In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Shutterfly Inc. (NASDAQ:SFLY) reported that Park West Asset Management has picked up 2,106,324 of common stock as of 2017-02-22.
The acquisition brings the aggregate amount owned by Park West Asset Management to a total of 2,106,324 representing a 6.2% stake in the company.
For those not familiar with the company, Shutterfly, Inc. is a manufacturer and digital retailer of personalized products and services offered through a family of lifestyle brands. The Company offers a range of personalized photo-based products and services. The Company’s segments include Consumer, Enterprise and corporate. The Consumer segment sells the Company’s 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. The Company’s products and services are offered through a family of lifestyle brands, including Shutterfly, Tiny Prints, Wedding Paper Divas, ThisLife, MyPublisher and BorrowLenses. The Shutterfly brand includes photo books, announcements, as well as custom home decor products and photo gifts. The Shutterfly brand also includes online photo service.
A glance at Shutterfly Inc. (NASDAQ:SFLY)’s key stats reveals a current market capitalization of 1.61 billion based on 33.65 million shares outstanding and a price at last close of $47.18 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2014-02-12, Schoendorf picked up 15,000 at a purchase price of $44.71. This brings their total holding to 67,421 as of the date of the filing.
On the sell side, the most recent transaction saw Wiley unload 4,823 shares at a sale price of $47.35. This brings their total holding to 7,605.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Shutterfly Inc. (NASDAQ:SFLY) as things move forward to see if its progress aligns with these transactions.
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