Comerica Bank Sells 1,073 Shares of Shutterstock, Inc. (SSTK)
Comerica Bank reduced its stake in shares of Shutterstock, Inc. (NYSE:SSTK) by 5.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,948 shares of the business services provider’s stock after selling 1,073 shares during the period. Comerica Bank owned 0.06% of Shutterstock worth $882,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of SSTK. LS Investment Advisors LLC raised its holdings in Shutterstock by 250.0% during the first quarter. LS Investment Advisors LLC now owns 2,583 shares of the business services provider’s stock valued at $107,000 after buying an additional 1,845 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in Shutterstock by 76.7% during the second quarter. State of Alaska Department of Revenue now owns 3,728 shares of the business services provider’s stock valued at $164,000 after buying an additional 1,618 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its holdings in Shutterstock by 2.6% during 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 in the last quarter. Mason Street Advisors LLC raised its holdings in Shutterstock by 5.1% during the first quarter. Mason Street Advisors LLC now owns 4,438 shares of the business services provider’s stock valued at $184,000 after buying an additional 216 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new position in Shutterstock during the second quarter valued at about $284,000. Institutional investors own 62.92% of the company’s stock.
Shutterstock, Inc. (NYSE SSTK) opened at 34.02 on Wednesday. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of 41.90 and a beta of 1.45. The stock has a 50 day moving average price of $33.71 and a 200-day moving average price of $41.01. Shutterstock, Inc. has a 1-year low of $29.85 and a 1-year high of $65.16.
Shutterstock (NYSE:SSTK) last issued its earnings results on Wednesday, August 2nd. The business services provider reported $0.24 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.12). The firm had revenue of $134.00 million during the quarter, compared to the consensus estimate of $137.83 million. Shutterstock had a net margin of 5.59% and a return on equity of 11.08%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.36 earnings per share. Equities analysts predict that Shutterstock, Inc. will post $1.16 earnings per share for the current year.
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SSTK has been the topic of several recent research reports. BidaskClub lowered Shutterstock from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. ValuEngine lowered Shutterstock from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Zacks Investment Research upgraded Shutterstock from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. TheStreet lowered Shutterstock from a “b-” rating to a “c” rating in a report on Friday, July 7th. Finally, Jefferies Group LLC restated a “hold” rating and set a $50.00 target price on shares of Shutterstock in a report on Friday, June 23rd. Three research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. Shutterstock has a consensus rating of “Hold” and an average price target of $38.40.
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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