Investors Purchase High Volume of Call Options on Shutterfly (SFLY)

Shutterfly, Inc. (NASDAQ:SFLY) saw unusually large options trading activity on Thursday. Investors purchased 3,033 call options on the company. This represents an increase of approximately 1,844% compared to the average daily volume of 156 call options.

A number of equities analysts have issued reports on SFLY shares. Aegis restated a “buy” rating and set a $57.00 target price on shares of Shutterfly in a research report on Wednesday, December 27th. BidaskClub upgraded shares of Shutterfly from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 6th. SunTrust Banks lifted their target price on shares of Shutterfly to $60.00 and gave the stock a “buy” rating in a research report on Friday, January 12th. Goldman Sachs lowered shares of Shutterfly from a “neutral” rating to a “sell” rating and set a $46.00 price objective for the company. in a research report on Wednesday, January 17th. Finally, Zacks Investment Research lowered shares of Shutterfly from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $61.25.

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NASDAQ:SFLY opened at $83.07 on Friday. The company has a quick ratio of 1.38, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $2,738.97, a PE ratio of 79.11 and a beta of 0.88. Shutterfly has a 1-year low of $39.76 and a 1-year high of $86.41.

Shutterfly (NASDAQ:SFLY) last posted its quarterly earnings data on Tuesday, January 30th. The technology company reported $3.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.86 by $0.25. The business had revenue of $593.80 million during the quarter, compared to analyst estimates of $556.40 million. Shutterfly had a net margin of 2.53% and a return on equity of 6.99%. The company’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.63 earnings per share. research analysts anticipate that Shutterfly will post 2.07 earnings per share for the current fiscal year.

Shutterfly declared that its board has authorized a share repurchase plan on Tuesday, January 30th that permits the company to repurchase shares. This repurchase authorization permits the technology company to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

In other Shutterfly news, CEO Christopher North sold 170,000 shares of Shutterfly stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $67.76, for a total transaction of $11,519,200.00. Following the completion of the transaction, the chief executive officer now owns 97,394 shares in the company, valued at $6,599,417.44. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP John Boris sold 23,907 shares of Shutterfly stock in a transaction dated Monday, April 2nd. The stock was sold at an average price of $79.39, for a total transaction of $1,897,976.73. Following the transaction, the senior vice president now owns 7,500 shares of the company’s stock, valued at approximately $595,425. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 294,978 shares of company stock valued at $21,319,154. 0.80% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of SFLY. SG Americas Securities LLC acquired a new position in Shutterfly during the third quarter worth approximately $162,000. Buckhead Capital Management LLC acquired a new position in Shutterfly during the fourth quarter worth approximately $204,000. Xact Kapitalforvaltning AB acquired a new position in Shutterfly during the fourth quarter worth approximately $216,000. Meadow Creek Investment Management LLC increased its position in Shutterfly by 13.4% during the fourth quarter. Meadow Creek Investment Management LLC now owns 6,052 shares of the technology company’s stock worth $301,000 after purchasing an additional 714 shares during the last quarter. Finally, Wedge Capital Management L L P NC increased its position in Shutterfly by 24.8% during the fourth quarter. Wedge Capital Management L L P NC now owns 6,937 shares of the technology company’s stock worth $345,000 after purchasing an additional 1,377 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.

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