Satish Menon Sells 3,980 Shares of Shutterfly (SFLY) Stock

Shutterfly (NASDAQ:SFLY) SVP Satish Menon sold 3,980 shares of Shutterfly stock in a transaction dated Thursday, May 17th. The stock was sold at an average price of $94.76, for a total transaction of $377,144.80. Following the transaction, the senior vice president now directly owns 28,980 shares in the company, valued at $2,746,144.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Shares of SFLY opened at $94.60 on Friday. Shutterfly has a 1-year low of $39.76 and a 1-year high of $95.99. The stock has a market cap of $3.14 billion, a price-to-earnings ratio of 78.18 and a beta of 0.88. The company has a quick ratio of 1.56, a current ratio of 1.58 and a debt-to-equity ratio of 0.53.

Shutterfly (NASDAQ:SFLY) last announced its quarterly earnings results on Tuesday, May 1st. The technology company reported ($0.73) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.95) by $0.22. Shutterfly had a net margin of 3.01% and a return on equity of 7.80%. The business had revenue of $199.70 million during the quarter, compared to analysts’ expectations of $192.02 million. During the same period last year, the business earned ($0.84) earnings per share. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. equities research analysts predict that Shutterfly will post 3.07 earnings per share for the current fiscal year.

Shutterfly announced that its Board of Directors has authorized a share repurchase plan on Tuesday, January 30th that authorizes the company to buyback shares. This buyback authorization authorizes the technology company to repurchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Institutional investors and hedge funds have recently made changes to their positions in the business. O Shaughnessy Asset Management LLC acquired a new stake in shares of Shutterfly during the first quarter valued at about $187,000. Buckhead Capital Management LLC acquired a new stake in shares of Shutterfly during the fourth quarter valued at about $204,000. Element Capital Management LLC acquired a new stake in shares of Shutterfly during the first quarter valued at about $207,000. Xact Kapitalforvaltning AB acquired a new stake in shares of Shutterfly during the fourth quarter valued at about $216,000. Finally, DRW Securities LLC acquired a new stake in shares of Shutterfly during the first quarter valued at about $227,000.

A number of brokerages have commented on SFLY. SunTrust Banks reaffirmed a “buy” rating and set a $100.00 target price on shares of Shutterfly in a research note on Tuesday, May 8th. Zacks Investment Research raised shares of Shutterfly from a “hold” rating to a “strong-buy” rating and set a $109.00 target price on the stock in a research note on Friday, May 4th. ValuEngine raised shares of Shutterfly from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 2nd. Goldman Sachs raised shares of Shutterfly from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $50.00 to $87.00 in a research note on Wednesday, May 2nd. Finally, BidaskClub raised shares of Shutterfly from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 27th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and three have issued a strong buy rating to the company. Shutterfly has a consensus rating of “Buy” and an average price target of $84.50.

About Shutterfly

Shutterfly, Inc manufactures and retails personalized products and services primarily in the United States, Canada, and the European Community. The company operates through Consumer and Shutterfly Business Solutions segments. It offers a range of personalized photo-based products and services that enable consumers to upload, edit, enhance, organize, find, share, create, print, and preserve their memories.

Insider Buying and Selling by Quarter for Shutterfly (NASDAQ:SFLY)

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