California Public Employees Retirement System decreased its stake in Shutterstock, Inc. (NYSE:SSTK) by 4.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 23,800 shares of the business services provider’s stock after selling 1,100 shares during the period. California Public Employees Retirement System’s holdings in Shutterstock were worth $984,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Municipal Employees Retirement System of Michigan boosted its stake in Shutterstock by 2.6% in the first quarter. Municipal Employees Retirement System of Michigan now owns 4,410 shares of the business services provider’s stock valued at $182,000 after buying an additional 110 shares during the last quarter. Mason Street Advisors LLC boosted its stake in shares of Shutterstock by 5.1% in the first quarter. Mason Street Advisors LLC now owns 4,438 shares of the business services provider’s stock worth $184,000 after buying an additional 216 shares in the last quarter. Teachers Advisors LLC boosted its stake in shares of Shutterstock by 1.6% in the fourth quarter. Teachers Advisors LLC now owns 32,069 shares of the business services provider’s stock worth $1,524,000 after buying an additional 513 shares in the last quarter. Great West Life Assurance Co. Can boosted its stake in shares of Shutterstock by 4.8% in the first quarter. Great West Life Assurance Co. Can now owns 26,434 shares of the business services provider’s stock worth $1,093,000 after buying an additional 1,218 shares in the last quarter. Finally, Fox Run Management L.L.C. boosted its stake in shares of Shutterstock by 28.7% in the first quarter. Fox Run Management L.L.C. now owns 6,563 shares of the business services provider’s stock worth $271,000 after buying an additional 1,463 shares in the last quarter. Hedge funds and other institutional investors own 60.56% of the company’s stock.

Shares of Shutterstock, Inc. (NYSE:SSTK) traded down 0.12% during midday trading on Friday, reaching $32.92. The company’s stock had a trading volume of 225,311 shares. The firm has a market capitalization of $1.14 billion, a PE ratio of 40.54 and a beta of 1.40. The company’s 50-day moving average price is $41.61 and its 200 day moving average price is $44.58. Shutterstock, Inc. has a 1-year low of $32.50 and a 1-year high of $65.16.

Shutterstock (NYSE:SSTK) last announced its quarterly earnings results on Wednesday, August 2nd. The business services provider reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by $0.12. The company had revenue of $134 million during the quarter, compared to the consensus estimate of $137.83 million. Shutterstock had a return on equity of 11.08% and a net margin of 5.59%. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period last year, the business posted $0.36 EPS. On average, equities research analysts forecast that Shutterstock, Inc. will post $1.16 earnings per share for the current year.

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A number of brokerages have weighed in on SSTK. BidaskClub cut Shutterstock from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 8th. Deutsche Bank AG reduced their price objective on Shutterstock from $41.00 to $33.00 and set a “hold” rating for the company in a research note on Thursday, August 3rd. Zacks Investment Research cut Shutterstock from a “hold” rating to a “sell” rating in a research note on Wednesday. Royal Bank Of Canada reiterated a “hold” rating and issued a $50.00 price objective on shares of Shutterstock in a research note on Friday, April 21st. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $50.00 price objective on shares of Shutterstock in a research note on Friday, June 23rd. Two analysts have rated the stock with a sell rating and seven have given a hold rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $44.00.

Shutterstock Company Profile

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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Institutional Ownership by Quarter for Shutterstock (NYSE:SSTK)

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