Shutterfly, Inc. (NASDAQ:SFLY)’s share price hit a new 52-week high on Thursday . The stock traded as high as $78.21 and last traded at $76.73, with a volume of 841600 shares trading hands. The stock had previously closed at $76.73.
SFLY has been the topic of several recent analyst reports. Aegis restated a “buy” rating and set a $73.00 price objective on shares of Shutterfly in a research note on Sunday, February 4th. Goldman Sachs Group cut Shutterfly from a “neutral” rating to a “sell” rating and set a $46.00 target price on the stock. in a research note on Wednesday, January 17th. SunTrust Banks lifted their target price on Shutterfly to $60.00 and gave the stock a “buy” rating in a research note on Friday, January 12th. BidaskClub upgraded Shutterfly from a “sell” rating to a “hold” rating in a research note on Friday, December 29th. Finally, ValuEngine upgraded Shutterfly from a “sell” rating to a “hold” rating in a research note on Friday, December 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. Shutterfly presently has a consensus rating of “Hold” and an average price target of $56.88.
The company has a market capitalization of $2,470.64, a P/E ratio of 82.51 and a beta of 1.11. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 1.38.
Shutterfly announced that its Board of Directors has authorized a stock repurchase program 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 programs are often an indication that the company’s board believes its stock is undervalued.
In related news, insider Lisa Blackwood-Kapral sold 633 shares of Shutterfly stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $74.34, for a total value of $47,057.22. Following the completion of the sale, the insider now owns 1,625 shares of the company’s stock, valued at approximately $120,802.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Christopher North sold 170,000 shares of Shutterfly stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $67.76, for a total value of $11,519,200.00. Following the completion of the sale, the chief executive officer now directly owns 97,394 shares of the company’s stock, valued at approximately $6,599,417.44. The disclosure for this sale can be found here. In the last three months, insiders sold 237,970 shares of company stock valued at $16,396,930. 0.80% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Xact Kapitalforvaltning AB purchased a new stake in Shutterfly in the 4th quarter worth about $216,000. MetLife Investment Advisors LLC purchased a new stake in Shutterfly in the 4th quarter worth about $751,000. Vident Investment Advisory LLC purchased a new stake in Shutterfly in the 4th quarter worth about $566,000. PEAK6 Investments L.P. purchased a new stake in Shutterfly in the 4th quarter worth about $755,000. Finally, Millennium Management LLC increased its holdings in Shutterfly by 360.3% in the 4th quarter. Millennium Management LLC now owns 39,857 shares of the technology company’s stock worth $1,983,000 after acquiring an additional 31,199 shares during the last quarter.
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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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