New York State Teachers Retirement System acquired a new stake in shares of Shutterfly, Inc. (NASDAQ:SFLY) during the first quarter, according to its most recent 13F filing with the SEC. The firm acquired 13,858 shares of the technology company’s stock, valued at approximately $669,000.
Other large investors have also made changes to their positions in the company. Dimensional Fund Advisors LP boosted its stake in Shutterfly by 1.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,225,110 shares of the technology company’s stock valued at $59,160,000 after buying an additional 17,189 shares in the last quarter. Pivot Point Capital Partners LLC purchased a new stake in Shutterfly during the first quarter valued at $3,998,000. Vanguard Group Inc. boosted its stake in Shutterfly by 16.2% in the first quarter. Vanguard Group Inc. now owns 2,838,819 shares of the technology company’s stock valued at $137,087,000 after buying an additional 396,567 shares in the last quarter. Cim Investment Mangement Inc. purchased a new stake in Shutterfly during the first quarter valued at $693,000. Finally, Marshall Wace North America L.P. purchased a new stake in Shutterfly during the first quarter valued at $3,608,000.
Shutterfly, Inc. (NASDAQ:SFLY) opened at 47.73 on Friday. The firm’s 50-day moving average price is $47.85 and its 200 day moving average price is $48.59. Shutterfly, Inc. has a 52 week low of $41.91 and a 52 week high of $53.99. The company has a market capitalization of $1.59 billion, a PE ratio of 291.04 and a beta of 0.85.
Shutterfly (NASDAQ:SFLY) last released its quarterly earnings data on Tuesday, July 25th. The technology company reported ($0.68) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by $0.13. Shutterfly had a net margin of 0.50% and a return on equity of 3.61%. The business had revenue of $209.03 million during the quarter, compared to analyst estimates of $209.46 million. During the same quarter in the prior year, the company posted ($0.48) earnings per share. The company’s revenue was up 2.5% on a year-over-year basis. Equities research analysts expect that Shutterfly, Inc. will post $0.46 earnings per share for the current fiscal year.
Shutterfly declared that its board has approved a stock repurchase plan on Tuesday, April 18th that allows the company to repurchase $140.00 million in outstanding shares. This repurchase authorization allows the technology company to buy up to 8.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
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Several brokerages have commented on SFLY. TheStreet downgraded Shutterfly from a “b-” rating to a “c+” rating in a research note on Tuesday, June 13th. Cantor Fitzgerald increased their target price on shares of Shutterfly from $50.00 to $57.00 and gave the company an “overweight” rating in a research report on Wednesday, April 26th. Jefferies Group LLC reissued a “hold” rating and set a $53.00 target price on shares of Shutterfly in a research report on Friday. Zacks Investment Research raised shares of Shutterfly from a “sell” rating to a “hold” rating in a research report on Wednesday, April 26th. Finally, BidaskClub downgraded shares of Shutterfly from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 13th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $53.89.
In other news, Director Ann Mather sold 1,662 shares of the company’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $49.86, for a total transaction of $82,867.32. Following the sale, the director now owns 6,799 shares of the company’s stock, valued at $338,998.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Betsy Rafael sold 1,060 shares of the stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $47.76, for a total value of $50,625.60. Following the completion of the transaction, the director now directly owns 5,046 shares in the company, valued at approximately $240,996.96. The disclosure for this sale can be found here. Insiders have sold 60,290 shares of company stock worth $2,958,580 over the last 90 days. 5.70% of the stock is owned by insiders.
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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