Shutterfly, Inc. (SFLY) Shares Sold by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board decreased its stake in shares of Shutterfly, Inc. (NASDAQ:SFLY) by 33.9% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 145,440 shares of the technology company’s stock after selling 74,700 shares during the period. Canada Pension Plan Investment Board owned approximately 0.44% of Shutterfly worth $6,908,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of SFLY. AQR Capital Management LLC bought a new position in Shutterfly during the fourth quarter valued at about $209,000. Capstone Asset Management Co. bought a new position in Shutterfly during the first quarter valued at about $480,000. Louisiana State Employees Retirement System bought a new position in Shutterfly during the first quarter valued at about $662,000. State of Alaska Department of Revenue bought a new position in Shutterfly during the first quarter valued at about $180,000. Finally, Profund Advisors LLC bought a new position in Shutterfly during the first quarter valued at about $305,000.

Shutterfly, Inc. (NASDAQ:SFLY) opened at 44.99 on Monday. Shutterfly, Inc. has a 52 week low of $41.91 and a 52 week high of $53.99. The company has a market cap of $1.50 billion, a PE ratio of 274.33 and a beta of 0.85. The stock has a 50 day moving average of $47.34 and a 200 day moving average of $48.12.

Shutterfly (NASDAQ:SFLY) last issued its quarterly earnings results on Tuesday, July 25th. The technology company reported ($0.68) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.55) by $0.13. Shutterfly had a return on equity of 3.61% and a net margin of 0.50%. The firm had revenue of $209.03 million for the quarter, compared to analysts’ expectations of $209.46 million. During the same quarter in the previous year, the firm posted ($0.48) earnings per share. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. Equities research analysts predict that Shutterfly, Inc. will post $0.47 EPS for the current fiscal year.

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SFLY has been the topic of several research analyst reports. Jefferies Group LLC restated a “hold” rating and set a $53.00 target price (up previously from $46.00) on shares of Shutterfly in a research note on Wednesday, April 26th. Royal Bank Of Canada upped their target price on shares of Shutterfly from $54.00 to $59.00 and gave the company an “outperform” rating in a research note on Wednesday, April 26th. Aegis restated a “buy” rating and set a $57.00 target price on shares of Shutterfly in a research note on Wednesday, April 26th. Cantor Fitzgerald upped their target price on shares of Shutterfly from $50.00 to $57.00 and gave the company an “overweight” rating in a research note on Wednesday, April 26th. Finally, Zacks Investment Research upgraded shares of Shutterfly from a “sell” rating to a “hold” rating in a research note on Wednesday, April 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $54.10.

In related news, Director Ann Mather sold 1,436 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $48.17, for a total transaction of $69,172.12. Following the completion of the sale, the director now directly owns 5,363 shares in the company, valued at $258,335.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher North sold 27,606 shares of the company’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $49.66, for a total value of $1,370,913.96. Following the completion of the sale, the chief executive officer now owns 40,000 shares of the company’s stock, valued at $1,986,400. The disclosure for this sale can be found here. Insiders have sold 59,878 shares of company stock valued at $2,933,912 over the last quarter. 5.70% of the stock is owned by company insiders.

About Shutterfly

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.