Shutterfly Inc (SFLY) Stock: Park West Nearly Doubles Its Stake

Peter S. Park‘s Park West Asset Management decided to boost its stake in Shutterfly Inc (NASDAQ:SFLY) according to a recent Form 13G filed with the Securities and Exchange Commission. On June 30, the fund held 898,291 common shares of Shutterfly, which has since been nearly doubled, as it currently counts 1.71 million shares of the company among its holdings, which represent 5.0% of the stock’s float.

Shutterfly Inc (NASDAQ:SFLY) is a company that sells personalized photo-based products, operating in these divisions: Consumer, Enterprise and Corporate. Over the past 12 months, the company’s stock has gained 6.8%. In its financial report for the third quarter of 2016, Shutterfly reported a loss per share of $0.86 and revenue of $187.33 million, both of which topped estimates, which had called for a loss per share of $0.92 and revenue of $183.59 million. Recently, Axiom Securities upgraded its rating on Shutterfly’s stock to ‘Buy’ from ‘Hold’, and has a price target of $53 on it, while RBC Capital Markets set a price target of $57 on Shutterfly and has a ‘Buy’ rating on it.

crystal51/Shutterstock.com

At the end of June,  Shutterfly Inc (NASDAQ:SFLY) was held by 22 of the investors from within our database, down by five from a quarter earlier. Among the biggest investors in the company on June 30 were Adam Wolfberg and Steven Landry’s EastBay Asset Management (1.95 million shares), Mario Cibelli’s Marathon Partners (1.67 million shares), Debra Fine’s Fine Capital Partners (1.43 million shares), and Claus Moller’s P2 Capital Partners (1.34 million shares).

You can access the original SEC filing by clicking here.

Ownership Summary Table

Page 1 of 9 – SEC Filing