BNP Paribas Arbitrage SA Raises Stake in Shutterfly, Inc. (SFLY)

BNP Paribas Arbitrage SA lifted its holdings in shares of Shutterfly, Inc. (NASDAQ:SFLY) by 10.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,034 shares of the technology company’s stock after purchasing an additional 1,244 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Shutterfly were worth $619,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of SFLY. Elkfork Partners LLC acquired a new stake in shares of Shutterfly during the first quarter worth about $116,000. LS Investment Advisors LLC raised its holdings in 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 acquiring an additional 1,648 shares in the last quarter. Meadow Creek Investment Management LLC acquired a new stake in Shutterfly in the first quarter valued at approximately $141,000. Ameritas Investment Partners Inc. acquired a new stake in Shutterfly in the first quarter valued at approximately $144,000. Finally, Amalgamated Bank raised its holdings in Shutterfly by 8.2% in the first quarter. Amalgamated Bank now owns 4,591 shares of the technology company’s stock valued at $222,000 after acquiring an additional 346 shares in the last quarter.

In other Shutterfly news, SVP Tracy Layney sold 21,750 shares of the company’s stock in a transaction that occurred on Monday, June 19th. The stock was 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 of the company’s stock, valued at approximately $2,114,100. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Lisa Blackwood-Kapral sold 1,250 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $46.56, for a total value of $58,200.00. Following the completion of the transaction, the insider now directly owns 1,250 shares in the company, valued at $58,200. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,836 shares of company stock worth $1,493,826. 5.70% of the stock is currently owned by corporate insiders.

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Several analysts recently weighed in on SFLY shares. Zacks Investment Research raised shares of Shutterfly from a “hold” rating to a “buy” rating and set a $53.00 target price on the stock in a report on Monday, July 17th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $57.00 target price on shares of Shutterfly in a report on Tuesday, May 16th. SunTrust Banks, Inc. started coverage on shares of Shutterfly in a report on Tuesday, August 15th. They issued a “buy” rating and a $56.00 target price on the stock. TheStreet cut shares of Shutterfly from a “b-” rating to a “c+” rating in a report on Tuesday, June 13th. Finally, ValuEngine raised shares of Shutterfly from a “sell” rating to a “hold” rating in a report on Tuesday, June 6th. Two analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $54.10.

Shares of Shutterfly, Inc. (NASDAQ:SFLY) opened at 47.56 on Wednesday. The firm’s 50-day moving average is $46.55 and its 200-day moving average is $48.12. 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 $1.59 billion, a PE ratio of 290.00 and a beta of 0.89.

Shutterfly (NASDAQ:SFLY) last announced its 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). Shutterfly had a net margin of 0.50% and a return on equity of 3.61%. The business had revenue of $209.03 million during the quarter, compared to analyst estimates of $209.46 million. During the same period in the previous year, the company earned ($0.48) earnings per share. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. Equities analysts expect that Shutterfly, Inc. will post $0.47 earnings per share for the current fiscal year.

Shutterfly 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.

Institutional Ownership by Quarter for Shutterfly (NASDAQ:SFLY)

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