BidaskClub cut shares of Shutterstock, Inc. (NYSE:SSTK) from a sell rating to a strong sell rating in a report issued on Tuesday.
Several other equities analysts have also issued reports on SSTK. Deutsche Bank AG lowered their price target on Shutterstock from $41.00 to $33.00 and set a hold rating for the company in a research report on Thursday, August 3rd. Zacks Investment Research downgraded Shutterstock from a hold rating to a sell rating in a report on Wednesday, August 9th. SunTrust Banks, Inc. initiated coverage on Shutterstock in a report on Tuesday, August 15th. They issued a hold rating and a $36.00 price objective for the company. Jefferies Group LLC downgraded Shutterstock from a hold rating to an underperform rating and reduced their price objective for the stock from $50.00 to $30.00 in a report on Thursday, August 24th. Finally, ValuEngine downgraded Shutterstock from a hold rating to a sell rating in a report on Friday, September 1st. Three analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $39.17.
Shutterstock (SSTK) traded up $1.30 on Tuesday, hitting $39.71. The stock had a trading volume of 566,278 shares, compared to its average volume of 356,735. The stock has a market cap of $1,420.00, a price-to-earnings ratio of 48.63 and a beta of 1.47. Shutterstock has a 12-month low of $29.85 and a 12-month high of $55.07.
Shutterstock (NYSE:SSTK) last posted its quarterly earnings results on Tuesday, October 31st. The business services provider reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.01. The firm had revenue of $141.10 million during the quarter, compared to analyst estimates of $133.24 million. Shutterstock had a return on equity of 9.71% and a net margin of 4.58%. Shutterstock’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.40 EPS. sell-side analysts anticipate that Shutterstock will post 0.69 EPS for the current fiscal year.
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In related news, insider Jeffrey Kane Weiser sold 4,449 shares of Shutterstock 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 completion of the sale, the insider now directly owns 30,500 shares in the company, valued at approximately $1,159,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 47.30% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the business. Jackson Square Partners LLC grew its stake in shares of Shutterstock by 11.1% during the 2nd quarter. Jackson Square Partners LLC now owns 2,493,419 shares of the business services provider’s stock valued at $109,909,000 after purchasing an additional 250,067 shares during the period. BlackRock Inc. grew its stake in shares of Shutterstock by 140,371.5% during the 1st quarter. BlackRock Inc. now owns 2,286,876 shares of the business services provider’s stock valued at $94,562,000 after purchasing an additional 2,285,248 shares during the period. Vanguard Group Inc. grew its stake in shares of Shutterstock by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 1,674,695 shares of the business services provider’s stock valued at $73,821,000 after purchasing an additional 5,258 shares during the period. Van Berkom & Associates Inc. grew its stake in shares of Shutterstock by 24.1% during the 3rd quarter. Van Berkom & Associates Inc. now owns 1,580,964 shares of the business services provider’s stock valued at $52,630,000 after purchasing an additional 307,357 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Shutterstock by 167.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 824,055 shares of the business services provider’s stock valued at $36,323,000 after purchasing an additional 516,226 shares during the period. Institutional investors and hedge funds own 61.75% of the company’s stock.
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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