Wall Street analysts forecast that Shutterstock Inc (NYSE:SSTK) will report $170.73 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Shutterstock’s earnings, with the highest sales estimate coming in at $173.90 million and the lowest estimate coming in at $167.45 million. Shutterstock posted sales of $156.58 million during the same quarter last year, which would indicate a positive year over year growth rate of 9%. The firm is expected to report its next quarterly earnings results on Wednesday, August 7th.

According to Zacks, analysts expect that Shutterstock will report full-year sales of $685.48 million for the current year, with estimates ranging from $682.30 million to $690.73 million. For the next financial year, analysts expect that the firm will report sales of $750.86 million, with estimates ranging from $743.86 million to $760.27 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Shutterstock.

Shutterstock (NYSE:SSTK) last issued its earnings results on Thursday, April 25th. The business services provider reported $0.25 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.04). The firm had revenue of $163.33 million during the quarter, compared to analyst estimates of $166.80 million. Shutterstock had a net margin of 4.68% and a return on equity of 12.99%. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.92 EPS.

Several research analysts recently issued reports on SSTK shares. Zacks Investment Research downgraded shares of Shutterstock from a “hold” rating to a “sell” rating in a research report on Saturday, March 2nd. SunTrust Banks reiterated a “hold” rating and set a $44.00 price target on shares of Shutterstock in a research report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $41.00.

In other Shutterstock news, Director Thomas R. Evans sold 2,500 shares of the business’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $40.29, for a total transaction of $100,725.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Deirdre Mary Bigley sold 1,592 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $39.41, for a total value of $62,740.72. The disclosure for this sale can be found here. 46.80% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in the business. Clearbridge Investments LLC increased its stake in Shutterstock by 7.5% during the 1st quarter. Clearbridge Investments LLC now owns 1,159,728 shares of the business services provider’s stock worth $54,078,000 after purchasing an additional 80,587 shares in the last quarter. Nordea Investment Management AB increased its stake in Shutterstock by 2.3% during the 1st quarter. Nordea Investment Management AB now owns 110,884 shares of the business services provider’s stock worth $5,170,000 after purchasing an additional 2,461 shares in the last quarter. BlueMountain Capital Management LLC increased its stake in Shutterstock by 53.6% during the 1st quarter. BlueMountain Capital Management LLC now owns 40,600 shares of the business services provider’s stock worth $1,893,000 after purchasing an additional 14,171 shares in the last quarter. Bernzott Capital Advisors increased its stake in Shutterstock by 0.8% during the 1st quarter. Bernzott Capital Advisors now owns 894,819 shares of the business services provider’s stock worth $41,725,000 after purchasing an additional 6,765 shares in the last quarter. Finally, Man Group plc increased its stake in Shutterstock by 35.1% during the 1st quarter. Man Group plc now owns 108,704 shares of the business services provider’s stock worth $5,068,000 after purchasing an additional 28,258 shares in the last quarter. 57.44% of the stock is owned by hedge funds and other institutional investors.

NYSE SSTK traded down $0.43 on Friday, hitting $38.57. 701 shares of the company were exchanged, compared to its average volume of 208,763. The company has a market cap of $1.35 billion, a price-to-earnings ratio of 37.05, a price-to-earnings-growth ratio of 1.61 and a beta of 1.20. Shutterstock has a 1-year low of $31.77 and a 1-year high of $55.76.

Shutterstock Company Profile

Shutterstock, Inc provides digital content, and tools and services in North America, Europe, and internationally. It offers digital imagery services that include licensed photographs, vectors, illustrations, and video clips, which is used in visual communications, such as Websites, digital and print marketing materials, corporate communications, books, publications, and video content; and music services comprising music tracks and sound effects that are used to complement digital imagery.

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