Shutterstock, Inc. (NYSE:SSTK) has earned a consensus rating of “Hold” from the nine research firms that are presently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $39.17.

Several equities analysts have recently weighed in on SSTK shares. Zacks Investment Research upgraded Shutterstock from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a report on Saturday, November 4th. SunTrust Banks started coverage on Shutterstock in a report on Tuesday, August 15th. They issued a “hold” rating and a $36.00 price objective for the company. Cantor Fitzgerald reiterated a “hold” rating and issued a $40.00 price objective on shares of Shutterstock in a report on Tuesday, October 31st. BidaskClub upgraded Shutterstock from a “strong sell” rating to a “sell” rating in a report on Saturday, October 28th. Finally, ValuEngine downgraded Shutterstock from a “hold” rating to a “sell” rating in a report on Friday, September 1st.

In other Shutterstock 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 value of $169,062.00. Following the transaction, the insider now directly owns 30,500 shares of the company’s stock, valued at $1,159,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 47.30% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the business. Victory Capital Management Inc. boosted its position in Shutterstock by 17.6% in the second quarter. Victory Capital Management Inc. now owns 2,660 shares of the business services provider’s stock worth $117,000 after purchasing an additional 398 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in Shutterstock in the third quarter worth about $133,000. Municipal Employees Retirement System of Michigan boosted its position in Shutterstock by 1.8% in the second quarter. Municipal Employees Retirement System of Michigan now owns 4,490 shares of the business services provider’s stock worth $198,000 after purchasing an additional 80 shares during the last quarter. Allen Investment Management LLC purchased a new position in Shutterstock in the second quarter worth about $242,000. Finally, BNP Paribas Arbitrage SA boosted its position in Shutterstock by 53.1% in the second quarter. BNP Paribas Arbitrage SA now owns 6,000 shares of the business services provider’s stock worth $264,000 after purchasing an additional 2,081 shares during the last quarter. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Shares of Shutterstock (SSTK) traded up $0.30 during trading hours on Thursday, hitting $41.14. The stock had a trading volume of 312,800 shares, compared to its average volume of 345,903. Shutterstock has a 1 year low of $29.85 and a 1 year high of $55.07. The company has a market capitalization of $1,416.13, a P/E ratio of 51.70 and a beta of 1.50.

Shutterstock (NYSE:SSTK) last issued its quarterly earnings results on Tuesday, October 31st. The business services provider reported $0.31 earnings per share for the quarter, beating 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 firm had revenue of $141.10 million during the quarter, compared to the consensus estimate of $133.24 million. During the same period last year, the company earned $0.40 earnings per share. The company’s revenue was up 14.6% on a year-over-year basis. sell-side analysts anticipate that Shutterstock will post 0.69 earnings per share 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.

Analyst Recommendations for Shutterstock (NYSE:SSTK)

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