Shutterfly Inc. (SFLY) Sees Unusually-High Trading Volume
Shares of Shutterfly Inc. (NASDAQ:SFLY) saw unusually-high trading volume on Wednesday . Approximately 5,246,847 shares traded hands during mid-day trading, an increase of 706% from the previous session’s volume of 651,175 shares.The stock last traded at $44.20 and had previously closed at $50.48.
SFLY has been the topic of several research analyst reports. Cantor Fitzgerald restated a “buy” rating and issued a $55.00 price objective on shares of Shutterfly in a research report on Tuesday, August 9th. Zacks Investment Research upgraded shares of Shutterfly from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a research report on Tuesday, July 19th. Axiom Securities cut shares of Shutterfly from a “buy” rating to a “hold” rating and set a $52.00 price objective on the stock. in a research report on Wednesday, July 20th. Jefferies Group restated a “hold” rating on shares of Shutterfly in a research report on Friday, August 5th. Finally, Goldman Sachs Group Inc. upped their price objective on shares of Shutterfly from $48.00 to $50.00 and gave the stock a “neutral” rating in a research report on Thursday, July 28th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $52.92.
The company has a market capitalization of $1.50 billion, a PE ratio of 70.16 and a beta of 1.32. The firm’s 50 day moving average price is $50.42 and its 200-day moving average price is $48.15.
Shutterfly (NASDAQ:SFLY) last issued its quarterly earnings results on Wednesday, July 27th. The company reported ($0.48) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.65) by $0.17. Shutterfly had a return on equity of 4.86% and a net margin of 2.01%. The company had revenue of $204 million for the quarter, compared to analyst estimates of $200.73 million. During the same quarter in the prior year, the company posted ($0.63) EPS. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. On average, equities research analysts forecast that Shutterfly Inc. will post $0.55 EPS for the current year.
In other Shutterfly news, SVP Ishantha Lokuge sold 5,241 shares of the stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $50.19, for a total transaction of $263,045.79. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Thomas David Hughes sold 1,000 shares of the stock in a transaction on Monday, August 8th. The stock was sold at an average price of $51.61, for a total value of $51,610.00. Following the transaction, the director now directly owns 3,957 shares in the company, valued at approximately $204,220.77. The disclosure for this sale can be found here. Company insiders own 5.70% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of SFLY. Teacher Retirement System of Texas raised its position in shares of Shutterfly by 6.9% in the second quarter. Teacher Retirement System of Texas now owns 4,631 shares of the company’s stock worth $216,000 after buying an additional 300 shares in the last quarter. BlackRock Inc. raised its position in shares of Shutterfly by 20.7% in the second quarter. BlackRock Inc. now owns 2,986 shares of the company’s stock worth $139,000 after buying an additional 513 shares in the last quarter. Ancora Advisors LLC raised its position in shares of Shutterfly by 0.8% in the second quarter. Ancora Advisors LLC now owns 119,151 shares of the company’s stock worth $5,554,000 after buying an additional 1,000 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Shutterfly by 19.5% in the second quarter. Principal Financial Group Inc. now owns 7,077 shares of the company’s stock worth $330,000 after buying an additional 1,153 shares in the last quarter. Finally, Quantitative Investment Management LLC raised its position in shares of Shutterfly by 33.3% in the second quarter. Quantitative Investment Management LLC now owns 6,000 shares of the company’s stock worth $279,000 after buying an additional 1,500 shares in the last quarter. 97.74% of the stock is currently owned by institutional investors.
Shutterfly Company Profile
Shutterfly, Inc is a manufacturer and digital retailer of personalized products and services offered through a family of lifestyle brands. The Company offers a range of personalized photo-based products and services. The Company’s segments include Consumer, Enterprise and corporate. The Consumer segment sells the Company’s photo-based products, such as photo books, stationery and greeting cards, other photo-based merchandise, photo prints and also ships, as well as rents the BorrowLenses brand of products.
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