Pier 88 Investment Partners LLC Sells 5,090 Shares of Shutterfly, Inc. (NASDAQ:SFLY)

Pier 88 Investment Partners LLC lessened its holdings in shares of Shutterfly, Inc. (NASDAQ:SFLY) by 21.2% in the second quarter, HoldingsChannel.com reports. The firm owned 18,863 shares of the technology company’s stock after selling 5,090 shares during the period. Pier 88 Investment Partners LLC’s holdings in Shutterfly were worth $954,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Shutterfly by 48.5% in the 2nd 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 last quarter. Towerview LLC purchased a new stake in shares of Shutterfly during the first quarter valued at approximately $102,000. Janus Henderson Group PLC purchased a new stake in shares of Shutterfly during the second quarter valued at approximately $220,000. DekaBank Deutsche Girozentrale boosted its stake in shares of Shutterfly by 288.9% during the second quarter. DekaBank Deutsche Girozentrale now owns 4,581 shares of the technology company’s stock valued at $231,000 after purchasing an additional 3,403 shares during the period. Finally, Everence Capital Management Inc. purchased a new stake in shares of Shutterfly during the second quarter valued at approximately $233,000.

SFLY stock traded down $0.04 on Tuesday, reaching $50.79. The company’s stock had a trading volume of 16,503 shares, compared to its average volume of 702,418. The business has a fifty day simple moving average of $50.65 and a two-hundred day simple moving average of $46.31. Shutterfly, Inc. has a 12-month low of $35.08 and a 12-month high of $77.88. The firm has a market cap of $1.75 billion, a PE ratio of 16.65 and a beta of 1.25. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.22 and a current ratio of 1.30.

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

SFLY has been the subject of a number of analyst reports. SunTrust Banks lowered Shutterfly from a “buy” rating to a “hold” rating and set a $57.00 price objective for the company. in a research note on Monday, June 10th. ValuEngine raised Shutterfly from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. BidaskClub lowered Shutterfly from a “buy” rating to a “hold” rating in a research note on Friday, August 9th. Goldman Sachs Group raised Shutterfly from a “sell” rating to a “neutral” rating and set a $45.00 price objective for the company in a research note on Tuesday, June 11th. Finally, Zacks Investment Research raised Shutterfly from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a research note on Wednesday, July 17th. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $53.83.

In related news, CEO Christopher North sold 26,753 shares of the firm’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $48.03, for a total value of $1,284,946.59. Following the completion of the sale, the chief executive officer now owns 87,327 shares of the company’s stock, valued at $4,194,315.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Satish Menon sold 11,942 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $53.00, for a total value of $632,926.00. Following the completion of the sale, the senior vice president now directly owns 11,942 shares of the company’s stock, valued at approximately $632,926. The disclosure for this sale can be found here. Insiders sold 77,160 shares of company stock valued at $3,862,303 in the last ninety days. 2.40% of the stock is currently owned by insiders.

Shutterfly Company Profile

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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Want to see what other hedge funds are holding SFLY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shutterfly, Inc. (NASDAQ:SFLY).

Institutional Ownership by Quarter for Shutterfly (NASDAQ:SFLY)

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