Shutterstock Inc. (SSTK) Stake Boosted by California Public Employees Retirement System
California Public Employees Retirement System raised its position in Shutterstock Inc. (NYSE:SSTK) by 2.3% during the second quarter, Holdings Channel reports. The institutional investor owned 30,900 shares of the company’s stock after buying an additional 700 shares during the period. California Public Employees Retirement System owned approximately 0.09% of Shutterstock worth $1,415,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of SSTK. Societe Generale purchased a new stake in Shutterstock during the second quarter worth approximately $100,000. Acrospire Investment Management LLC bought a new stake in shares of Shutterstock during the first quarter valued at about $103,000. Legal & General Group Plc increased its stake in shares of Shutterstock by 3.5% in the first quarter. Legal & General Group Plc now owns 3,642 shares of the company’s stock valued at $134,000 after buying an additional 122 shares in the last quarter. Atria Investments LLC bought a new stake in shares of Shutterstock during the second quarter valued at about $208,000. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new stake in shares of Shutterstock during the second quarter valued at about $211,000. 64.02% of the stock is currently owned by institutional investors.
Shutterstock (NYSE:SSTK) last posted its earnings results on Thursday, August 4th. The company reported $0.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.05. The company had revenue of $124.40 million for the quarter, compared to analyst estimates of $124.29 million. Shutterstock had a net margin of 5.24% and a return on equity of 11.05%. The business’s revenue for the quarter was up 19.2% compared to the same quarter last year. During the same period last year, the business posted $0.31 earnings per share.
Several brokerages recently issued reports on SSTK. Zacks Investment Research downgraded Shutterstock from a “buy” rating to a “hold” rating in a report on Wednesday, July 6th. Jefferies Group reiterated a “hold” rating on shares of Shutterstock in a report on Monday, July 11th. Deutsche Bank AG increased their price target on Shutterstock from $42.00 to $56.00 and gave the company a “hold” rating in a report on Tuesday, August 9th. Finally, Cantor Fitzgerald reiterated a “hold” rating on shares of Shutterstock in a report on Friday, September 9th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Shutterstock currently has a consensus rating of “Hold” and a consensus price target of $55.00.
Shutterstock Company Profile
Shutterstock, Inc (Shutterstock) is a global provider of creative content and commercial music. The Company’s creative 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.
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