Canada Pension Plan Investment Board grew its holdings in shares of Shutterstock Inc (NYSE:SSTK) by 87.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 302,335 shares of the business services provider’s stock after buying an additional 140,835 shares during the quarter. Canada Pension Plan Investment Board owned 0.86% of Shutterstock worth $16,501,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in SSTK. Cutler Group LP raised its position in shares of Shutterstock by 357.1% during the 2nd quarter. Cutler Group LP now owns 2,571 shares of the business services provider’s stock valued at $122,000 after acquiring an additional 3,571 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Shutterstock during the 2nd quarter valued at approximately $204,000. Piedmont Investment Advisors LLC acquired a new stake in shares of Shutterstock during the 2nd quarter valued at approximately $205,000. Stone Ridge Asset Management LLC acquired a new stake in shares of Shutterstock during the 3rd quarter valued at approximately $223,000. Finally, GAM Holding AG acquired a new stake in shares of Shutterstock during the 2nd quarter valued at approximately $232,000. Institutional investors own 53.47% of the company’s stock.
Shares of NYSE SSTK opened at $38.21 on Monday. Shutterstock Inc has a 1-year low of $36.20 and a 1-year high of $55.76. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of 53.82, a P/E/G ratio of 2.01 and a beta of 1.54.
Shutterstock (NYSE:SSTK) last issued its earnings results on Tuesday, October 30th. The business services provider reported $0.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.01. Shutterstock had a return on equity of 8.76% and a net margin of 6.82%. The firm had revenue of $151.60 million for the quarter, compared to analyst estimates of $157.88 million. During the same period last year, the company earned $0.31 earnings per share. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. Equities analysts anticipate that Shutterstock Inc will post 0.87 EPS for the current fiscal year.
Several equities research analysts recently issued reports on SSTK shares. ValuEngine raised Shutterstock from a “hold” rating to a “buy” rating in a research report on Tuesday, October 2nd. Deutsche Bank dropped their price target on Shutterstock from $50.00 to $35.00 and set a “hold” rating on the stock in a research report on Wednesday, October 31st. Finally, SunTrust Banks reaffirmed a “hold” rating and issued a $48.00 target price on shares of Shutterstock in a research report on Monday, October 29th. Two analysts have rated the stock with a sell rating and three have given a hold rating to the stock. Shutterstock currently has a consensus rating of “Hold” and a consensus price target of $42.33.
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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