Shutterstock (NYSE:SSTK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday, January 5th.
According to Zacks, “Shutterstock, Inc. is a global marketplace for digital imagery. It provides licensed photographs, vectors, illustrations and videos to businesses, marketing agencies and media organizations around the world. The Company’s online marketplace provides a freely searchable library of commercial digital images that the users can pay to license, download and incorporate into their work. Shutterstock, Inc. is headquartered in New York. “
Several other analysts also recently weighed in on the company. ValuEngine downgraded Shutterstock from a “hold” rating to a “sell” rating in a report on Sunday, December 31st. BidaskClub downgraded Shutterstock from a “sell” rating to a “strong sell” rating in a report on Tuesday, November 7th. Jefferies Group boosted their target price on Shutterstock from $30.00 to $34.00 and gave the company an “underperform” rating in a report on Wednesday, November 1st. Finally, Cantor Fitzgerald restated a “hold” rating and issued a $40.00 price target on shares of Shutterstock in a research report on Tuesday, October 31st. Three analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. Shutterstock has an average rating of “Hold” and an average price target of $39.17.
Shutterstock (SSTK) traded up $0.55 during mid-day trading on Friday, reaching $44.53. The company’s stock had a trading volume of 262,500 shares, compared to its average volume of 202,133. The firm has a market capitalization of $1,544.08, a PE ratio of 64.54 and a beta of 1.50. Shutterstock has a one year low of $29.85 and a one year high of $55.07.
Shutterstock (NYSE:SSTK) last posted its earnings results on Tuesday, October 31st. The business services provider reported $0.31 earnings per share (EPS) 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 company had revenue of $141.10 million during the quarter, compared to analysts’ expectations of $133.24 million. During the same quarter last year, the firm earned $0.40 earnings per share. The firm’s quarterly revenue was up 14.6% compared to the same quarter last year. research analysts anticipate that Shutterstock will post 0.69 EPS for the current fiscal year.
In other Shutterstock news, insider Jeffrey Kane Weiser sold 4,449 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $38.00, for a total transaction of $169,062.00. Following the transaction, the insider now owns 30,500 shares in the company, valued at approximately $1,159,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 47.30% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its stake in Shutterstock by 167.7% in 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 acquiring an additional 516,226 shares during the last quarter. Janus Henderson Group PLC bought a new position in shares of Shutterstock in the second quarter valued at about $20,224,000. Van Berkom & Associates Inc. raised its position in shares of Shutterstock by 24.1% in the third quarter. Van Berkom & Associates Inc. now owns 1,580,964 shares of the business services provider’s stock valued at $52,630,000 after purchasing an additional 307,357 shares during the period. Schroder Investment Management Group bought a new position in shares of Shutterstock in the third quarter valued at about $9,356,000. Finally, Jackson Square Partners LLC raised its position in shares of Shutterstock by 11.1% in the second quarter. Jackson Square Partners LLC now owns 2,493,419 shares of the business services provider’s stock valued at $109,909,000 after purchasing an additional 250,067 shares during the period. Institutional investors own 59.80% of the company’s stock.
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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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