Sei Investments Co. lifted its position in Shutterstock, Inc. (NYSE:SSTK) by 3.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 412,742 shares of the business services provider’s stock after acquiring an additional 11,997 shares during the quarter. Sei Investments Co. owned approximately 1.19% of Shutterstock worth $13,740,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jackson Square Partners LLC grew its stake in shares of 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 acquiring an additional 250,067 shares in the last quarter. BlackRock Inc. grew its position in Shutterstock by 140,371.5% during the first quarter. BlackRock Inc. now owns 2,286,876 shares of the business services provider’s stock valued at $94,562,000 after buying an additional 2,285,248 shares during the period. Vanguard Group Inc. grew its position in Shutterstock by 0.3% during the second quarter. Vanguard Group Inc. now owns 1,674,695 shares of the business services provider’s stock valued at $73,821,000 after buying an additional 5,258 shares during the period. Bank of New York Mellon Corp grew its position in Shutterstock by 167.7% during the second quarter. Bank of New York Mellon Corp now owns 824,055 shares of the business services provider’s stock valued at $36,323,000 after buying an additional 516,226 shares during the period. Finally, Janus Henderson Group PLC bought a new position in Shutterstock during the second quarter valued at about $20,224,000. Hedge funds and other institutional investors own 59.78% of the company’s stock.
In other Shutterstock news, insider Jeffrey Kane Weiser sold 4,449 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 30,500 shares in the company, valued at $1,159,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 47.30% of the stock is owned by company insiders.
Several research firms recently weighed in on SSTK. BidaskClub lowered shares of Shutterstock from a “sell” rating to a “strong sell” rating in a research report on Tuesday, November 7th. Zacks Investment Research raised shares of Shutterstock from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a report on Saturday, November 4th. Jefferies Group LLC upped their price objective on shares of Shutterstock from $30.00 to $34.00 and gave the company an “underperform” rating in a report on Wednesday, November 1st. Cantor Fitzgerald reaffirmed a “hold” rating and set a $40.00 price objective on shares of Shutterstock in a report on Tuesday, October 31st. Finally, ValuEngine downgraded shares of Shutterstock from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. Shutterstock presently has a consensus rating of “Hold” and an average target price of $39.17.
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Shares of Shutterstock, Inc. (NYSE:SSTK) opened at $40.15 on Friday. The firm has a market cap of $1,317.65, a P/E ratio of 48.10 and a beta of 1.47. Shutterstock, Inc. has a one year low of $29.85 and a one year high of $55.07.
Shutterstock (NYSE:SSTK) last announced its earnings results on Tuesday, October 31st. The business services provider reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01. Shutterstock had a net margin of 4.58% and a return on equity of 9.71%. The business had revenue of $141.10 million for the quarter, compared to the consensus estimate of $133.24 million. During the same period last year, the firm posted $0.40 earnings per share. Shutterstock’s quarterly revenue was up 14.6% on a year-over-year basis. analysts predict that Shutterstock, Inc. will post 0.69 EPS for the current fiscal year.
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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