Metropolitan Life Insurance Co. NY lowered its position in shares of Shutterstock (NYSE:SSTK) by 51.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,476 shares of the business services provider’s stock after selling 6,915 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Shutterstock were worth $279,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Cubist Systematic Strategies LLC purchased a new position in shares of Shutterstock during the third quarter valued at $133,000. Atria Investments LLC purchased a new position in shares of Shutterstock during the fourth quarter valued at $243,000. First Republic Investment Management Inc. purchased a new position in shares of Shutterstock during the fourth quarter valued at $249,000. Teacher Retirement System of Texas purchased a new position in shares of Shutterstock during the fourth quarter valued at $285,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Shutterstock by 6,841.3% during the third quarter. JPMorgan Chase & Co. now owns 21,518 shares of the business services provider’s stock valued at $719,000 after buying an additional 21,208 shares during the period. Hedge funds and other institutional investors own 58.91% of the company’s stock.
SSTK opened at $51.23 on Friday. Shutterstock has a 1 year low of $29.85 and a 1 year high of $52.78. The stock has a market capitalization of $1,801.57, a price-to-earnings ratio of 72.15 and a beta of 1.16.
Shutterstock (NYSE:SSTK) last posted its earnings results on Thursday, February 22nd. The business services provider reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.01). Shutterstock had a net margin of 3.00% and a return on equity of 8.43%. The company had revenue of $151.80 million during the quarter, compared to analysts’ expectations of $143.66 million. During the same quarter last year, the firm earned $0.42 EPS. Shutterstock’s revenue for the quarter was up 16.6% on a year-over-year basis. equities research analysts expect that Shutterstock will post 0.78 EPS for the current fiscal year.
Several equities analysts have recently commented on the company. Zacks Investment Research upgraded Shutterstock from a “sell” rating to a “hold” rating in a research note on Saturday, March 24th. ValuEngine upgraded Shutterstock from a “sell” rating to a “hold” rating in a research note on Tuesday, February 27th. Deutsche Bank lifted their target price on Shutterstock from $36.00 to $43.00 and gave the company a “hold” rating in a research note on Friday, February 23rd. Finally, SunTrust Banks lifted their target price on Shutterstock to $47.00 and gave the company a “hold” rating in a research note on Friday, February 23rd. Two investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $41.20.
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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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