Algert Global LLC grew its stake in Shutterstock Inc (NYSE:SSTK) by 33.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,968 shares of the business services provider’s stock after purchasing an additional 5,465 shares during the quarter. Algert Global LLC owned approximately 0.06% of Shutterstock worth $1,199,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of SSTK. Renaissance Technologies LLC lifted its holdings in Shutterstock by 107.8% during the second quarter. Renaissance Technologies LLC now owns 462,500 shares of the business services provider’s stock worth $21,950,000 after acquiring an additional 239,900 shares during the period. BlackRock Inc. lifted its holdings in Shutterstock by 7.1% during the second quarter. BlackRock Inc. now owns 2,608,178 shares of the business services provider’s stock worth $123,784,000 after acquiring an additional 172,011 shares during the period. Canada Pension Plan Investment Board lifted its holdings in Shutterstock by 1,142.3% during the second quarter. Canada Pension Plan Investment Board now owns 161,500 shares of the business services provider’s stock worth $7,665,000 after acquiring an additional 148,500 shares during the period. Bernzott Capital Advisors lifted its holdings in Shutterstock by 8.4% during the second quarter. Bernzott Capital Advisors now owns 725,455 shares of the business services provider’s stock worth $34,430,000 after acquiring an additional 56,350 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Shutterstock by 11.1% during the second quarter. Dimensional Fund Advisors LP now owns 531,272 shares of the business services provider’s stock worth $25,215,000 after acquiring an additional 52,896 shares during the period. Institutional investors and hedge funds own 55.73% of the company’s stock.
Shares of Shutterstock stock opened at $37.56 on Friday. The firm has a market cap of $1.33 billion, a P/E ratio of 52.52, a price-to-earnings-growth ratio of 2.00 and a beta of 1.52. Shutterstock Inc has a 12 month low of $36.20 and a 12 month high of $55.76.
Shutterstock (NYSE:SSTK) last issued its quarterly earnings results on Tuesday, October 30th. The business services provider reported $0.38 EPS for the quarter, topping the Zacks’ 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 business 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 posted $0.31 earnings per share. Shutterstock’s quarterly revenue was up 7.4% compared to the same quarter last year. On average, analysts anticipate that Shutterstock Inc will post 0.87 EPS for the current fiscal year.
A number of analysts recently commented on SSTK shares. SunTrust Banks reiterated a “hold” rating and set a $48.00 price target on shares of Shutterstock in a report on Monday, October 29th. ValuEngine upgraded Shutterstock from a “hold” rating to a “buy” rating in a report on Tuesday, October 2nd. Finally, Deutsche Bank dropped their price target on Shutterstock from $50.00 to $35.00 and set a “hold” rating on the stock in a report on Wednesday, October 31st. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. The stock 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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