UBS Asset Management Americas Inc. boosted its position in Shutterstock Inc. (NYSE:SSTK) by 14.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,671 shares of the company’s stock after buying an additional 1,200 shares during the period. UBS Asset Management Americas Inc.’s holdings in Shutterstock were worth $616,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Virginia Retirement Systems ET AL purchased a new stake in Shutterstock during the second quarter worth $256,000. Vanguard Group Inc. increased its stake in Shutterstock by 14.4% in the second quarter. Vanguard Group Inc. now owns 1,475,360 shares of the company’s stock worth $67,572,000 after buying an additional 185,887 shares during the last quarter. Principal Financial Group Inc. purchased a new stake in Shutterstock during the second quarter worth $6,306,000. Prudential Financial Inc. purchased a new stake in Shutterstock during the second quarter worth $1,484,000. Finally, Dimensional Fund Advisors LP increased its stake in Shutterstock by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 157,063 shares of the company’s stock worth $7,192,000 after buying an additional 1,190 shares during the last quarter. Institutional investors own 57.62% of the company’s stock.
Shutterstock Inc. (NYSE:SSTK) traded up 1.81% during midday trading on Friday, reaching $51.14. The company had a trading volume of 171,045 shares. Shutterstock Inc. has a 12-month low of $25.44 and a 12-month high of $65.16. The stock has a 50-day moving average price of $48.22 and a 200 day moving average price of $54.76. The company has a market capitalization of $1.80 billion, a PE ratio of 61.69 and a beta of 1.54.
Shutterstock (NYSE:SSTK) last issued its earnings results on Friday, November 4th. The company reported $0.40 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.08. The firm had revenue of $123.10 million for the quarter, compared to the consensus estimate of $127.58 million. Shutterstock had a return on equity of 12.78% and a net margin of 6.17%. The company’s revenue was up 14.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.28 EPS. Equities analysts forecast that Shutterstock Inc. will post $1.57 EPS for the current year.
A number of equities research analysts have recently weighed in on the company. Zacks Investment Research downgraded Shutterstock from a “hold” rating to a “sell” rating in a research report on Tuesday, October 11th. Jefferies Group restated a “hold” rating and set a $55.00 target price (down previously from $62.00) on shares of Shutterstock in a research report on Tuesday, November 8th. Raymond James Financial Inc. restated a “market perform” rating on shares of Shutterstock in a research report on Monday, November 7th. Citigroup Inc. downgraded Shutterstock from an “outperform” rating to a “market perform” rating in a research report on Monday, November 7th. Finally, RBC Capital Markets restated a “hold” rating and set a $60.00 target price on shares of Shutterstock in a research report on Friday, November 4th. Eight equities research analysts have rated the stock with a hold rating, The stock has a consensus rating of “Hold” and an average price target of $54.67.
Shutterstock, Inc (Shutterstock) is a global provider of creative content and commercial music. The Company’s creative 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.
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