Bank of Montreal Can reduced its position in shares of Shutterfly, Inc. (NASDAQ:SFLY) by 28.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 29,110 shares of the technology company’s stock after selling 11,601 shares during the period. Bank of Montreal Can owned 0.09% of Shutterfly worth $1,382,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Elkfork Partners LLC purchased a new position in shares of Shutterfly during the first quarter worth about $116,000. First Trust Advisors LP boosted its position in shares of Shutterfly by 66.4% in the first quarter. First Trust Advisors LP now owns 32,520 shares of the technology company’s stock worth $1,570,000 after buying an additional 12,971 shares during the period. Wedge Capital Management L L P NC boosted its position in shares of Shutterfly by 21.6% in the first quarter. Wedge Capital Management L L P NC now owns 8,138 shares of the technology company’s stock worth $393,000 after buying an additional 1,446 shares during the period. Great West Life Assurance Co. Can boosted its position in shares of Shutterfly by 1,257.1% in the first quarter. Great West Life Assurance Co. Can now owns 47,377 shares of the technology company’s stock worth $2,285,000 after buying an additional 43,886 shares during the period. Finally, Canada Pension Plan Investment Board boosted its position in shares of Shutterfly by 6.7% in the first quarter. Canada Pension Plan Investment Board now owns 220,140 shares of the technology company’s stock worth $10,631,000 after buying an additional 13,900 shares during the period.

Shutterfly, Inc. (SFLY) traded down 1.21% during mid-day trading on Friday, hitting $45.09. 114,131 shares of the company’s stock were exchanged. Shutterfly, Inc. has a 12 month low of $41.91 and a 12 month high of $53.99. The stock’s 50 day moving average price is $47.42 and its 200-day moving average price is $48.17. The stock has a market cap of $1.50 billion, a PE ratio of 274.94 and a beta of 0.85.

Shutterfly (NASDAQ:SFLY) last issued its quarterly earnings results on Tuesday, July 25th. The technology company reported ($0.68) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.55) by $0.13. The company had revenue of $209.03 million during the quarter, compared to the consensus estimate of $209.46 million. Shutterfly had a return on equity of 3.61% and a net margin of 0.50%. Shutterfly’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the company earned ($0.48) EPS. Equities analysts expect that Shutterfly, Inc. will post $0.47 EPS for the current fiscal year.

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A number of research analysts recently issued reports on the stock. Robert W. Baird reissued a “neutral” rating and issued a $50.00 price objective (up from $47.00) on shares of Shutterfly in a research note on Saturday, April 29th. Cantor Fitzgerald reissued a “buy” rating and issued a $57.00 price objective on shares of Shutterfly in a research note on Tuesday, May 16th. Zacks Investment Research raised shares of Shutterfly from a “sell” rating to a “hold” rating in a research note on Wednesday, April 26th. Aegis reissued a “buy” rating and issued a $57.00 price objective on shares of Shutterfly in a research note on Wednesday, April 26th. Finally, Royal Bank Of Canada lifted their price objective on shares of Shutterfly from $54.00 to $59.00 and gave the company an “outperform” rating in a research note on Wednesday, April 26th. One analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $54.10.

In other news, Director Ann Mather sold 1,662 shares of the stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $49.86, for a total value of $82,867.32. Following the transaction, the director now owns 6,799 shares of the company’s stock, valued at approximately $338,998.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Lisa Blackwood-Kapral sold 1,250 shares of the stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $46.56, for a total transaction of $58,200.00. Following the completion of the transaction, the insider now directly owns 1,250 shares in the company, valued at approximately $58,200. The disclosure for this sale can be found here. Insiders sold a total of 61,540 shares of company stock worth $3,016,780 in the last three months. Insiders own 5.70% of the company’s stock.

About Shutterfly

Shutterfly, Inc is an online manufacturer and retailer of personalized products and services. The Company focuses on helping consumers manage their memories through the medium of photography. The Company’s segments are Consumer and Shutterfly Business Solutions (SBS). The Consumer segment offers photo-based products, such as photo books, stationery and greeting cards, other photo-based merchandise, photo prints and statement gifts.

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Institutional Ownership by Quarter for Shutterfly (NASDAQ:SFLY)

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