Shutterfly (SFLY) Shares Down 17.4% After Insider Selling

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Shares of Shutterfly, Inc. (NASDAQ:SFLY) traded down 17.4% on Wednesday following insider selling activity. The company traded as low as $49.49 and last traded at $50.00. 5,478,166 shares traded hands during mid-day trading, an increase of 528% from the average session volume of 871,975 shares. The stock had previously closed at $60.54.

Specifically, SVP Dwayne A. Black sold 3,352 shares of the company’s stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $73.37, for a total value of $245,936.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael W. Pope sold 17,458 shares of the company’s stock in a transaction on Monday, October 29th. The shares were sold at an average price of $58.60, for a total value of $1,023,038.80. Following the completion of the sale, the chief financial officer now owns 17,500 shares of the company’s stock, valued at approximately $1,025,500. The disclosure for this sale can be found here. Insiders have sold a total of 56,222 shares of company stock valued at $3,731,954 in the last quarter. 1.30% of the stock is currently owned by insiders.

SFLY has been the subject of several research analyst reports. SunTrust Banks cut their price objective on Shutterfly to $100.00 and set a “buy” rating for the company in a report on Wednesday, October 17th. TheStreet lowered Shutterfly from a “b-” rating to a “c+” rating in a report on Tuesday, September 4th. Zacks Investment Research upgraded Shutterfly from a “sell” rating to a “hold” rating in a report on Thursday, October 18th. ValuEngine lowered Shutterfly from a “buy” rating to a “hold” rating in a report on Wednesday, August 8th. Finally, Robert W. Baird upped their price objective on Shutterfly from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Friday, July 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. Shutterfly currently has a consensus rating of “Hold” and a consensus target price of $90.80.

The firm has a market cap of $1.97 billion, a P/E ratio of 47.62, a price-to-earnings-growth ratio of 1.00 and a beta of 0.95. The company has a debt-to-equity ratio of 2.01, a current ratio of 1.72 and a quick ratio of 1.66.

Shutterfly (NASDAQ:SFLY) last announced its earnings results on Tuesday, October 30th. The technology company reported ($2.20) EPS for the quarter, beating the consensus estimate of ($2.42) by $0.22. Shutterfly had a return on equity of 13.03% and a net margin of 2.26%. The business had revenue of $368.76 million during the quarter, compared to the consensus estimate of $377.54 million. During the same period in the prior year, the business posted ($0.78) earnings per share. Shutterfly’s revenue was up 88.7% compared to the same quarter last year. Sell-side analysts predict that Shutterfly, Inc. will post 2.81 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Advisors Preferred LLC lifted its holdings in shares of Shutterfly by 116.6% during the second quarter. Advisors Preferred LLC now owns 1,174 shares of the technology company’s stock valued at $106,000 after purchasing an additional 632 shares during the last quarter. Fortis Advisors LLC purchased a new stake in shares of Shutterfly during the second quarter valued at $133,000. Denali Advisors LLC purchased a new stake in shares of Shutterfly during the second quarter valued at $189,000. CIBC Asset Management Inc purchased a new stake in shares of Shutterfly during the second quarter valued at $213,000. Finally, Highland Capital Management LP purchased a new stake in shares of Shutterfly during the second quarter valued at $225,000.

About Shutterfly (NASDAQ:SFLY)

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.

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