Goldman Sachs Group Inc. lowered its holdings in shares of Shutterfly, Inc. (NASDAQ:SFLY) by 17.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 139,490 shares of the technology company’s stock after selling 29,715 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.42% of Shutterfly worth $6,626,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Riverhead Capital Management LLC boosted its position in Shutterfly by 62.1% during the second quarter. Riverhead Capital Management LLC now owns 2,431 shares of the technology company’s stock worth $116,000 after purchasing an additional 931 shares in the last quarter. Quantbot Technologies LP purchased a new position in Shutterfly during the second quarter worth approximately $119,000. LS Investment Advisors LLC boosted its position in Shutterfly by 132.9% during the second quarter. LS Investment Advisors LLC now owns 2,888 shares of the technology company’s stock worth $137,000 after purchasing an additional 1,648 shares in the last quarter. Pinebridge Investments L.P. boosted its position in Shutterfly by 1.4% during the second quarter. Pinebridge Investments L.P. now owns 4,450 shares of the technology company’s stock worth $211,000 after purchasing an additional 60 shares in the last quarter. Finally, Amalgamated Bank boosted its position in Shutterfly by 8.2% during the first quarter. Amalgamated Bank now owns 4,591 shares of the technology company’s stock worth $222,000 after purchasing an additional 346 shares in the last quarter.
Shares of Shutterfly, Inc. (NASDAQ:SFLY) opened at 48.70 on Friday. Shutterfly, Inc. has a 12-month low of $41.91 and a 12-month high of $53.99. The firm has a market cap of $1.62 billion, a PE ratio of 296.95 and a beta of 0.90. The company has a 50 day moving average price of $48.08 and a 200 day moving average price of $48.47.
Shutterfly (NASDAQ:SFLY) last posted its earnings results 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 company had revenue of $209.03 million during the quarter, compared to analysts’ expectations of $209.46 million. During the same period in the previous year, the company posted ($0.48) EPS. Shutterfly’s quarterly revenue was up 2.5% compared to the same quarter last year. On average, analysts forecast that Shutterfly, Inc. will post $0.41 earnings per share for the current fiscal year.
In related news, VP Jason Sebring sold 644 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $48.30, for a total value of $31,105.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Ishantha Lokuge sold 7,162 shares of the company’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $48.85, for a total value of $349,863.70. Following the completion of the sale, the senior vice president now directly owns 7,162 shares in the company, valued at approximately $349,863.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,894 shares of company stock worth $576,159. 5.70% of the stock is owned by corporate insiders.
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SFLY has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Shutterfly from a “hold” rating to a “buy” rating and set a $53.00 price target on the stock in a research report on Monday, July 17th. SunTrust Banks, Inc. assumed coverage on Shutterfly in a report on Tuesday, August 15th. They set a “buy” rating and a $56.00 target price for the company. Jefferies Group LLC reissued a “hold” rating and set a $53.00 target price on shares of Shutterfly in a report on Friday, August 4th. ValuEngine raised Shutterfly from a “sell” rating to a “hold” rating in a report on Friday, September 22nd. Finally, Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and set a $47.00 target price on shares of Shutterfly in a report on Wednesday, October 11th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $53.45.
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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