Shutterstock, Inc. (NYSE:SSTK) has been given an average rating of “Hold” by the nine brokerages that are currently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $39.17.
Several brokerages recently weighed in on SSTK. Cantor Fitzgerald restated a “hold” rating and set a $40.00 price objective on shares of Shutterstock in a research report on Tuesday, October 31st. Zacks Investment Research upgraded Shutterstock from a “sell” rating to a “hold” rating in a research report on Wednesday, September 6th. SunTrust Banks began coverage on Shutterstock in a research report on Tuesday, August 15th. They set a “hold” rating and a $36.00 price objective for the company. BidaskClub downgraded Shutterstock from a “sell” rating to a “strong sell” rating in a research report on Tuesday, November 7th. Finally, Jefferies Group downgraded Shutterstock from a “hold” rating to an “underperform” rating and dropped their price objective for the stock from $50.00 to $30.00 in a research report on Thursday, August 24th.
In other news, insider Jeffrey Kane Weiser sold 4,449 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $38.00, for a total transaction of $169,062.00. Following the completion of the transaction, the insider now directly owns 30,500 shares in the company, valued at $1,159,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 47.30% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp grew its stake 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 worth $36,323,000 after purchasing an additional 516,226 shares during the period. Vanguard Group Inc. grew its stake 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 worth $73,821,000 after purchasing an additional 5,258 shares during the period. Dimensional Fund Advisors LP grew its stake in Shutterstock by 10.3% during the first quarter. Dimensional Fund Advisors LP now owns 226,121 shares of the business services provider’s stock worth $9,350,000 after purchasing an additional 21,140 shares during the period. Nordea Investment Management AB grew its stake in Shutterstock by 16.7% during the second quarter. Nordea Investment Management AB now owns 41,280 shares of the business services provider’s stock worth $1,820,000 after purchasing an additional 5,901 shares during the period. Finally, State Street Corp grew its stake in Shutterstock by 4.5% during the second quarter. State Street Corp now owns 452,917 shares of the business services provider’s stock worth $19,963,000 after purchasing an additional 19,410 shares during the period. Institutional investors own 59.95% of the company’s stock.
Shutterstock (NYSE SSTK) traded down $0.04 on Thursday, hitting $43.12. The stock had a trading volume of 260,092 shares, compared to its average volume of 296,173. Shutterstock has a 12 month low of $29.85 and a 12 month high of $55.07. The firm has a market cap of $1,495.19, a price-to-earnings ratio of 54.58 and a beta of 1.50.
Shutterstock (NYSE:SSTK) last announced its quarterly earnings data on Tuesday, October 31st. The business services provider reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.01. Shutterstock had a return on equity of 9.71% and a net margin of 4.58%. The business had revenue of $141.10 million during the quarter, compared to the consensus estimate of $133.24 million. During the same period in the prior year, the company earned $0.40 EPS. Shutterstock’s revenue for the quarter was up 14.6% on a year-over-year basis. sell-side analysts forecast that Shutterstock will post 0.69 EPS for the current fiscal year.
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Shutterstock Company Profile
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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