Connors Investor Services Inc. cut its holdings in shares of Shutterfly (NASDAQ:SFLY) by 2.9% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 37,022 shares of the technology company’s stock after selling 1,111 shares during the quarter. Connors Investor Services Inc.’s holdings in Shutterfly were worth $3,008,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Teachers Advisors LLC lifted its position in Shutterfly by 0.7% during the fourth quarter. Teachers Advisors LLC now owns 102,111 shares of the technology company’s stock worth $5,080,000 after buying an additional 694 shares during the period. Meadow Creek Investment Management LLC lifted its position in Shutterfly by 13.4% during the fourth quarter. Meadow Creek Investment Management LLC now owns 6,052 shares of the technology company’s stock worth $301,000 after buying an additional 714 shares during the period. Thrivent Financial for Lutherans lifted its position in Shutterfly by 5.5% during the first quarter. Thrivent Financial for Lutherans now owns 21,888 shares of the technology company’s stock worth $1,778,000 after buying an additional 1,149 shares during the period. Wedge Capital Management L L P NC lifted its position in Shutterfly by 24.8% during the fourth quarter. Wedge Capital Management L L P NC now owns 6,937 shares of the technology company’s stock worth $345,000 after buying an additional 1,377 shares during the period. Finally, Swiss National Bank lifted its position in Shutterfly by 3.8% during the first quarter. Swiss National Bank now owns 52,300 shares of the technology company’s stock worth $4,249,000 after buying an additional 1,900 shares during the period.

SFLY has been the topic of several recent analyst reports. Robert W. Baird increased their target price on Shutterfly to $85.00 and gave the stock a “neutral” rating in a research report on Friday, April 6th. Aegis reiterated a “buy” rating and set a $73.00 target price on shares of Shutterfly in a research report on Sunday, February 4th. BidaskClub upgraded Shutterfly from a “hold” rating to a “buy” rating in a research report on Saturday, February 3rd. Zacks Investment Research downgraded Shutterfly from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 3rd. Finally, SunTrust Banks reiterated a “buy” rating and set a $100.00 target price on shares of Shutterfly in a research report on Tuesday, May 8th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and three have issued a strong buy rating to the stock. Shutterfly has a consensus rating of “Buy” and a consensus price target of $84.50.

Shutterfly stock opened at $93.77 on Friday. The stock has a market capitalization of $3.10 billion, a PE ratio of 89.30 and a beta of 0.88. The company has a current ratio of 1.58, a quick ratio of 1.56 and a debt-to-equity ratio of 0.53. Shutterfly has a 12 month low of $39.76 and a 12 month high of $96.58.

Shutterfly (NASDAQ:SFLY) last released its quarterly earnings data on Tuesday, May 1st. The technology company reported ($0.73) EPS for the quarter, topping analysts’ consensus estimates of ($0.95) by $0.22. The company had revenue of $199.70 million for 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 company’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period last year, the business posted ($0.84) EPS. equities analysts forecast that Shutterfly will post 3.07 earnings per share for the current fiscal year.

Shutterfly declared that its board has approved a share repurchase program on Tuesday, January 30th that permits the company to repurchase outstanding shares. This repurchase authorization permits the technology company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

In other news, SVP Ishantha Lokuge sold 11,958 shares of the firm’s stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $80.60, for a total value of $963,814.80. Following the transaction, the senior vice president now directly owns 31,706 shares in the company, valued at approximately $2,555,503.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Satish Menon sold 3,980 shares of the firm’s stock in a transaction dated Thursday, May 17th. The stock was sold at an average price of $94.76, for a total value of $377,144.80. Following the completion of the transaction, the senior vice president now owns 28,980 shares in the company, valued at $2,746,144.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 93,702 shares of company stock worth $7,987,278. Company insiders own 0.80% of the company’s stock.

About Shutterfly

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.

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

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.