California State Teachers Retirement System decreased its holdings in shares of Shutterstock, Inc. (NYSE:SSTK) by 11.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 32,915 shares of the business services provider’s stock after selling 4,457 shares during the period. California State Teachers Retirement System owned 0.10% of Shutterstock worth $1,451,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. BlackRock Inc. boosted its stake in Shutterstock by 140,371.5% in the 1st quarter. BlackRock Inc. now owns 2,286,876 shares of the business services provider’s stock worth $94,562,000 after purchasing an additional 2,285,248 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Shutterstock by 167.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 824,055 shares of the business services provider’s stock worth $36,323,000 after purchasing an additional 516,226 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in Shutterstock in the 2nd quarter worth approximately $20,224,000. Jackson Square Partners LLC boosted its stake in Shutterstock by 11.1% in the 2nd quarter. Jackson Square Partners LLC now owns 2,493,419 shares of the business services provider’s stock worth $109,909,000 after purchasing an additional 250,067 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in Shutterstock by 89.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 313,230 shares of the business services provider’s stock worth $13,807,000 after purchasing an additional 148,277 shares in the last quarter. 59.95% of the stock is currently owned by institutional investors and hedge funds.
In other Shutterstock news, insider Jeffrey Kane Weiser sold 4,449 shares of Shutterstock stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $38.00, for a total transaction of $169,062.00. Following the sale, the insider now owns 30,500 shares of the company’s stock, valued at approximately $1,159,000. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 47.30% of the company’s stock.
Shares of Shutterstock, Inc. (SSTK) traded up $0.30 during midday trading on Wednesday, reaching $41.14. 312,851 shares of the company traded hands, compared to its average volume of 345,903. The stock has a market cap of $1,436.58, a price-to-earnings ratio of 52.44 and a beta of 1.50. Shutterstock, Inc. has a 12 month low of $29.85 and a 12 month high of $55.07.
Shutterstock (NYSE:SSTK) last issued its quarterly earnings results on Tuesday, October 31st. The business services provider reported $0.31 EPS for the quarter, topping the consensus estimate of $0.30 by $0.01. The company had revenue of $141.10 million during the quarter, compared to analyst estimates of $133.24 million. Shutterstock had a net margin of 4.58% and a return on equity of 9.71%. The firm’s revenue was up 14.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.40 EPS. sell-side analysts anticipate that Shutterstock, Inc. will post 0.69 EPS for the current fiscal year.
Several analysts have commented on SSTK shares. BidaskClub upgraded shares of Shutterstock from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 28th. Zacks Investment Research upgraded shares of Shutterstock from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a research note on Saturday, November 4th. Jefferies Group lifted their price objective on shares of Shutterstock from $30.00 to $34.00 and gave the company an “underperform” rating in a research note on Wednesday, November 1st. ValuEngine cut shares of Shutterstock from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. Finally, SunTrust Banks began coverage on shares of Shutterstock in a report on Tuesday, August 15th. They set a “hold” rating and a $36.00 target price for the company. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $39.17.
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Shutterstock, Inc (Shutterstock) is a global technology company that operates a two-sided marketplace for professionals to license content. The Company’s library of content includes digital imagery, which consists of licensed photographs, vectors, illustrations and video clips that customers use in their visual communications, such as Websites, digital and print marketing materials, corporate communications, books, publications and video content, and commercial music, which consists of music tracks and sound effects and which is often used to complement digital imagery.
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