Park West Asset Management LLC Sells 830,343 Shares of Shutterfly, Inc. (SFLY)

Park West Asset Management LLC lessened its stake in shares of Shutterfly, Inc. (NASDAQ:SFLY) by 48.6% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 878,740 shares of the technology company’s stock after selling 830,343 shares during the period. Shutterfly accounts for 3.2% of Park West Asset Management LLC’s holdings, making the stock its 7th largest position. Park West Asset Management LLC’s holdings in Shutterfly were worth $71,398,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. raised its position in Shutterfly by 8.6% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 244,681 shares of the technology company’s stock valued at $12,173,000 after purchasing an additional 19,306 shares during the last quarter. Teacher Retirement System of Texas bought a new position in Shutterfly in the 4th quarter valued at $516,000. California Public Employees Retirement System raised its position in Shutterfly by 6.5% in the 4th quarter. California Public Employees Retirement System now owns 79,098 shares of the technology company’s stock valued at $3,935,000 after purchasing an additional 4,799 shares during the last quarter. KBC Group NV raised its position in Shutterfly by 30.9% in the 4th quarter. KBC Group NV now owns 106,253 shares of the technology company’s stock valued at $5,286,000 after purchasing an additional 25,088 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in Shutterfly by 430.8% in the 4th quarter. Wells Fargo & Company MN now owns 395,028 shares of the technology company’s stock valued at $19,653,000 after purchasing an additional 320,604 shares during the last quarter.

SFLY has been the subject of several research analyst reports. BidaskClub upgraded Shutterfly from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 6th. Zacks Investment Research downgraded Shutterfly from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 3rd. Robert W. Baird lifted their price objective on Shutterfly to $85.00 and gave the company a “neutral” rating in a research report on Friday, April 6th. Goldman Sachs Group upgraded Shutterfly from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $50.00 to $87.00 in a research report on Wednesday, May 2nd. Finally, SunTrust Banks lifted their price objective on Shutterfly to $100.00 and gave the company a “buy” rating in a research report on Wednesday, May 2nd. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. Shutterfly presently has a consensus rating of “Buy” and an average price target of $86.33.

In other news, CEO Christopher North sold 9,955 shares of the business’s stock in a transaction on Monday, June 4th. The stock was sold at an average price of $95.07, for a total transaction of $946,421.85. Following the completion of the sale, the chief executive officer now owns 62,394 shares in the company, valued at $5,931,797.58. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP John Boris sold 23,907 shares of the business’s stock in a transaction on Monday, April 2nd. The stock was sold at an average price of $79.39, for a total value of $1,897,976.73. Following the sale, 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 100,399 shares of company stock valued at $9,049,190. 1.30% of the stock is currently owned by corporate insiders.

SFLY stock opened at $96.47 on Thursday. The firm has a market cap of $3.22 billion, a PE ratio of 91.88 and a beta of 0.90. Shutterfly, Inc. has a twelve month low of $39.76 and a twelve month high of $100.34. 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 released its earnings results on Tuesday, May 1st. The technology company reported ($0.73) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.95) by $0.22. The company had revenue of $199.70 million during the quarter, compared to the consensus estimate of $192.02 million. Shutterfly had a return on equity of 7.80% and a net margin of 3.01%. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.84) earnings per share. equities research analysts predict that Shutterfly, Inc. will post 3.03 earnings per share for the current fiscal year.

Shutterfly Profile

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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Institutional Ownership by Quarter for Shutterfly (NASDAQ:SFLY)

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