Panagora Asset Management Inc. purchased a new position in shares of Shutterfly, Inc. (NASDAQ:SFLY) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,765 shares of the technology company’s stock, valued at approximately $291,000.

Other hedge funds also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Shutterfly by 48.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,416 shares of the technology company’s stock worth $122,000 after buying an additional 789 shares during the period. Janus Henderson Group PLC acquired a new stake in shares of Shutterfly during the 2nd quarter worth $220,000. DekaBank Deutsche Girozentrale grew its holdings in shares of Shutterfly by 288.9% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 4,581 shares of the technology company’s stock worth $231,000 after purchasing an additional 3,403 shares in the last quarter. Everence Capital Management Inc. acquired a new stake in shares of Shutterfly during the second quarter valued at about $233,000. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Shutterfly during the first quarter valued at about $237,000.

A number of equities analysts have recently issued reports on the company. BidaskClub downgraded Shutterfly from a “hold” rating to a “sell” rating in a research report on Saturday, September 7th. Raymond James downgraded Shutterfly from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 11th. Goldman Sachs Group upgraded Shutterfly from a “sell” rating to a “neutral” rating and set a $45.00 price objective for the company in a research report on Tuesday, June 11th. Aegis downgraded Shutterfly from a “buy” rating to a “hold” rating in a research report on Monday, June 17th. Finally, ValuEngine upgraded Shutterfly from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $53.83.

SFLY stock traded up $0.01 during mid-day trading on Friday, reaching $50.92. The company’s stock had a trading volume of 8,569 shares, compared to its average volume of 360,558. The company has a market cap of $1.75 billion, a price-to-earnings ratio of 16.70 and a beta of 1.24. The business’s 50 day moving average price is $50.78 and its 200 day moving average price is $46.90. The company has a current ratio of 1.30, a quick ratio of 1.22 and a debt-to-equity ratio of 1.60. Shutterfly, Inc. has a 12 month low of $35.08 and a 12 month high of $74.24.

Shutterfly (NASDAQ:SFLY) last issued its earnings results on Wednesday, August 7th. The technology company reported ($0.23) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.23). Shutterfly had a return on equity of 4.37% and a net margin of 0.36%. The business had revenue of $473.42 million during the quarter, compared to the consensus estimate of $475.09 million. As a group, equities analysts expect that Shutterfly, Inc. will post 0.8 EPS for the current fiscal year.

In other Shutterfly news, SVP Dennis Gregory Hintz sold 1,047 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $50.54, for a total value of $52,915.38. Following the completion of the sale, the senior vice president now owns 4,451 shares of the company’s stock, valued at $224,953.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Scott Arnold sold 12,543 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $50.59, for a total value of $634,550.37. Following the completion of the sale, the insider now directly owns 12,543 shares of the company’s stock, valued at approximately $634,550.37. The disclosure for this sale can be found here. Insiders sold 38,465 shares of company stock valued at $1,944,431 in the last three months. Insiders own 2.40% of the company’s stock.

About Shutterfly

Shutterfly, Inc manufactures and retails personalized products primarily in the United States, Canada, and the European Community. The company operates through three reportable segments: Shutterfly Consumer, Lifetouch, and Shutterfly Business Solutions. The Shutterfly Consumer segment provides products, such as portraits, cards and stationery items, professionally-bound photo books and year books, personalized gifts and home décor products, and calendars and prints; and mugs, ornaments, candles, pillows, and blankets through the Shutterfly, Tiny Prints, and Groovebook domains, as well as rents photographic and video equipment under BorrowLenses brand.

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Institutional Ownership by Quarter for Shutterfly (NASDAQ:SFLY)

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