Shutterstock (SSTK) Downgraded by ValuEngine

Shutterstock (NYSE:SSTK) was downgraded by research analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Sunday.

SSTK has been the subject of a number of other research reports. BidaskClub raised Shutterstock from a “strong sell” rating to a “sell” rating in a research report on Saturday, October 28th. Zacks Investment Research raised Shutterstock from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a research report on Saturday, November 4th. Jefferies Group raised their price objective on Shutterstock from $30.00 to $34.00 and gave the company an “underperform” rating in a research report on Wednesday, November 1st. Finally, Cantor Fitzgerald reaffirmed a “hold” rating and set a $40.00 price objective on shares of Shutterstock in a research report on Tuesday, October 31st. Three analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $39.17.

Shutterstock (SSTK) traded down $0.80 during mid-day trading on Friday, reaching $43.03. The company had a trading volume of 131,509 shares, compared to its average volume of 231,365. Shutterstock has a one year low of $29.85 and a one year high of $55.07. The company has a market cap of $1,520.00, a price-to-earnings ratio of 62.36 and a beta of 1.50.

Shutterstock (NYSE:SSTK) last posted its quarterly earnings data on Tuesday, October 31st. The business services provider reported $0.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.01. Shutterstock had a return on equity of 9.71% and a net margin of 4.58%. The company had revenue of $141.10 million during the quarter, compared to analyst estimates of $133.24 million. During the same quarter last year, the company earned $0.40 EPS. The firm’s revenue for the quarter was up 14.6% on a year-over-year basis. research analysts predict that Shutterstock will post 0.69 EPS for the current year.

In other Shutterstock news, insider Jeffrey Kane Weiser sold 4,449 shares of Shutterstock stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $38.00, for a total value of $169,062.00. Following the completion of the sale, the insider now owns 30,500 shares of the company’s stock, valued at approximately $1,159,000. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 47.30% of the stock is currently owned by company insiders.

Several institutional investors have recently bought and sold shares of the business. Municipal Employees Retirement System of Michigan increased its holdings in shares of Shutterstock by 1.8% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 4,490 shares of the business services provider’s stock worth $198,000 after purchasing an additional 80 shares in the last quarter. Teachers Advisors LLC boosted its stake in shares of Shutterstock by 0.9% in the 2nd quarter. Teachers Advisors LLC now owns 33,365 shares of the business services provider’s stock worth $1,471,000 after buying an additional 311 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Shutterstock by 17.6% in the 2nd 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 during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Shutterstock by 1.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 83,914 shares of the business services provider’s stock worth $3,699,000 after buying an additional 878 shares during the last quarter. Finally, Thrivent Financial For Lutherans boosted its stake in shares of Shutterstock by 8.6% in the 2nd quarter. Thrivent Financial For Lutherans now owns 11,510 shares of the business services provider’s stock worth $507,000 after buying an additional 910 shares during the last quarter. 59.80% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Shutterstock (NYSE:SSTK)

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