First Trust Advisors LP lifted its holdings in Shutterstock Inc (NYSE:SSTK) by 445.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 71,562 shares of the business services provider’s stock after buying an additional 58,448 shares during the quarter. First Trust Advisors LP owned about 0.20% of Shutterstock worth $2,577,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Shutterstock by 56.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,324 shares of the business services provider’s stock valued at $48,000 after buying an additional 476 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in Shutterstock in the third quarter worth about $170,000. Quantamental Technologies LLC acquired a new stake in Shutterstock in the fourth quarter worth about $173,000. Stone Ridge Asset Management LLC acquired a new stake in Shutterstock in the third quarter worth about $223,000. Finally, Rafferty Asset Management LLC acquired a new stake in Shutterstock in the third quarter worth about $240,000. 55.37% of the stock is owned by institutional investors and hedge funds.
Shares of SSTK stock opened at $46.19 on Friday. The stock has a market capitalization of $1.62 billion, a P/E ratio of 43.99, a PEG ratio of 1.78 and a beta of 1.30. Shutterstock Inc has a 12 month low of $31.77 and a 12 month high of $55.76.
Shutterstock (NYSE:SSTK) last announced its quarterly earnings data on Tuesday, February 26th. The business services provider reported $0.59 EPS for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.11. The firm had revenue of $162.10 million during the quarter, compared to analyst estimates of $165.46 million. Shutterstock had a return on equity of 11.55% and a net margin of 8.77%. The company’s revenue was up 6.8% on a year-over-year basis. During the same period last year, the company earned $0.30 earnings per share. Analysts anticipate that Shutterstock Inc will post 1.11 EPS for the current year.
Separately, Zacks Investment Research lowered Shutterstock from a “hold” rating to a “sell” rating in a research report on Saturday, March 2nd. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $42.33.
In related news, insider Martin Brodbeck sold 5,112 shares of Shutterstock stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $42.00, for a total value of $214,704.00. Following the completion of the sale, the insider now directly owns 50,217 shares in the company, valued at $2,109,114. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 47.20% of the stock is owned by company insiders.
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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