Public Employees Retirement System of Ohio Has $754,000 Position in Shutterstock, Inc. (SSTK)
Public Employees Retirement System of Ohio boosted its stake in shares of Shutterstock, Inc. (NYSE:SSTK) by 20.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,654 shares of the business services provider’s stock after acquiring an additional 3,786 shares during the quarter. Public Employees Retirement System of Ohio owned 0.07% of Shutterstock worth $754,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently modified their holdings of the company. Jackson Square Partners LLC raised its position in Shutterstock by 11.1% during the 2nd quarter. Jackson Square Partners LLC now owns 2,493,419 shares of the business services provider’s stock valued at $109,909,000 after purchasing an additional 250,067 shares during the last quarter. Vanguard Group Inc. raised its position in Shutterstock by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 1,674,695 shares of the business services provider’s stock valued at $73,821,000 after purchasing an additional 5,258 shares during the last quarter. Van Berkom & Associates Inc. raised its position in Shutterstock by 24.1% during the 3rd quarter. Van Berkom & Associates Inc. now owns 1,580,964 shares of the business services provider’s stock valued at $52,630,000 after purchasing an additional 307,357 shares during the last quarter. Bank of New York Mellon Corp raised its position in Shutterstock by 167.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 824,055 shares of the business services provider’s stock valued at $36,323,000 after purchasing an additional 516,226 shares during the last quarter. Finally, Janus Henderson Group PLC bought a new position in Shutterstock during the 2nd quarter valued at approximately $20,224,000. Institutional investors own 59.80% of the company’s stock.
In other news, insider Jeffrey Kane Weiser sold 4,449 shares of the stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $38.00, for a total value of $169,062.00. Following the completion of the transaction, the insider now owns 30,500 shares of the company’s stock, valued at approximately $1,159,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 47.30% of the stock is currently owned by corporate insiders.
Shutterstock, Inc. (NYSE:SSTK) opened at $44.19 on Friday. Shutterstock, Inc. has a 52-week low of $29.85 and a 52-week high of $55.07. The stock has a market capitalization of $1,550.00, a P/E ratio of 64.04 and a beta of 1.50.
Shutterstock (NYSE:SSTK) last announced its earnings results on Tuesday, October 31st. The business services provider reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.01. Shutterstock had a return on equity of 9.71% and a net margin of 4.58%. The firm had revenue of $141.10 million during the quarter, compared to analyst estimates of $133.24 million. During the same quarter in the prior year, the company earned $0.40 EPS. The business’s revenue was up 14.6% compared to the same quarter last year. equities analysts anticipate that Shutterstock, Inc. will post 0.69 earnings per share for the current year.
A number of research analysts have commented on SSTK shares. Zacks Investment Research raised Shutterstock from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a research report on Saturday, November 4th. Cantor Fitzgerald reaffirmed a “hold” rating and set a $40.00 price target on shares of Shutterstock in a research report on Tuesday, October 31st. BidaskClub lowered Shutterstock from a “sell” rating to a “strong sell” rating in a research report on Tuesday, November 7th. ValuEngine lowered Shutterstock from a “hold” rating to a “sell” rating in a research report on Sunday, December 31st. Finally, Jefferies Group increased their target price on Shutterstock from $30.00 to $34.00 and gave the stock an “underperform” rating in a research report on Wednesday, November 1st. Three research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. Shutterstock presently has an average rating of “Hold” and an average price target of $39.17.
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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