We Are One Seven LLC Buys 7,390 Shares of Shutterstock Inc (SSTK)
We Are One Seven LLC increased its stake in shares of Shutterstock Inc (NYSE:SSTK) by 101.6% during the 1st quarter, HoldingsChannel reports. The fund owned 14,667 shares of the business services provider’s stock after purchasing an additional 7,390 shares during the period. We Are One Seven LLC’s holdings in Shutterstock were worth $683,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans raised its position in shares of Shutterstock by 2.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 13,224 shares of the business services provider’s stock valued at $476,000 after purchasing an additional 290 shares in the last quarter. Bronfman E.L. Rothschild L.P. raised its position in shares of Shutterstock by 56.6% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 855 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 309 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Shutterstock by 56.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,324 shares of the business services provider’s stock valued at $48,000 after purchasing an additional 476 shares in the last quarter. Texas Permanent School Fund raised its position in shares of Shutterstock by 4.2% in the 4th quarter. Texas Permanent School Fund now owns 12,152 shares of the business services provider’s stock valued at $438,000 after purchasing an additional 492 shares in the last quarter. Finally, Great West Life Assurance Co. Can raised its position in shares of Shutterstock by 6.4% in the 4th quarter. Great West Life Assurance Co. Can now owns 24,594 shares of the business services provider’s stock valued at $819,000 after purchasing an additional 1,472 shares in the last quarter. 56.55% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Martin Brodbeck sold 5,677 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $46.48, for a total value of $263,866.96. Following the completion of the sale, the insider now directly owns 41,619 shares in the company, valued at approximately $1,934,451.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 47.20% of the stock is currently owned by insiders.
Shutterstock (NYSE:SSTK) last issued its quarterly earnings results on Tuesday, February 26th. The business services provider reported $0.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.11. Shutterstock had a return on equity of 11.55% and a net margin of 8.77%. The business had revenue of $162.10 million during the quarter, compared to the consensus estimate of $165.46 million. During the same period in the previous year, the business earned $0.30 EPS. The business’s quarterly revenue was up 6.8% on a year-over-year basis. Equities research analysts anticipate that Shutterstock Inc will post 1.08 earnings per share for the current year.
Separately, Zacks Investment Research lowered Shutterstock from a “hold” rating to a “sell” rating in a research report on Saturday, March 2nd. One analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. Shutterstock has an average rating of “Hold” and an average price target of $42.33.
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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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