Louisiana State Employees Retirement System Raises Position in Shutterfly, Inc. (SFLY)
Louisiana State Employees Retirement System boosted its stake in shares of Shutterfly, Inc. (NASDAQ:SFLY) by 0.7% during the second quarter, Holdings Channel reports. The firm owned 13,800 shares of the technology company’s stock after buying an additional 100 shares during the period. Louisiana State Employees Retirement System’s holdings in Shutterfly were worth $656,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. Nisa Investment Advisors LLC raised its position in shares of Shutterfly by 1.7% in the second quarter. Nisa Investment Advisors LLC now owns 9,160 shares of the technology company’s stock valued at $449,000 after buying an additional 150 shares during the period. LS Investment Advisors LLC raised its position in shares of Shutterfly by 132.9% in the second quarter. LS Investment Advisors LLC now owns 2,888 shares of the technology company’s stock valued at $137,000 after buying an additional 1,648 shares during the period. State of Alaska Department of Revenue raised its position in shares of Shutterfly by 78.6% in the second quarter. State of Alaska Department of Revenue now owns 6,663 shares of the technology company’s stock valued at $316,000 after buying an additional 2,933 shares during the period. Fox Run Management L.L.C. purchased a new position in shares of Shutterfly during the second quarter valued at $499,000. Finally, Public Employees Retirement System of Ohio raised its position in shares of Shutterfly by 14.9% in the first quarter. Public Employees Retirement System of Ohio now owns 10,704 shares of the technology company’s stock valued at $517,000 after buying an additional 1,388 shares during the period.
Shutterfly, Inc. (NASDAQ:SFLY) traded down 0.02% during trading on Monday, hitting $47.72. The stock had a trading volume of 101,659 shares. 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 $1.59 billion, a price-to-earnings ratio of 290.98 and a beta of 0.85. The company has a 50-day moving average price of $47.85 and a 200-day moving average price of $48.59.
Shutterfly (NASDAQ:SFLY) last issued its quarterly earnings data on Tuesday, July 25th. The technology company reported ($0.68) earnings per share (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 for the quarter, compared to the consensus estimate of $209.46 million. During the same period in the previous year, the firm earned ($0.48) EPS. The company’s revenue was up 2.5% on a year-over-year basis. Equities research analysts forecast that Shutterfly, Inc. will post $0.46 EPS for the current year.
Shutterfly declared that its Board of Directors has authorized a stock repurchase program on Tuesday, April 18th that permits the company to repurchase $140.00 million in shares. This repurchase authorization permits the technology company to buy up to 8.5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.
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Several equities analysts have weighed in on the company. BidaskClub lowered Shutterfly from a “sell” rating to a “strong sell” rating in a report on Saturday. Jefferies Group LLC reissued a “hold” rating and set a $53.00 price objective on shares of Shutterfly in a report on Friday. Zacks Investment Research raised Shutterfly from a “hold” rating to a “strong-buy” rating and set a $57.00 price objective for the company in a report on Friday, July 28th. TheStreet lowered Shutterfly from a “b-” rating to a “c+” rating in a report on Tuesday, June 13th. Finally, ValuEngine raised Shutterfly from a “sell” rating to a “hold” rating in a report on Tuesday, June 6th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $53.89.
In related news, SVP Tracy Layney sold 21,750 shares of the company’s stock in a transaction on Monday, June 19th. The shares were sold at an average price of $48.60, for a total value of $1,057,050.00. Following the completion of the transaction, the senior vice president now owns 43,500 shares of the company’s stock, valued at approximately $2,114,100. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Betsy Rafael sold 1,060 shares of the company’s stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $47.76, for a total transaction of $50,625.60. Following the completion of the transaction, the director now directly owns 5,046 shares of the company’s stock, valued at approximately $240,996.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 60,290 shares of company stock valued at $2,958,580. Insiders own 5.70% of the company’s stock.
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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