Russell Investments Group Ltd. Has $4.96 Million Stake in Shutterstock, Inc. (SSTK)

Russell Investments Group Ltd. lowered its stake in shares of Shutterstock, Inc. (NYSE:SSTK) by 52.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 148,935 shares of the business services provider’s stock after selling 164,295 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.43% of Shutterstock worth $4,958,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in SSTK. Victory Capital Management Inc. grew its position in shares of Shutterstock by 17.6% during the second quarter. Victory Capital Management Inc. now owns 2,660 shares of the business services provider’s stock worth $117,000 after buying an additional 398 shares in the last quarter. Municipal Employees Retirement System of Michigan grew its position in shares of Shutterstock by 1.8% during the second quarter. Municipal Employees Retirement System of Michigan now owns 4,490 shares of the business services provider’s stock worth $198,000 after buying an additional 80 shares in the last quarter. Stoneridge Investment Partners LLC acquired a new stake in shares of Shutterstock during the third quarter worth approximately $233,000. Allen Investment Management LLC acquired a new stake in shares of Shutterstock during the second quarter worth approximately $242,000. Finally, Crossmark Global Holdings Inc. acquired a new stake in shares of Shutterstock during the third quarter worth approximately $256,000. 59.95% of the stock is owned by institutional investors and hedge funds.

In other news, insider Jeffrey Kane Weiser sold 4,449 shares of the business’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $38.00, for a total transaction of $169,062.00. Following the completion of the transaction, the insider now owns 30,500 shares of the company’s stock, valued at $1,159,000. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 47.30% of the company’s stock.

A number of research firms have recently weighed in on SSTK. Jefferies Group raised their price target on shares of Shutterstock from $30.00 to $34.00 and gave the stock an “underperform” rating in a research report on Wednesday, November 1st. BidaskClub downgraded shares of Shutterstock from a “sell” rating to a “strong sell” rating in a report on Tuesday, November 7th. Zacks Investment Research raised shares of Shutterstock from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a report on Saturday, November 4th. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $40.00 price objective on shares of Shutterstock in a report on Tuesday, October 31st. Finally, SunTrust Banks initiated coverage on shares of Shutterstock in a report on Tuesday, August 15th. They issued a “hold” rating and a $36.00 price objective for the company. Three analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $39.17.

Shares of Shutterstock, Inc. (SSTK) traded down $0.73 on Wednesday, hitting $42.41. 131,800 shares of the stock traded hands, compared to its average volume of 344,320. Shutterstock, Inc. has a 52 week low of $29.85 and a 52 week high of $55.07. The firm has a market capitalization of $1,495.88, a P/E ratio of 54.61 and a beta of 1.50.

Shutterstock (NYSE:SSTK) last announced its quarterly earnings results on Tuesday, October 31st. The business services provider reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.01. Shutterstock had a net margin of 4.58% and a return on equity of 9.71%. The company had revenue of $141.10 million during the quarter, compared to the consensus estimate of $133.24 million. During the same quarter in the previous year, the company posted $0.40 earnings per share. The company’s revenue for the quarter was up 14.6% compared to the same quarter last year. equities analysts forecast that Shutterstock, Inc. will post 0.69 earnings per share for the current fiscal year.

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Shutterstock 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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Institutional Ownership by Quarter for Shutterstock (NYSE:SSTK)

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