Raymond James & Associates raised its holdings in Shutterstock, Inc. (NYSE:SSTK – Get Rating) by 32.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 46,780 shares of the business services provider’s stock after purchasing an additional 11,364 shares during the quarter. Raymond James & Associates owned about 0.13% of Shutterstock worth $2,347,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently bought and sold shares of the business. Louisiana State Employees Retirement System acquired a new position in Shutterstock in the third quarter valued at $577,000. Boston Trust Walden Corp increased its stake in shares of Shutterstock by 51.7% during the third quarter. Boston Trust Walden Corp now owns 535,021 shares of the business services provider’s stock worth $26,842,000 after acquiring an additional 182,323 shares during the period. Copeland Capital Management LLC increased its stake in shares of Shutterstock by 0.9% during the third quarter. Copeland Capital Management LLC now owns 729,313 shares of the business services provider’s stock worth $36,590,000 after acquiring an additional 6,307 shares during the period. Hussman Strategic Advisors Inc. increased its stake in shares of Shutterstock by 78.8% during the second quarter. Hussman Strategic Advisors Inc. now owns 46,500 shares of the business services provider’s stock worth $2,665,000 after acquiring an additional 20,500 shares during the period. Finally, M&G Investment Management Ltd. acquired a new position in shares of Shutterstock during the second quarter worth about $1,466,000. 70.01% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on SSTK. Truist Financial dropped their price target on shares of Shutterstock from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday, October 24th. StockNews.com began coverage on shares of Shutterstock in a research note on Wednesday, October 12th. They set a “buy” rating on the stock. Morgan Stanley dropped their price target on shares of Shutterstock from $54.00 to $47.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 25th. JMP Securities downgraded shares of Shutterstock from an “outperform” rating to a “market perform” rating in a report on Monday, November 28th. Finally, TheStreet raised shares of Shutterstock from a “c+” rating to a “b-” rating in a report on Tuesday, January 17th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $78.50.
Shutterstock Trading Down 0.0 %
Shutterstock (NYSE:SSTK – Get Rating) last announced its quarterly earnings results on Tuesday, October 25th. The business services provider reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.04. Shutterstock had a net margin of 10.53% and a return on equity of 24.11%. The company had revenue of $204.10 million for the quarter, compared to the consensus estimate of $210.48 million. On average, equities research analysts expect that Shutterstock, Inc. will post 3.34 earnings per share for the current year.
Shutterstock Company Profile
Shutterstock, Inc engages in the operation of a marketplace for licensed content. The firm licenses images, video, music, editorial assets, and custom content tailored to a brand’s needs. The company was founded by Jonathan Oringer in 2003 and is headquartered in New York, NY.
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