Bank of New York Mellon Corp decreased its position in Shutterstock Inc (NYSE:SSTK) by 1.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 304,280 shares of the business services provider’s stock after selling 4,465 shares during the quarter. Bank of New York Mellon Corp owned 0.87% of Shutterstock worth $10,958,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Shutterstock by 2.6% in the 3rd quarter. Vanguard Group Inc. now owns 1,828,893 shares of the business services provider’s stock valued at $99,821,000 after acquiring an additional 46,240 shares during the last quarter. Nordea Investment Management AB lifted its stake in Shutterstock by 34.1% during the third quarter. Nordea Investment Management AB now owns 89,787 shares of the business services provider’s stock worth $4,901,000 after purchasing an additional 22,816 shares during the last quarter. Quantamental Technologies LLC purchased a new stake in Shutterstock during the fourth quarter worth approximately $173,000. Morgan Stanley boosted its holdings in Shutterstock by 48.1% in the third quarter. Morgan Stanley now owns 509,252 shares of the business services provider’s stock valued at $27,794,000 after purchasing an additional 165,427 shares in the last quarter. Finally, Point72 Hong Kong Ltd acquired a new position in Shutterstock in the third quarter valued at approximately $170,000. 56.55% of the stock is currently owned by hedge funds and other institutional investors.
Separately, Zacks Investment Research lowered shares of Shutterstock from a “hold” rating to a “sell” rating in a research note on Saturday, March 2nd. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the stock. Shutterstock presently has a consensus rating of “Hold” and a consensus target price of $42.33.
Shares of NYSE:SSTK opened at $47.46 on Friday. Shutterstock Inc has a 12 month low of $31.77 and a 12 month high of $55.76. The firm has a market cap of $1.66 billion, a P/E ratio of 45.20, a P/E/G ratio of 1.83 and a beta of 1.30.
Shutterstock (NYSE:SSTK) last released its quarterly earnings data on Tuesday, February 26th. The business services provider reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.11. Shutterstock had a net margin of 8.77% and a return on equity of 11.55%. The company had revenue of $162.10 million during the quarter, compared to the consensus estimate of $165.46 million. During the same quarter in the prior year, the firm posted $0.30 earnings per share. Shutterstock’s revenue for the quarter was up 6.8% on a year-over-year basis. Analysts predict that Shutterstock Inc will post 1.08 earnings per share for the current fiscal year.
In other news, insider Martin Brodbeck sold 5,677 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $46.48, for a total value of $263,866.96. Following the completion of the sale, the insider now directly owns 41,619 shares of the company’s stock, valued at approximately $1,934,451.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 47.20% of the stock is currently owned by insiders.
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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.
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