5,646 Shares in Shutterstock (NYSE:SSTK) Purchased by We Are One Seven LLC

We Are One Seven LLC purchased a new position in shares of Shutterstock (NYSE:SSTK) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 5,646 shares of the business services provider’s stock, valued at approximately $243,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cubist Systematic Strategies LLC acquired a new position in shares of Shutterstock during the 3rd quarter worth $133,000. Municipal Employees Retirement System of Michigan increased its stake in shares of Shutterstock by 58.8% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 7,130 shares of the business services provider’s stock worth $237,000 after purchasing an additional 2,640 shares during the last quarter. Atria Investments LLC acquired a new position in shares of Shutterstock during the 4th quarter worth $243,000. First Republic Investment Management Inc. acquired a new position in shares of Shutterstock during the 4th quarter worth $249,000. Finally, Crossmark Global Holdings Inc. acquired a new position in shares of Shutterstock during the 3rd quarter worth $256,000. Institutional investors own 58.91% of the company’s stock.

Shares of NYSE SSTK traded up $0.20 during trading hours on Monday, hitting $50.66. 117,822 shares of the stock were exchanged, compared to its average volume of 287,811. The company has a market cap of $1,753.28, a P/E ratio of 71.35 and a beta of 1.15. Shutterstock has a one year low of $29.85 and a one year high of $52.78.

Shutterstock (NYSE:SSTK) last posted its quarterly earnings data on Thursday, February 22nd. The business services provider reported $0.22 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.01). The firm had revenue of $151.80 million for the quarter, compared to the consensus estimate of $143.66 million. Shutterstock had a return on equity of 8.43% and a net margin of 3.00%. Shutterstock’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.42 earnings per share. sell-side analysts anticipate that Shutterstock will post 0.78 earnings per share for the current fiscal year.

Several research analysts have recently commented on the stock. Zacks Investment Research lowered shares of Shutterstock from a “buy” rating to a “hold” rating in a research note on Friday, January 5th. ValuEngine lowered shares of Shutterstock from a “hold” rating to a “sell” rating in a research note on Sunday, December 31st. Deutsche Bank upped their price objective on shares of Shutterstock from $36.00 to $43.00 and gave the stock a “hold” rating in a report on Friday, February 23rd. Finally, SunTrust Banks upped their price objective on shares of Shutterstock to $47.00 and gave the stock a “hold” rating in a report on Friday, February 23rd. Two equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Shutterstock has an average rating of “Hold” and a consensus price target of $42.67.

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About Shutterstock

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.

Institutional Ownership by Quarter for Shutterstock (NYSE:SSTK)

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