Macquarie Group Ltd. lowered its holdings in Shutterstock Inc (NYSE:SSTK) by 30.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 900 shares of the business services provider’s stock after selling 400 shares during the quarter. Macquarie Group Ltd.’s holdings in Shutterstock were worth $32,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Thrivent Financial for Lutherans grew its position in Shutterstock by 2.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 13,224 shares of the business services provider’s stock valued at $476,000 after purchasing an additional 290 shares during the period. Bronfman E.L. Rothschild L.P. grew its position in Shutterstock by 56.6% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 855 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 309 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Shutterstock by 56.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,324 shares of the business services provider’s stock valued at $48,000 after purchasing an additional 476 shares during the period. Texas Permanent School Fund grew its position in Shutterstock by 4.2% in the 4th quarter. Texas Permanent School Fund now owns 12,152 shares of the business services provider’s stock valued at $438,000 after purchasing an additional 492 shares during the period. Finally, We Are One Seven LLC grew its position in Shutterstock by 14.0% in the 4th quarter. We Are One Seven LLC now owns 7,277 shares of the business services provider’s stock valued at $262,000 after purchasing an additional 896 shares during the period. 56.55% of the stock is owned by institutional investors and hedge funds.
Separately, Zacks Investment Research raised shares of Shutterstock from a “sell” rating to a “hold” rating in a report on Friday, April 5th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The stock has a consensus rating of “Hold” and an average price target of $42.33.
In other Shutterstock news, insider Martin Brodbeck sold 5,677 shares of Shutterstock stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $46.48, for a total transaction of $263,866.96. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 47.20% of the stock is owned by insiders.
SSTK opened at $46.23 on Friday. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of 44.03, a PEG ratio of 1.83 and a beta of 1.30. Shutterstock Inc has a 1 year low of $31.77 and a 1 year high of $55.76.
Shutterstock (NYSE:SSTK) last posted its quarterly earnings data on Tuesday, February 26th. The business services provider reported $0.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.16. The firm had revenue of $162.10 million for the quarter, compared to the consensus estimate of $165.46 million. Shutterstock had a net margin of 8.77% and a return on equity of 11.55%. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.30 EPS. As a group, sell-side analysts anticipate that Shutterstock Inc will post 1.08 earnings per share for the current fiscal year.
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Shutterstock, Inc provides digital content, and tools and services in North America, Europe, and internationally. It offers digital imagery services that include licensed photographs, vectors, illustrations, and video clips, which is used in visual communications, such as Websites, digital and print marketing materials, corporate communications, books, publications, and video content; and music services comprising music tracks and sound effects that are used to complement digital imagery.
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