State of Tennessee Treasury Department trimmed its position in Shutterstock (NYSE:SSTK) by 14.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 14,541 shares of the business services provider’s stock after selling 2,554 shares during the period. State of Tennessee Treasury Department’s holdings in Shutterstock were worth $626,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently made changes to their positions in SSTK. Van Berkom & Associates Inc. lifted its stake in shares of Shutterstock by 24.1% in the 3rd quarter. Van Berkom & Associates Inc. now owns 1,580,964 shares of the business services provider’s stock valued at $52,630,000 after acquiring an additional 307,357 shares during the last quarter. Schroder Investment Management Group bought a new position in Shutterstock during the 3rd quarter worth $9,356,000. BlackRock Inc. raised its position in Shutterstock by 6.2% during the 4th quarter. BlackRock Inc. now owns 2,373,497 shares of the business services provider’s stock worth $102,131,000 after purchasing an additional 137,849 shares during the last quarter. Rice Hall James & Associates LLC raised its position in Shutterstock by 10.0% during the 4th quarter. Rice Hall James & Associates LLC now owns 457,957 shares of the business services provider’s stock worth $19,706,000 after purchasing an additional 41,743 shares during the last quarter. Finally, Prudential Financial Inc. raised its position in Shutterstock by 66.8% during the 3rd quarter. Prudential Financial Inc. now owns 74,829 shares of the business services provider’s stock worth $2,491,000 after purchasing an additional 29,957 shares during the last quarter. Institutional investors own 58.91% of the company’s stock.
Shares of SSTK stock traded down $0.54 during mid-day trading on Friday, hitting $49.20. The company’s stock had a trading volume of 172,297 shares, compared to its average volume of 287,348. Shutterstock has a 52 week low of $29.85 and a 52 week high of $52.78. The firm has a market cap of $1,709.50, a PE ratio of 69.30 and a beta of 1.16.
Shutterstock (NYSE:SSTK) last posted its quarterly earnings data on Thursday, February 22nd. The business services provider reported $0.22 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.01). Shutterstock had a return on equity of 8.43% and a net margin of 3.00%. The business had revenue of $151.80 million during the quarter, compared to the consensus estimate of $143.66 million. During the same period last year, the business posted $0.42 earnings per share. The business’s revenue was up 16.6% on a year-over-year basis. equities analysts forecast that Shutterstock will post 0.78 earnings per share for the current year.
Several research analysts recently issued reports on the company. Zacks Investment Research lowered Shutterstock from a “buy” rating to a “hold” rating in a research report on Friday, January 5th. ValuEngine lowered Shutterstock from a “hold” rating to a “sell” rating in a research report on Sunday, December 31st. Deutsche Bank raised their target price on Shutterstock from $36.00 to $43.00 and gave the stock a “hold” rating in a research report on Friday, February 23rd. Finally, SunTrust Banks raised their target price on Shutterstock to $47.00 and gave the stock a “hold” rating in a research report on Friday, February 23rd. Two analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. The company currently has an average rating of “Hold” and an average target price of $42.67.
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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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