Teacher Retirement System of Texas decreased its holdings in shares of Shutterstock Inc (NYSE:SSTK) by 36.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,205 shares of the business services provider’s stock after selling 2,424 shares during the quarter. Teacher Retirement System of Texas’ holdings in Shutterstock were worth $202,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Rhumbline Advisers raised its stake in shares of Shutterstock by 3.3% in the first quarter. Rhumbline Advisers now owns 42,941 shares of the business services provider’s stock valued at $2,068,000 after acquiring an additional 1,386 shares during the period. Swiss National Bank raised its stake in shares of Shutterstock by 4.7% in the first quarter. Swiss National Bank now owns 33,200 shares of the business services provider’s stock valued at $1,599,000 after acquiring an additional 1,500 shares during the period. Comerica Bank raised its stake in shares of Shutterstock by 14.0% in the first quarter. Comerica Bank now owns 21,608 shares of the business services provider’s stock valued at $1,120,000 after acquiring an additional 2,652 shares during the period. Two Sigma Advisers LP raised its stake in shares of Shutterstock by 13.3% in the fourth quarter. Two Sigma Advisers LP now owns 39,200 shares of the business services provider’s stock valued at $1,687,000 after acquiring an additional 4,600 shares during the period. Finally, We Are One Seven LLC purchased a new stake in shares of Shutterstock in the fourth quarter valued at $243,000. 56.11% of the stock is currently owned by institutional investors.
NYSE SSTK opened at $48.10 on Wednesday. The stock has a market capitalization of $1.65 billion, a PE ratio of 67.75 and a beta of 1.19. Shutterstock Inc has a 12 month low of $29.85 and a 12 month high of $52.78.
Shutterstock (NYSE:SSTK) last posted its quarterly earnings results on Thursday, April 26th. The business services provider reported $0.30 EPS for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.04). The company had revenue of $153.00 million during the quarter, compared to the consensus estimate of $150.14 million. Shutterstock had a return on equity of 7.59% and a net margin of 7.36%. The company’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.19 earnings per share. research analysts predict that Shutterstock Inc will post 0.81 EPS for the current year.
Several equities research analysts have recently weighed in on SSTK shares. Zacks Investment Research raised shares of Shutterstock from a “sell” rating to a “hold” rating in a research note on Saturday, March 24th. ValuEngine raised shares of Shutterstock from a “sell” rating to a “hold” rating in a research note on Tuesday, February 27th. Three research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $41.20.
Shutterstock Company Profile
Shutterstock, Inc provides content products and services in North America, Europe, and internationally. It offers digital imagery services, which include 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 services comprising music tracks and sound effects that are used to complement digital imagery.
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