Fine Capital Partners L.P. cut its holdings in shares of Shutterfly, Inc. (NASDAQ:SFLY) by 28.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,180,860 shares of the technology company’s stock after selling 465,200 shares during the quarter. Shutterfly comprises approximately 7.4% of Fine Capital Partners L.P.’s investment portfolio, making the stock its 5th biggest position. Fine Capital Partners L.P. owned 3.66% of Shutterfly worth $58,748,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bessemer Group Inc. acquired a new stake in Shutterfly in the 3rd quarter valued at about $112,000. SG Americas Securities LLC purchased a new position in shares of Shutterfly in the 3rd quarter valued at approximately $162,000. Buckhead Capital Management LLC purchased a new position in shares of Shutterfly in the 4th quarter valued at approximately $204,000. Wedge Capital Management L L P NC grew its stake in shares of Shutterfly by 24.8% in the 4th quarter. Wedge Capital Management L L P NC now owns 6,937 shares of the technology company’s stock valued at $345,000 after purchasing an additional 1,377 shares during the last quarter. Finally, Jane Street Group LLC grew its stake in shares of Shutterfly by 31.2% in the 3rd quarter. Jane Street Group LLC now owns 8,816 shares of the technology company’s stock valued at $427,000 after purchasing an additional 2,096 shares during the last quarter.
Shares of Shutterfly, Inc. (NASDAQ SFLY) traded down $0.11 during trading on Wednesday, hitting $85.27. The stock had a trading volume of 444,123 shares, compared to its average volume of 1,265,118. Shutterfly, Inc. has a fifty-two week low of $39.76 and a fifty-two week high of $86.41. The firm has a market cap of $2,761.34, a PE ratio of 91.82 and a beta of 0.93. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 1.38.
Shutterfly (NASDAQ:SFLY) last issued its quarterly earnings results on Tuesday, January 30th. The technology company reported $3.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.86 by $0.25. Shutterfly had a return on equity of 6.99% and a net margin of 2.53%. The firm had revenue of $593.80 million during the quarter, compared to analyst estimates of $556.40 million. During the same period last year, the company posted $2.63 EPS. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. research analysts forecast that Shutterfly, Inc. will post 2.09 EPS for the current year.
Shutterfly announced that its Board of Directors has authorized a share repurchase plan on Tuesday, January 30th that authorizes the company to repurchase shares. This repurchase authorization authorizes the technology company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
A number of research firms recently weighed in on SFLY. BidaskClub upgraded Shutterfly from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 6th. ValuEngine raised Shutterfly from a “sell” rating to a “hold” rating in a report on Friday, December 29th. Aegis reaffirmed a “buy” rating and issued a $73.00 price objective on shares of Shutterfly in a research report on Sunday, February 4th. SunTrust Banks lifted their price objective on Shutterfly to $60.00 and gave the company a “buy” rating in a research report on Friday, January 12th. Finally, Goldman Sachs Group downgraded Shutterfly from a “neutral” rating to a “sell” rating and set a $46.00 price target for the company. in a research report on Wednesday, January 17th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $56.88.
In related news, insider Lisa Blackwood-Kapral sold 633 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $74.34, for a total transaction of $47,057.22. Following the completion of the sale, the insider now directly owns 1,625 shares in the company, valued at $120,802.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Dwayne A. Black sold 16,102 shares of the stock in a transaction on Friday, March 9th. The stock was sold at an average price of $85.29, for a total transaction of $1,373,339.58. Following the transaction, the senior vice president now directly owns 43,975 shares in the company, valued at $3,750,627.75. The disclosure for this sale can be found here. Insiders have sold a total of 271,209 shares of company stock valued at $19,135,865 in the last quarter. Insiders own 0.80% of the company’s stock.
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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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