Van Berkom & Associates Inc. lowered its holdings in shares of Shutterstock (NYSE:SSTK) by 9.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,319,544 shares of the business services provider’s stock after selling 134,805 shares during the quarter. Van Berkom & Associates Inc.’s holdings in Shutterstock were worth $63,536,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Schwab Charles Investment Management Inc. boosted its holdings in Shutterstock by 18.8% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 91,718 shares of the business services provider’s stock valued at $3,947,000 after acquiring an additional 14,544 shares during the period. Landscape Capital Management L.L.C. lifted its holdings in shares of Shutterstock by 213.2% in the 4th quarter. Landscape Capital Management L.L.C. now owns 61,735 shares of the business services provider’s stock worth $2,656,000 after buying an additional 42,027 shares during the period. Kornitzer Capital Management Inc. KS purchased a new stake in shares of Shutterstock in the 4th quarter worth $1,033,000. BlackRock Inc. lifted its holdings in shares of Shutterstock by 6.2% in the 4th quarter. BlackRock Inc. now owns 2,373,497 shares of the business services provider’s stock worth $102,131,000 after buying an additional 137,849 shares during the period. Finally, Schroder Investment Management Group lifted its holdings in shares of Shutterstock by 98.6% in the 4th quarter. Schroder Investment Management Group now owns 556,747 shares of the business services provider’s stock worth $23,956,000 after buying an additional 276,377 shares during the period. Institutional investors own 58.86% of the company’s stock.
Shares of SSTK stock opened at $44.85 on Monday. Shutterstock has a twelve month low of $44.85 and a twelve month high of $44.85. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of 63.70 and a beta of 1.19.
Shutterstock (NYSE:SSTK) last issued its earnings results on Thursday, April 26th. The business services provider reported $0.30 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.04). The firm had revenue of $153.00 million during the quarter, compared to analysts’ expectations of $150.14 million. Shutterstock had a return on equity of 7.59% and a net margin of 7.36%. Shutterstock’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.19 earnings per share. sell-side analysts predict that Shutterstock will post 0.81 earnings per share for the current fiscal year.
SSTK has been the subject of several research reports. Zacks Investment Research upgraded Shutterstock from a “sell” rating to a “hold” rating in a report on Saturday, March 24th. ValuEngine upgraded Shutterstock from a “sell” rating to a “hold” rating in a report on Tuesday, February 27th. SunTrust Banks upped their target price on Shutterstock to $47.00 and gave the stock a “hold” rating in a report on Friday, February 23rd. Finally, Deutsche Bank upped their target price on Shutterstock from $36.00 to $43.00 and gave the stock a “hold” rating in a report on Friday, February 23rd. Three investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $41.20.
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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