Virginia Retirement Systems ET AL purchased a new position in shares of Shutterstock Inc. (NYSE:SSTK) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,600 shares of the company’s stock, valued at approximately $256,000.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Samlyn Capital LLC boosted its position in Shutterstock by 109.1% in the first quarter. Samlyn Capital LLC now owns 598,120 shares of the company’s stock valued at $21,969,000 after buying an additional 312,120 shares in the last quarter. Acrospire Investment Management LLC purchased a new position in Shutterstock during the first quarter valued at approximately $103,000. State Board of Administration of Florida Retirement System boosted its position in Shutterstock by 2.8% in the second quarter. State Board of Administration of Florida Retirement System now owns 16,150 shares of the company’s stock valued at $740,000 after buying an additional 438 shares in the last quarter. Legal & General Group Plc boosted its position in Shutterstock by 3.5% in the first quarter. Legal & General Group Plc now owns 3,642 shares of the company’s stock valued at $134,000 after buying an additional 122 shares in the last quarter. Finally, Wesbanco Bank Inc. boosted its position in Shutterstock by 57.4% in the second quarter. Wesbanco Bank Inc. now owns 9,650 shares of the company’s stock valued at $442,000 after buying an additional 3,520 shares in the last quarter. Institutional investors and hedge funds own 64.02% of the company’s stock.
Shutterstock Inc. (NYSE:SSTK) opened at 63.91 on Tuesday. Shutterstock Inc. has a 12 month low of $25.44 and a 12 month high of $65.16. The stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of 95.53 and a beta of 1.67. The company has a 50-day moving average of $61.05 and a 200 day moving average of $49.64.
Shutterstock (NYSE:SSTK) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.05. Shutterstock had a net margin of 5.24% and a return on equity of 11.05%. The business had revenue of $124.40 million for the quarter, compared to the consensus estimate of $124.29 million. During the same period last year, the firm earned $0.31 earnings per share. The company’s quarterly revenue was up 19.2% on a year-over-year basis. On average, equities research analysts anticipate that Shutterstock Inc. will post $1.45 earnings per share for the current fiscal year.
Several equities analysts have commented on SSTK shares. Jefferies Group reissued a “hold” rating and set a $62.00 target price (up previously from $60.00) on shares of Shutterstock in a research report on Friday, September 16th. Cantor Fitzgerald reissued a “hold” rating and set a $60.00 target price on shares of Shutterstock in a research report on Tuesday, August 23rd. Zacks Investment Research cut shares of Shutterstock from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 5th. Finally, Deutsche Bank AG lifted their target price on shares of Shutterstock from $42.00 to $56.00 and gave the stock a “hold” rating in a research report on Tuesday, August 9th. Six research analysts have rated the stock with a hold rating, The stock currently has an average rating of “Hold” and an average price target of $55.00.
Shutterstock Company Profile
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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