Credit Agricole S A continued to hold its stake in shares of Shutterstock, Inc. (NYSE:SSTK) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,600 shares of the business services provider’s stock at the end of the first quarter. Credit Agricole S A’s holdings in Shutterstock were worth $356,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. Jennison Associates LLC purchased a new position in Shutterstock during the first quarter worth $19,555,000. Van Berkom & Associates Inc. boosted its position in Shutterstock by 20.8% in the first quarter. Van Berkom & Associates Inc. now owns 1,297,836 shares of the business services provider’s stock worth $53,666,000 after buying an additional 223,490 shares during the last quarter. Norges Bank purchased a new position in Shutterstock during the fourth quarter worth $8,916,000. Russell Investments Group Ltd. purchased a new position in Shutterstock during the first quarter worth $6,821,000. Finally, Sei Investments Co. boosted its position in Shutterstock by 67.0% in the first quarter. Sei Investments Co. now owns 324,772 shares of the business services provider’s stock worth $13,429,000 after buying an additional 130,299 shares during the last quarter. Hedge funds and other institutional investors own 60.40% of the company’s stock.
Shares of Shutterstock, Inc. (NYSE:SSTK) traded down 0.05% during trading on Friday, hitting $43.07. 157,499 shares of the stock traded hands. The company has a market cap of $1.49 billion, a PE ratio of 46.26 and a beta of 1.42. The firm has a 50 day moving average price of $44.16 and a 200-day moving average price of $45.58. Shutterstock, Inc. has a one year low of $39.66 and a one year high of $65.16.
Shutterstock (NYSE:SSTK) last posted its quarterly earnings data on Wednesday, May 3rd. The business services provider reported $0.21 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.21. Shutterstock had a net margin of 6.52% and a return on equity of 12.74%. The company had revenue of $130.20 million for the quarter, compared to the consensus estimate of $129.62 million. During the same quarter in the previous year, the firm posted $0.36 EPS. The business’s revenue was up 11.6% compared to the same quarter last year. Analysts anticipate that Shutterstock, Inc. will post $1.47 earnings per share for the current fiscal year.
SSTK has been the subject of a number of analyst reports. Zacks Investment Research raised shares of Shutterstock from a “sell” rating to a “hold” rating in a research report on Tuesday, May 2nd. Jefferies Group LLC reissued a “hold” rating and issued a $50.00 price objective on shares of Shutterstock in a research report on Monday, May 8th. Royal Bank Of Canada reissued a “hold” rating and issued a $50.00 price objective on shares of Shutterstock in a research report on Friday, April 21st. TheStreet cut shares of Shutterstock from a “b-” rating to a “c” rating in a research report on Friday, July 7th. Finally, BidaskClub cut shares of Shutterstock from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Nine analysts have rated the stock with a hold rating, Shutterstock presently has an average rating of “Hold” and a consensus price target of $49.75.
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.
Receive News & Ratings for Shutterstock Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shutterstock Inc. and related companies with MarketBeat.com's FREE daily email newsletter.