Shutterfly Surges Following News That Point72 Increased Its Stake

Shares of Shutterfly, Inc. SFLY surged 4 percent in after-hours trading following news that Point72 Asset Management L.P. had increased its stake in the company.

Point72’s 13G filing with the SEC showed that its stake in the company grew from 5.24 percent to 6 percent as of September 30, 2014.

Shutterfly traded at $41.57 in the after-hours session, up 4 percent.