice Hall James & Associates LLC boosted its position in Shutterfly by 9.4% during the fourth quarter. Rice Hall James & Associates LLC now owns 877,093 shares of the technology company’s stock valued at $43,635,000 after purchasing an additional 75,573 shares during the last quarter. Wells Fargo & Company MN boosted its position in Shutterfly by 430.8% during the fourth quarter. Wells Fargo & Company MN now owns 395,028 shares of the technology company’s stock valued at $19,653,000 after purchasing an additional 320,604 shares during the last quarter. Renaissance Technologies LLC boosted its position in Shutterfly by 81.6% during the fourth quarter. Renaissance Technologies LLC now owns 333,400 shares of the technology company’s stock valued at $16,587,000 after purchasing an additional 149,800 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its position in Shutterfly by 8.6% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 244,681 shares of the technology company’s stock valued at $12,173,000 after purchasing an additional 19,306 shares during the last quarter.

A number of brokerages have recently weighed in on SFLY. BidaskClub upgraded Shutterfly from a “hold” rating to a “buy” rating in a report on Saturday, February 3rd. ValuEngine upgraded Shutterfly from a “sell” rating to a “hold” rating in a report on Friday, December 29th. Robert W. Baird lifted their price target on Shutterfly to $85.00 and gave the company a “neutral” rating in a report on Friday, April 6th. SunTrust Banks lifted their price target on Shutterfly to $60.00 and gave the company a “buy” rating in a report on Friday, January 12th. Finally, Zacks Investment Research downgraded Shutterfly from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $61.25.

Shares of SFLY stock opened at $83.07 on Friday. Shutterfly has a 1-year low of $39.76 and a 1-year high of $86.41. The company has a current ratio of 1.40, a quick ratio of 1.38 and a debt-to-equity ratio of 0.53. The firm has a market cap of $2,738.97, a PE ratio of 79.11 and a beta of 0.88.

Shutterfly (NASDAQ:SFLY) last released its quarterly earnings data on Tuesday, January 30th. The technology company reported $3.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.86 by $0.25. The firm had revenue of $593.80 million during the quarter, compared to analysts’ expectations of $556.40 million. Shutterfly had a return on equity of 6.99% and a net margin of 2.53%. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.63 earnings per share. equities research analysts anticipate that Shutterfly will post 2.07 EPS for the current year.

Shutterfly announced that its board has initiated a share repurchase plan on Tuesday, January 30th that permits the company to buyback shares. This buyback authorization permits the technology company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

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Shutterfly Company Profile

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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