Stifel Financial Corp lowered its stake in shares of Shutterstock, Inc. (NYSE:SSTK) by 79.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,915 shares of the business services provider’s stock after selling 31,240 shares during the quarter. Stifel Financial Corp’s holdings in Shutterstock were worth $349,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in SSTK. Thrivent Financial For Lutherans boosted its position in Shutterstock by 1.8% in the first quarter. Thrivent Financial For Lutherans now owns 10,600 shares of the business services provider’s stock worth $438,000 after purchasing an additional 190 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Shutterstock by 14.9% in the first quarter. Goldman Sachs Group Inc. now owns 188,682 shares of the business services provider’s stock worth $7,802,000 after purchasing an additional 24,421 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Shutterstock by 167.7% in the second quarter. Bank of New York Mellon Corp now owns 824,055 shares of the business services provider’s stock worth $36,323,000 after purchasing an additional 516,226 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Shutterstock by 10.3% in the first quarter. Dimensional Fund Advisors LP now owns 226,121 shares of the business services provider’s stock worth $9,350,000 after purchasing an additional 21,140 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new position in Shutterstock in the second quarter worth $284,000. Institutional investors and hedge funds own 61.83% of the company’s stock.
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Several research analysts have weighed in on SSTK shares. TheStreet cut Shutterstock from a “b-” rating to a “c” rating in a research report on Friday, July 7th. BidaskClub cut Shutterstock from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Deutsche Bank AG cut their price objective on Shutterstock from $41.00 to $33.00 and set a “hold” rating on the stock in a research report on Thursday, August 3rd. Zacks Investment Research cut Shutterstock from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. Finally, SunTrust Banks, Inc. started coverage on Shutterstock in a research report on Tuesday, August 15th. They issued a “hold” rating and a $36.00 price objective on the stock. Three analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Shutterstock has a consensus rating of “Hold” and a consensus price target of $38.60.
Shutterstock (NYSE:SSTK) last posted its earnings results on Tuesday, October 31st. The business services provider reported $0.31 EPS for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.01. The business had revenue of $141.10 million during the quarter, compared to analyst estimates of $133.24 million. Shutterstock had a return on equity of 9.71% and a net margin of 4.58%. The company’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.40 EPS.
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.
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