Shutterstock, Inc. (SSTK) Position Reduced by Bank of Montreal Can
Bank of Montreal Can cut its position in shares of Shutterstock, Inc. (NYSE:SSTK) by 32.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,456 shares of the business services provider’s stock after selling 12,922 shares during the period. Bank of Montreal Can owned approximately 0.08% of Shutterstock worth $1,166,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Engineers Gate Manager LP bought a new stake in Shutterstock during the first quarter worth approximately $699,000. Sei Investments Co. increased its stake in Shutterstock by 67.0% in the first quarter. Sei Investments Co. now owns 324,772 shares of the business services provider’s stock worth $13,429,000 after buying an additional 130,299 shares in the last quarter. Van Berkom & Associates Inc. increased 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 worth $53,666,000 after buying an additional 223,490 shares in the last quarter. LS Investment Advisors LLC increased its stake in Shutterstock by 250.0% in the first quarter. LS Investment Advisors LLC now owns 2,583 shares of the business services provider’s stock worth $107,000 after buying an additional 1,845 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Shutterstock by 10.0% in the first quarter. Bank of New York Mellon Corp now owns 307,829 shares of the business services provider’s stock worth $12,728,000 after buying an additional 28,013 shares in the last quarter. Institutional investors and hedge funds own 61.99% of the company’s stock.
Shares of Shutterstock, Inc. (NYSE:SSTK) traded down 1.25% during midday trading on Friday, hitting $33.27. The company’s stock had a trading volume of 149,631 shares. The company has a 50-day moving average price of $40.08 and a 200 day moving average price of $43.88. Shutterstock, Inc. has a 1-year low of $32.50 and a 1-year high of $65.16. The company has a market cap of $1.15 billion, a P/E ratio of 40.97 and a beta of 1.40.
Shutterstock (NYSE:SSTK) last posted 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. Shutterstock had a net margin of 5.59% and a return on equity of 11.08%. The firm had revenue of $134 million during the quarter, compared to analysts’ expectations of $137.83 million. During the same quarter in the previous year, the company posted $0.36 EPS. Shutterstock’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, equities research analysts predict that Shutterstock, Inc. will post $1.17 EPS for the current year.
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A number of equities research analysts recently commented on the company. Jefferies Group LLC reiterated a “hold” rating and issued a $50.00 price objective on shares of Shutterstock in a report on Friday, June 23rd. BidaskClub downgraded Shutterstock from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Zacks Investment Research upgraded Shutterstock from a “sell” rating to a “hold” rating in a report on Tuesday, May 2nd. TheStreet downgraded Shutterstock from a “b-” rating to a “c” rating in a report on Friday, July 7th. Finally, Deutsche Bank AG lowered their price target on Shutterstock from $41.00 to $33.00 and set a “hold” rating for the company in a report on Thursday, August 3rd. Two analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. The stock presently has an average rating of “Hold” and an average target price of $42.40.
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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