Norges Bank Purchases New Position in Shutterfly, Inc. (SFLY)

Norges Bank purchased a new position in shares of Shutterfly, Inc. (NASDAQ:SFLY) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 649,243 shares of the technology company’s stock, valued at approximately $26,138,000. Norges Bank owned about 1.93% of Shutterfly as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Bank of New York Mellon Corp increased its holdings in shares of Shutterfly by 1.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 465,094 shares of the technology company’s stock valued at $30,646,000 after acquiring an additional 8,135 shares during the last quarter. First Republic Investment Management Inc. increased its holdings in shares of Shutterfly by 17.0% in the 3rd quarter. First Republic Investment Management Inc. now owns 9,517 shares of the technology company’s stock valued at $627,000 after acquiring an additional 1,385 shares during the last quarter. MetLife Investment Advisors LLC increased its holdings in shares of Shutterfly by 53.3% in the 3rd quarter. MetLife Investment Advisors LLC now owns 23,139 shares of the technology company’s stock valued at $1,525,000 after acquiring an additional 8,047 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Shutterfly by 8.8% in the 3rd quarter. Legal & General Group Plc now owns 78,193 shares of the technology company’s stock valued at $5,212,000 after acquiring an additional 6,315 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Shutterfly by 3.4% in the 3rd quarter. Vanguard Group Inc. now owns 3,304,594 shares of the technology company’s stock valued at $217,739,000 after acquiring an additional 107,154 shares during the last quarter.

Shares of SFLY opened at $39.99 on Friday. The firm has a market cap of $1.37 billion, a P/E ratio of 13.11, a P/E/G ratio of 2.45 and a beta of 1.39. The company has a quick ratio of 1.76, a current ratio of 1.80 and a debt-to-equity ratio of 1.62. Shutterfly, Inc. has a 12 month low of $35.08 and a 12 month high of $100.34.

Shutterfly (NASDAQ:SFLY) last issued its quarterly earnings data on Tuesday, February 5th. The technology company reported $5.19 EPS for the quarter, missing the Zacks’ consensus estimate of $5.28 by ($0.09). The company had revenue of $949.97 million for the quarter, compared to the consensus estimate of $951.60 million. Shutterfly had a return on equity of 18.78% and a net margin of 2.57%. Shutterfly’s quarterly revenue was up 60.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.11 earnings per share. On average, equities analysts forecast that Shutterfly, Inc. will post 0.74 earnings per share for the current fiscal year.

In related news, VP Jason Sebring sold 1,625 shares of the company’s stock in a transaction on Monday, February 25th. The stock was sold at an average price of $46.49, for a total transaction of $75,546.25. Following the completion of the transaction, the vice president now directly owns 1,625 shares in the company, valued at approximately $75,546.25. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Lisa Blackwood-Kapral sold 668 shares of the company’s stock in a transaction on Friday, February 15th. The stock was sold at an average price of $45.93, for a total value of $30,681.24. Following the transaction, the chief accounting officer now owns 1,625 shares of the company’s stock, valued at $74,636.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,823 shares of company stock valued at $1,363,881. 1.30% of the stock is owned by company insiders.

A number of brokerages have recently weighed in on SFLY. Zacks Investment Research downgraded Shutterfly from a “hold” rating to a “sell” rating in a report on Wednesday, March 27th. ValuEngine upgraded Shutterfly from a “sell” rating to a “hold” rating in a report on Friday, February 8th. Finally, BidaskClub downgraded Shutterfly from a “hold” rating to a “sell” rating in a report on Friday, March 1st. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $70.40.

COPYRIGHT VIOLATION WARNING: “Norges Bank Purchases New Position in Shutterfly, Inc. (SFLY)” was reported by Baseball Daily News and is the sole property of of Baseball Daily News. If you are accessing this piece on another website, it was stolen and reposted in violation of U.S. and international copyright and trademark legislation. The original version of this piece can be viewed at https://www.baseballdailydigest.com/news/2019/04/21/norges-bank-purchases-new-position-in-shutterfly-inc-sfly.html.

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.

Read More: How to Track your Portfolio in Google Finance

Institutional Ownership by Quarter for Shutterfly (NASDAQ:SFLY)

Receive News & Ratings for Shutterfly Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shutterfly and related companies with MarketBeat.com's FREE daily email newsletter.