Geode Capital Management LLC increased its stake in Shutterstock, Inc. (NYSE:SSTK) by 9.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 149,611 shares of the business services provider’s stock after buying an additional 12,949 shares during the period. Geode Capital Management LLC owned 0.43% of Shutterstock worth $6,186,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of SSTK. Municipal Employees Retirement System of Michigan increased its stake in shares of Shutterstock by 2.6% in the first quarter. Municipal Employees Retirement System of Michigan now owns 4,410 shares of the business services provider’s stock worth $182,000 after buying an additional 110 shares during the period. Thrivent Financial For Lutherans boosted its position in shares of Shutterstock by 1.8% in the first quarter. Thrivent Financial For Lutherans now owns 10,600 shares of the business services provider’s stock worth $438,000 after buying an additional 190 shares during the period. Mason Street Advisors LLC boosted its position in shares of Shutterstock by 5.1% in the first quarter. Mason Street Advisors LLC now owns 4,438 shares of the business services provider’s stock worth $184,000 after buying an additional 216 shares during the period. Teachers Advisors LLC boosted its position in shares of Shutterstock by 1.6% in the fourth quarter. Teachers Advisors LLC now owns 32,069 shares of the business services provider’s stock worth $1,524,000 after buying an additional 513 shares during the period. Finally, Great West Life Assurance Co. Can boosted its position in shares of Shutterstock by 4.8% in the first quarter. Great West Life Assurance Co. Can now owns 26,434 shares of the business services provider’s stock worth $1,093,000 after buying an additional 1,218 shares during the period. Institutional investors and hedge funds own 61.99% of the company’s stock.
Shutterstock, Inc. (NYSE:SSTK) traded down 1.25% during midday trading on Friday, hitting $33.27. The stock had a trading volume of 149,631 shares. The company has a market cap of $1.15 billion, a PE ratio of 40.97 and a beta of 1.40. The firm has a 50-day moving average of $40.08 and a 200-day moving average of $43.88. Shutterstock, Inc. has a 12-month low of $32.50 and a 12-month high of $65.16.
Shutterstock (NYSE:SSTK) last released its quarterly earnings data on Wednesday, August 2nd. The business services provider reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by $0.12. Shutterstock had a net margin of 5.59% and a return on equity of 11.08%. The business had revenue of $134 million during the quarter, compared to analyst estimates of $137.83 million. During the same quarter in the prior year, the company posted $0.36 earnings per share. The company’s revenue was up 7.7% on a year-over-year basis. Equities research analysts forecast that Shutterstock, Inc. will post $1.17 EPS for the current year.
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Several equities analysts have recently issued reports on the company. Jefferies Group LLC reissued a “hold” rating and set a $50.00 target price on shares of Shutterstock in a research note on Friday, June 23rd. BidaskClub downgraded Shutterstock from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Zacks Investment Research raised Shutterstock from a “sell” rating to a “hold” rating in a report on Tuesday, May 2nd. TheStreet cut Shutterstock from a “b-” rating to a “c” rating in a research report on Friday, July 7th. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $50.00 price objective on shares of Shutterstock in a research report on Friday, April 21st. Two analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $42.40.
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.
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