Shutterstock (NYSE:SSTK) Trading Down 8.7%

Shutterstock Inc (NYSE:SSTK)’s share price fell 8.7% on Tuesday . The stock traded as low as $34.13 and last traded at $34.37, 788,274 shares traded hands during trading. An increase of 286% from the average session volume of 204,139 shares. The stock had previously closed at $37.63.

Several research firms have weighed in on SSTK. ValuEngine downgraded Shutterstock from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Zacks Investment Research raised Shutterstock from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Finally, SunTrust Banks reissued a “hold” rating and set a $44.00 price target on shares of Shutterstock in a research report on Monday.

The stock has a 50-day simple moving average of $38.85. The company has a market capitalization of $1.35 billion, a P/E ratio of 32.73, a PEG ratio of 1.65 and a beta of 1.11.

Shutterstock (NYSE:SSTK) last released its quarterly earnings results on Tuesday, August 6th. The business services provider reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.02. The company had revenue of $161.74 million during the quarter, compared to the consensus estimate of $171.93 million. Shutterstock had a return on equity of 12.99% and a net margin of 4.68%. Shutterstock’s revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.30 earnings per share. Research analysts predict that Shutterstock Inc will post 0.93 earnings per share for the current year.

In other news, Director Deirdre Mary Bigley sold 1,592 shares of Shutterstock stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $39.41, for a total value of $62,740.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 46.80% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the company. Norges Bank acquired a new position in Shutterstock in the fourth quarter valued at $15,654,000. Dimensional Fund Advisors LP boosted its holdings in Shutterstock by 31.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 719,341 shares of the business services provider’s stock valued at $25,903,000 after acquiring an additional 172,859 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in Shutterstock by 7.5% in the first quarter. Clearbridge Investments LLC now owns 1,159,728 shares of the business services provider’s stock valued at $54,078,000 after acquiring an additional 80,587 shares during the last quarter. Millennium Management LLC boosted its holdings in Shutterstock by 38.5% in the fourth quarter. Millennium Management LLC now owns 251,260 shares of the business services provider’s stock valued at $9,048,000 after acquiring an additional 69,840 shares during the last quarter. Finally, Rice Hall James & Associates LLC boosted its holdings in Shutterstock by 6.4% in the first quarter. Rice Hall James & Associates LLC now owns 761,090 shares of the business services provider’s stock valued at $35,490,000 after acquiring an additional 45,803 shares during the last quarter. 57.39% of the stock is owned by institutional investors and hedge funds.

Shutterstock Company Profile (NYSE:SSTK)

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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