Van Berkom & Associates Inc. Increases Holdings in Shutterstock, Inc. (SSTK)
Van Berkom & Associates Inc. raised its holdings in Shutterstock, Inc. (NYSE:SSTK) by 24.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,580,964 shares of the business services provider’s stock after purchasing an additional 307,357 shares during the period. Van Berkom & Associates Inc. owned 4.56% of Shutterstock worth $52,630,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Victory Capital Management Inc. grew its stake in Shutterstock by 17.6% during the second quarter. Victory Capital Management Inc. now owns 2,660 shares of the business services provider’s stock valued at $117,000 after acquiring an additional 398 shares in the last quarter. State of Alaska Department of Revenue grew its stake in Shutterstock by 76.7% in the 2nd quarter. State of Alaska Department of Revenue now owns 3,728 shares of the business services provider’s stock worth $164,000 after buying an additional 1,618 shares in the last quarter. Municipal Employees Retirement System of Michigan grew its stake in 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 buying an additional 80 shares in the last quarter. Stoneridge Investment Partners LLC purchased a new position in Shutterstock in the 3rd quarter worth approximately $233,000. Finally, Allen Investment Management LLC purchased a new position in Shutterstock in the 2nd quarter worth approximately $242,000. Hedge funds and other institutional investors own 59.11% of the company’s stock.
Shutterstock, Inc. (NYSE SSTK) traded up $0.38 during trading hours on Monday, reaching $41.93. 53,200 shares of the company were exchanged, compared to its average volume of 347,518. Shutterstock, Inc. has a 52 week low of $29.85 and a 52 week high of $55.07. The company has a market cap of $1,453.92, a price-to-earnings ratio of 53.08 and a beta of 1.47.
Shutterstock (NYSE:SSTK) last posted its quarterly earnings results on Tuesday, October 31st. The business services provider reported $0.31 EPS for the quarter, beating the Zacks’ 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 analyst estimates of $133.24 million. During the same period in the prior year, the business posted $0.40 EPS. The firm’s revenue was up 14.6% compared to the same quarter last year. analysts expect that Shutterstock, Inc. will post 0.69 EPS for the current fiscal year.
In other Shutterstock news, insider Jeffrey Kane Weiser sold 4,449 shares of the company’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $38.00, for a total value of $169,062.00. Following the completion of the transaction, the insider now directly owns 30,500 shares in the company, valued at approximately $1,159,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 47.30% of the stock is currently owned by corporate insiders.
A number of equities research analysts have recently weighed in on SSTK shares. BidaskClub upgraded shares of Shutterstock from a “strong sell” rating to a “sell” rating in a report on Saturday, October 28th. Zacks Investment Research upgraded 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. Jefferies Group LLC boosted their price objective on shares of Shutterstock from $30.00 to $34.00 and gave the stock an “underperform” rating in a report on Wednesday, November 1st. ValuEngine lowered shares of Shutterstock from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Finally, Deutsche Bank AG lowered their price target on shares of Shutterstock from $41.00 to $33.00 and set a “hold” rating for the company in a report on Thursday, August 3rd. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $39.17.
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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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