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

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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.

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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).

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You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Park West Asset Management 1,705,393 0 1,705,393 0 1,705,393 5.0%
Peter S. Park 1,705,393 0 1,705,393 0 1,705,393 5.0%

Peter S. Park
Peter S. Park
Park West Asset Management

Page 1 of 9 – SEC Filing


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No.  )*
SHUTTERFLY, INC.
(Name of Issuer)
COMMON STOCK, $0.0001 PAR VALUE PER SHARE
(Title of Class of Securities)
82568P304
(CUSIP Number)
OCTOBER 14, 2016
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule 13G is filed:
  Rule 13d-1(b)
  Rule 13d-1(c)
  Rule 13d-1(d)
* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

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