Shutterfly’s (SFLY) Hold Rating Reiterated at Jefferies Group LLC
Jefferies Group LLC restated their hold rating on shares of Shutterfly, Inc. (NASDAQ:SFLY) in a research note issued to investors on Friday morning. They currently have a $53.00 target price on the technology company’s stock.
SFLY has been the subject of a number of other research reports. BidaskClub downgraded Shutterfly from a hold rating to a sell rating in a research report on Saturday, June 10th. Royal Bank Of Canada lifted their price target on Shutterfly from $54.00 to $59.00 and gave the company an outperform rating in a research report on Wednesday, April 26th. Aegis reiterated a buy rating and set a $57.00 price target on shares of Shutterfly in a research report on Wednesday, April 26th. Cantor Fitzgerald reiterated a buy rating and set a $57.00 price target on shares of Shutterfly in a research report on Tuesday, May 16th. Finally, Zacks Investment Research upgraded Shutterfly from a sell rating to a hold rating in a research report on Tuesday, April 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $53.89.
Shutterfly (NASDAQ SFLY) opened at 47.45 on Friday. The firm has a market cap of $1.58 billion, a P/E ratio of 289.33 and a beta of 0.85. Shutterfly has a 52 week low of $41.91 and a 52 week high of $53.99. The firm’s 50-day moving average price is $47.85 and its 200 day moving average price is $48.59.
Shutterfly (NASDAQ:SFLY) last issued its quarterly earnings results on Tuesday, July 25th. The technology company reported ($0.68) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.55) by $0.13. The business had revenue of $209.03 million for the quarter, compared to the consensus estimate of $209.46 million. Shutterfly had a net margin of 0.50% and a return on equity of 3.61%. The business’s revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.48) EPS. Equities analysts forecast that Shutterfly will post $0.46 earnings per share for the current fiscal year.
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Shutterfly declared that its Board of Directors has authorized a share buyback plan on Tuesday, April 18th that permits the company to buyback $140.00 million in outstanding shares. This buyback authorization permits the technology company to repurchase up to 8.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.
In related news, CEO Christopher North sold 27,606 shares of the firm’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $49.66, for a total transaction of $1,370,913.96. Following the transaction, the chief executive officer now directly owns 40,000 shares of the company’s stock, valued at approximately $1,986,400. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Tracy Layney sold 21,750 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 43,500 shares in the company, valued at $2,114,100. The disclosure for this sale can be found here. Over the last three months, insiders have sold 60,290 shares of company stock worth $2,958,580. 5.70% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Shutterfly by 16.2% in the first quarter. Vanguard Group Inc. now owns 2,838,819 shares of the technology company’s stock worth $137,087,000 after buying an additional 396,567 shares in the last quarter. Park West Asset Management LLC boosted its position in shares of Shutterfly by 31.0% in the first quarter. Park West Asset Management LLC now owns 2,758,936 shares of the technology company’s stock worth $133,229,000 after buying an additional 652,612 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Shutterfly by 1.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,225,110 shares of the technology company’s stock worth $59,160,000 after buying an additional 17,189 shares in the last quarter. State Street Corp boosted its position in shares of Shutterfly by 25.2% in the first quarter. State Street Corp now owns 942,085 shares of the technology company’s stock worth $45,498,000 after buying an additional 189,583 shares in the last quarter. Finally, Macquarie Group Ltd. boosted its position in shares of Shutterfly by 7.6% in the fourth quarter. Macquarie Group Ltd. now owns 495,507 shares of the technology company’s stock worth $24,865,000 after buying an additional 34,941 shares in the last quarter.
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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