Bank of New York Mellon Corp cut its stake in shares of Shutterfly, Inc. (NASDAQ:SFLY) by 52.2% during the 2nd quarter, HoldingsChannel reports. The fund owned 456,959 shares of the technology company’s stock after selling 499,006 shares during the period. Bank of New York Mellon Corp’s holdings in Shutterfly were worth $41,140,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of SFLY. Summit Trail Advisors LLC boosted its stake in Shutterfly by 7,742.2% during the first quarter. Summit Trail Advisors LLC now owns 1,749,526 shares of the technology company’s stock worth $1,750,000 after acquiring an additional 1,727,217 shares in the last quarter. Scopus Asset Management L.P. bought a new position in Shutterfly during the first quarter worth $21,938,000. Bamco Inc. NY boosted its stake in Shutterfly by 33.3% during the first quarter. Bamco Inc. NY now owns 1,000,000 shares of the technology company’s stock worth $81,250,000 after acquiring an additional 250,000 shares in the last quarter. Matarin Capital Management LLC bought a new position in Shutterfly during the first quarter worth $10,727,000. Finally, Spark Investment Management LLC boosted its stake in Shutterfly by 388.3% during the first quarter. Spark Investment Management LLC now owns 117,200 shares of the technology company’s stock worth $9,522,000 after acquiring an additional 93,200 shares in the last quarter.
In other Shutterfly news, VP Jason Sebring sold 3,125 shares of the firm’s stock in a transaction on Tuesday, June 19th. The shares were sold at an average price of $93.90, for a total value of $293,437.50. Following the transaction, the vice president now directly owns 3,125 shares of the company’s stock, valued at $293,437.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Scott Arnold sold 52,017 shares of the firm’s stock in a transaction on Tuesday, July 3rd. The shares were sold at an average price of $89.65, for a total transaction of $4,663,324.05. Following the completion of the transaction, the senior vice president now directly owns 12,543 shares in the company, valued at $1,124,479.95. The disclosure for this sale can be found here. Insiders sold 106,883 shares of company stock worth $9,455,677 over the last ninety days. Insiders own 1.30% of the company’s stock.
Several research analysts recently issued reports on SFLY shares. BidaskClub lowered shares of Shutterfly from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 8th. SunTrust Banks reissued a “buy” rating and set a $111.00 target price on shares of Shutterfly in a research note on Tuesday, June 5th. ValuEngine lowered shares of Shutterfly from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 2nd. Zacks Investment Research raised shares of Shutterfly from a “sell” rating to a “hold” rating in a research note on Monday, August 6th. Finally, Robert W. Baird increased their target price on shares of Shutterfly from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday, July 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $95.00.
Shutterfly stock opened at $73.73 on Thursday. Shutterfly, Inc. has a 1-year low of $39.76 and a 1-year high of $100.34. The firm has a market capitalization of $2.60 billion, a price-to-earnings ratio of 72.29, a price-to-earnings-growth ratio of 1.20 and a beta of 0.96. The company has a debt-to-equity ratio of 2.01, a quick ratio of 1.66 and a current ratio of 1.72.
Shutterfly (NASDAQ:SFLY) last released its quarterly earnings data on Tuesday, August 7th. The technology company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.96. Shutterfly had a net margin of 2.26% and a return on equity of 13.03%. The firm had revenue of $443.37 million for the quarter, compared to analyst estimates of $438.30 million. equities research analysts predict that Shutterfly, Inc. will post 2.69 EPS for the current year.
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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