First Mercantile Trust Co. Has $123,000 Position in Shutterfly Inc. (SFLY)
First Mercantile Trust Co. reduced its position in shares of Shutterfly Inc. (NASDAQ:SFLY) by 3.3% during the second quarter, Holdings Channel reports. The firm owned 2,640 shares of the company’s stock after selling 90 shares during the period. First Mercantile Trust Co.’s holdings in Shutterfly were worth $123,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Shutterfly by 4.8% in the second quarter. Vanguard Group Inc. now owns 2,333,253 shares of the company’s stock worth $108,753,000 after buying an additional 107,457 shares during the period. Dimensional Fund Advisors LP increased its stake in Shutterfly by 4.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,293,054 shares of the company’s stock worth $60,269,000 after buying an additional 57,753 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in Shutterfly by 8.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 966,972 shares of the company’s stock worth $44,838,000 after buying an additional 76,050 shares during the period. Renaissance Technologies LLC increased its stake in Shutterfly by 286.6% in the first quarter. Renaissance Technologies LLC now owns 584,100 shares of the company’s stock worth $27,085,000 after buying an additional 433,000 shares during the period. Finally, Rice Hall James & Associates LLC increased its stake in Shutterfly by 0.8% in the second quarter. Rice Hall James & Associates LLC now owns 347,523 shares of the company’s stock worth $16,198,000 after buying an additional 2,637 shares during the period. Hedge funds and other institutional investors own 97.74% of the company’s stock.
Shutterfly Inc. (NASDAQ:SFLY) opened at 46.11 on Friday. Shutterfly Inc. has a 52 week low of $35.91 and a 52 week high of $54.60. The firm has a market cap of $1.57 billion, a P/E ratio of 73.19 and a beta of 1.17. The company has a 50-day moving average of $48.46 and a 200 day moving average of $48.04.
Shutterfly (NASDAQ:SFLY) last announced its earnings results on Wednesday, July 27th. The company reported ($0.48) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.65) by $0.17. Shutterfly had a return on equity of 4.86% and a net margin of 2.01%. The business earned $204 million during the quarter, compared to analysts’ expectations of $200.73 million. During the same quarter last year, the business posted ($0.63) earnings per share. The company’s quarterly revenue was up 10.9% on a year-over-year basis. On average, equities analysts predict that Shutterfly Inc. will post $0.55 earnings per share for the current year.
SFLY has been the subject of a number of recent analyst reports. Zacks Investment Research raised Shutterfly from a “hold” rating to a “strong-buy” rating and set a $51.00 target price for the company in a report on Monday. Cantor Fitzgerald reissued a “buy” rating and issued a $55.00 target price on shares of Shutterfly in a report on Tuesday, August 9th. Jefferies Group reissued a “hold” rating and issued a $55.00 target price on shares of Shutterfly in a report on Thursday, September 22nd. Axiom Securities downgraded Shutterfly from a “buy” rating to a “hold” rating and set a $52.00 target price for the company. in a report on Wednesday, July 20th. Finally, Goldman Sachs Group Inc. raised their target price on Shutterfly from $48.00 to $50.00 and gave the company a “neutral” rating in a report on Thursday, July 28th. Six analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $52.58.
In other news, SVP Ishantha Lokuge sold 3,259 shares of the company’s stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $50.02, for a total transaction of $163,015.18. Following the completion of the sale, the senior vice president now directly owns 8,500 shares of the company’s stock, valued at $425,170. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Thomas David Hughes sold 1,000 shares of the company’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $51.61, for a total value of $51,610.00. Following the sale, the director now directly owns 3,957 shares of the company’s stock, valued at $204,220.77. The disclosure for this sale can be found here. Insiders own 5.70% of the company’s stock.
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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