Park West Asset Management Lowers stake in Shutterfly (SFLY)

Shutterfly (SFLY) : Park West Asset Management reduced its stake in Shutterfly by 8.06% during the most recent quarter end. The investment management company now holds a total of 926,415 shares of Shutterfly which is valued at $47,256,429 after selling 81,255 shares in Shutterfly , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Shutterfly makes up approximately 4.23% of Park West Asset Management’s portfolio.

Other Hedge Funds, Including , Ellington Management Group sold out all of its stake in SFLY during the most recent quarter. The investment firm sold 40,700 shares of SFLY which is valued $2,076,107. Bayesian Capital Management Lp added SFLY to its portfolio by purchasing 5,304 company shares during the most recent quarter which is valued at $270,557. Shutterfly makes up approx 0.15% of Bayesian Capital Management Lp’s portfolio. Bessemer Group Inc sold out all of its stake in SFLY during the most recent quarter. The investment firm sold 143 shares of SFLY which is valued $7,294.Alliancebernstein boosted its stake in SFLY in the latest quarter, The investment management firm added 25,438 additional shares and now holds a total of 1,454,918 shares of Shutterfly which is valued at $74,215,367. Shutterfly makes up approx 0.06% of Alliancebernstein’s portfolio. Quantbot Technologies Lp added SFLY to its portfolio by purchasing 2,942 company shares during the most recent quarter which is valued at $153,308. Shutterfly makes up approx 0.02% of Quantbot Technologies Lp’s portfolio.

Shutterfly closed down -0.18 points or -0.36% at $50.04 with 4,68,567 shares getting traded on Thursday. Post opening the session at $50.19, the shares hit an intraday low of $49.2515 and an intraday high of $50.69 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Shutterfly reported $-0.48 EPS for the quarter, beating the analyst consensus estimate by $ 0.18 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $-0.66. The company had revenue of $204.00 million for the quarter, compared to analysts expectations of $200.06 million. The company’s revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.63 EPS.

Many Wall Street Analysts have commented on Shutterfly. Company shares were Reiterated by Needham on Jul 28, 2016 to “Buy”, Firm has raised the Price Target to $ 56 from a previous price target of $55 .Axiom Capital Downgraded Shutterfly on Jul 20, 2016 to ” Hold”, Price Target of the shares are set at $52.

Shutterfly Inc. is a manufacturer and digital retailer of personalized photo-based products and services. The Company’s segments include Consumer and Enterprise. Its products and services are offered through a family of lifestyle brands including Shutterfly Tiny Prints Wedding Paper Divas ThisLife MyPublisher and BorrowLenses. The Company produces and sells bound photo books greeting and stationery cards personalized calendars other photo-based merchandise and prints. It sells a range of photo-based merchandise such as calendars mugs canvas prints mouse pads magnets and puzzles. The Consumer segment sells photo-based products such as photo books stationery and greeting cards other photo-based merchandise photo prints and also ships as well as rents the BorrowLenses brand of products. The Enterprise segment is engaged in printing and shipping of direct marketing and other variable data print products and formats.

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