State Street Corp increased its position in shares of Shutterstock, Inc. (NYSE:SSTK) by 6.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 433,507 shares of the business services provider’s stock after buying an additional 27,068 shares during the period. State Street Corp owned 1.25% of Shutterstock worth $17,926,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the stock. FMR LLC acquired a new stake in Shutterstock during the first quarter valued at approximately $102,563,000. BlackRock Inc. raised its stake in Shutterstock by 140,371.5% in the first quarter. BlackRock Inc. now owns 2,286,876 shares of the business services provider’s stock valued at $94,562,000 after buying an additional 2,285,248 shares in the last quarter. Jennison Associates LLC acquired a new stake in Shutterstock during the first quarter valued at approximately $19,555,000. Van Berkom & Associates Inc. raised its stake in Shutterstock by 20.8% in the first quarter. Van Berkom & Associates Inc. now owns 1,297,836 shares of the business services provider’s stock valued at $53,666,000 after buying an additional 223,490 shares in the last quarter. Finally, Norges Bank acquired a new stake in Shutterstock during the fourth quarter valued at approximately $8,916,000. Institutional investors own 61.99% of the company’s stock.

Shares of Shutterstock, Inc. (NYSE:SSTK) traded up 0.18% on Wednesday, hitting $33.84. 19,818 shares of the stock were exchanged. The stock has a market cap of $1.17 billion, a PE ratio of 41.67 and a beta of 1.40. Shutterstock, Inc. has a 52-week low of $32.50 and a 52-week high of $65.16. The company’s 50 day moving average is $40.96 and its 200-day moving average is $44.17.

Shutterstock (NYSE:SSTK) last issued its quarterly earnings results on Wednesday, August 2nd. The business services provider reported $0.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by $0.12. The business had revenue of $134 million for the quarter, compared to analyst estimates of $137.83 million. Shutterstock had a return on equity of 11.08% and a net margin of 5.59%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.36 EPS. Analysts predict that Shutterstock, Inc. will post $1.16 EPS for the current fiscal year.

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Several research firms have recently commented on SSTK. Jefferies Group LLC restated a “hold” rating and issued a $50.00 price target on shares of Shutterstock in a report on Friday, June 23rd. BidaskClub lowered shares of Shutterstock from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Zacks Investment Research upgraded shares of Shutterstock from a “sell” rating to a “hold” rating in a report on Tuesday, May 2nd. TheStreet lowered shares of Shutterstock from a “b-” rating to a “c” rating in a report on Friday, July 7th. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $50.00 price target on shares of Shutterstock in a report on Friday, April 21st. Two investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Shutterstock has an average rating of “Hold” and an average price target 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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