Shutterfly (SFLY) Position Lessened by 6 Meridian

6 Meridian decreased its position in shares of Shutterfly (NASDAQ:SFLY) by 29.8% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 8,944 shares of the technology company’s stock after selling 3,790 shares during the period. 6 Meridian’s holdings in Shutterfly were worth $727,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Spark Investment Management LLC purchased a new position in shares of Shutterfly during the fourth quarter valued at approximately $1,194,000. Penserra Capital Management LLC lifted its stake in shares of Shutterfly by 136.4% during the fourth quarter. Penserra Capital Management LLC now owns 128,714 shares of the technology company’s stock valued at $6,403,000 after buying an additional 74,277 shares during the period. Gardner Lewis Asset Management L P lifted its stake in shares of Shutterfly by 21.3% during the fourth quarter. Gardner Lewis Asset Management L P now owns 31,308 shares of the technology company’s stock valued at $1,558,000 after buying an additional 5,493 shares during the period. Stone Ridge Asset Management LLC purchased a new position in shares of Shutterfly during the fourth quarter valued at approximately $357,000. Finally, Quadrature Capital Ltd purchased a new position in shares of Shutterfly during the fourth quarter valued at approximately $844,000.

In other Shutterfly news, SVP Satish Menon sold 3,980 shares of the stock in a transaction that occurred on Thursday, May 17th. The shares were sold at an average price of $94.76, for a total transaction of $377,144.80. Following the transaction, the senior vice president now owns 28,980 shares of the company’s stock, valued at $2,746,144.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Jason Sebring sold 1,625 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $76.02, for a total transaction of $123,532.50. Following the transaction, the vice president now directly owns 1,625 shares in the company, valued at approximately $123,532.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 143,246 shares of company stock worth $11,727,108. 0.80% of the stock is currently owned by insiders.

Several equities analysts recently issued reports on the stock. Zacks Investment Research raised shares of Shutterfly from a “hold” rating to a “strong-buy” rating and set a $109.00 price objective on the stock in a research note on Friday, May 4th. Goldman Sachs raised shares of Shutterfly from a “sell” rating to a “neutral” rating and upped their price objective for the company from $50.00 to $87.00 in a research note on Wednesday, May 2nd. ValuEngine raised shares of Shutterfly from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 2nd. BidaskClub raised shares of Shutterfly from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 27th. Finally, SunTrust Banks reissued a “buy” rating and set a $100.00 price objective on shares of Shutterfly in a research note on Tuesday, May 8th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and three have issued a strong buy rating to the company. Shutterfly presently has an average rating of “Buy” and a consensus price target of $84.50.

Shutterfly opened at $94.60 on Friday, MarketBeat.com reports. The company has a current ratio of 1.58, a quick ratio of 1.56 and a debt-to-equity ratio of 0.53. The company has a market cap of $3.14 billion, a price-to-earnings ratio of 90.10 and a beta of 0.88. Shutterfly has a fifty-two week low of $39.76 and a fifty-two week high of $95.99.

Shutterfly (NASDAQ:SFLY) last posted its quarterly earnings results on Tuesday, May 1st. The technology company reported ($0.73) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.95) by $0.22. The company had revenue of $199.70 million for the quarter, compared to the consensus estimate of $192.02 million. Shutterfly had a net margin of 3.01% and a return on equity of 7.80%. Shutterfly’s revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.84) earnings per share. equities analysts predict that Shutterfly will post 3.07 earnings per share for the current fiscal year.

Shutterfly announced that its board has initiated a stock repurchase program on Tuesday, January 30th that allows the company to repurchase shares. This repurchase authorization allows the technology company to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

About Shutterfly

Shutterfly, Inc manufactures and retails personalized products and services primarily in the United States, Canada, and the European Community. The company operates through Consumer and Shutterfly Business Solutions segments. It offers a range of personalized photo-based products and services that enable consumers to upload, edit, enhance, organize, find, share, create, print, and preserve their memories.

Institutional Ownership by Quarter for Shutterfly (NASDAQ:SFLY)

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