Alliancebernstein L.P. Sells 46,510 Shares of Shutterstock, Inc. (NYSE:SSTK)

Alliancebernstein L.P. reduced its position in shares of Shutterstock, Inc. (NYSE:SSTK) by 65.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,200 shares of the business services provider’s stock after selling 46,510 shares during the period. Alliancebernstein L.P. owned 0.07% of Shutterstock worth $1,001,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SSTK. Blair William & Co. IL increased its position in Shutterstock by 22.2% in the first quarter. Blair William & Co. IL now owns 41,820 shares of the business services provider’s stock worth $1,824,000 after buying an additional 7,595 shares during the period. Stifel Financial Corp increased its position in Shutterstock by 21.5% in the first quarter. Stifel Financial Corp now owns 39,155 shares of the business services provider’s stock worth $1,621,000 after buying an additional 6,927 shares during the period. KBC Group NV increased its position in Shutterstock by 100.5% in the first quarter. KBC Group NV now owns 48,994 shares of the business services provider’s stock worth $2,026,000 after buying an additional 24,553 shares during the period. Nordea Investment Management AB increased its position in Shutterstock by 42.2% in the first quarter. Nordea Investment Management AB now owns 35,379 shares of the business services provider’s stock worth $1,463,000 after buying an additional 10,502 shares during the period. Finally, Mason Street Advisors LLC increased its position in Shutterstock by 5.1% in the first quarter. Mason Street Advisors LLC now owns 4,438 shares of the business services provider’s stock worth $184,000 after buying an additional 216 shares during the period. 61.99% of the stock is owned by institutional investors and hedge funds.

Shares of Shutterstock, Inc. (NYSE SSTK) opened at 33.27 on Friday. The firm has a 50-day moving average of $40.08 and a 200 day moving average of $43.88. Shutterstock, Inc. has a 52 week low of $32.50 and a 52 week high of $65.16. The firm has a market cap of $1.15 billion, a PE ratio of 40.97 and a beta of 1.40.

Shutterstock (NYSE:SSTK) last released its quarterly earnings data on Wednesday, August 2nd. The business services provider reported $0.24 EPS for the quarter, missing the consensus estimate of $0.36 by $0.12. The business had revenue of $134 million during the quarter, compared to the consensus estimate of $137.83 million. Shutterstock had a return on equity of 11.08% and a net margin of 5.59%. Shutterstock’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.36 earnings per share. Equities research analysts predict that Shutterstock, Inc. will post $1.17 EPS for the current fiscal year.

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SSTK has been the subject of a number of recent analyst reports. SunTrust Banks, Inc. initiated coverage on shares of Shutterstock in a research note on Tuesday. They issued a “hold” rating and a $36.00 price target for the company. Zacks Investment Research cut shares of Shutterstock from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. BidaskClub cut shares of Shutterstock from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 8th. Deutsche Bank AG cut their price target on shares of Shutterstock from $41.00 to $33.00 and set a “hold” rating for the company in a research note on Thursday, August 3rd. Finally, TheStreet cut shares of Shutterstock from a “b-” rating to a “c” rating in a research note on Friday, July 7th. Two research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $42.40.

About Shutterstock

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.

Institutional Ownership by Quarter for Shutterstock (NYSE:SSTK)

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