Shutterfly (SFLY) Downgraded by Goldman Sachs Group

Goldman Sachs Group lowered shares of Shutterfly (NASDAQ:SFLY) from a neutral rating to a sell rating in a research note released on Wednesday, Marketbeat Ratings reports. Goldman Sachs Group currently has $46.00 price objective on the technology company’s stock.

Other analysts have also issued research reports about the stock. ValuEngine upgraded shares of Shutterfly from a sell rating to a hold rating in a research report on Friday, December 29th. BidaskClub upgraded shares of Shutterfly from a sell rating to a hold rating in a research report on Friday, December 29th. Aegis restated a buy rating and issued a $56.00 target price on shares of Shutterfly in a research report on Tuesday, October 24th. Zacks Investment Research lowered shares of Shutterfly from a hold rating to a sell rating in a research report on Tuesday, October 10th. Finally, SunTrust Banks raised their target price on shares of Shutterfly to $60.00 and gave the company a buy rating in a research report on Friday, January 12th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. Shutterfly has an average rating of Hold and an average price target of $53.90.

Shutterfly (SFLY) traded up $0.67 during midday trading on Wednesday, hitting $52.11. 394,509 shares of the company traded hands, compared to its average volume of 553,579. The firm has a market cap of $1,710.93, a price-to-earnings ratio of 84.05 and a beta of 0.84. Shutterfly has a twelve month low of $39.76 and a twelve month high of $53.88.

Shutterfly (NASDAQ:SFLY) last posted its quarterly earnings results on Tuesday, October 24th. The technology company reported ($0.78) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.79) by $0.01. The business had revenue of $195.44 million for the quarter, compared to analyst estimates of $191.65 million. Shutterfly had a net margin of 0.81% and a return on equity of 4.66%. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.86) EPS. equities research analysts forecast that Shutterfly will post 0.45 EPS for the current year.

In other news, SVP Satish Menon sold 25,000 shares of the firm’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $42.30, for a total transaction of $1,057,500.00. Following the completion of the transaction, the senior vice president now owns 38,221 shares of the company’s stock, valued at $1,616,748.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Michael W. Pope sold 35,000 shares of the firm’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $42.08, for a total transaction of $1,472,800.00. Following the transaction, the chief financial officer now directly owns 17,500 shares of the company’s stock, valued at approximately $736,400. The disclosure for this sale can be found here. Insiders sold 61,003 shares of company stock worth $2,573,821 in the last 90 days. Company insiders own 0.80% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in SFLY. Bamco Inc. NY bought a new position in shares of Shutterfly during the third quarter valued at $36,360,000. SQN Investors LP bought a new position in shares of Shutterfly during the second quarter valued at $16,275,000. Rice Hall James & Associates LLC raised its stake in shares of Shutterfly by 70.9% during the third quarter. Rice Hall James & Associates LLC now owns 801,520 shares of the technology company’s stock valued at $38,858,000 after acquiring an additional 332,434 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of Shutterfly during the second quarter valued at $15,594,000. Finally, Fine Capital Partners L.P. raised its stake in shares of Shutterfly by 19.8% during the third quarter. Fine Capital Partners L.P. now owns 1,646,060 shares of the technology company’s stock valued at $79,801,000 after acquiring an additional 272,200 shares during the last quarter.

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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.

Analyst Recommendations for Shutterfly (NASDAQ:SFLY)

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