Shares of Shutterstock Inc (NYSE:SSTK) have been given a consensus rating of “Hold” by the seven ratings firms that are currently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $43.75.

Several equities analysts have recently commented on the company. ValuEngine upgraded Shutterstock from a “sell” rating to a “hold” rating in a research note on Monday, June 11th. SunTrust Banks restated a “hold” rating and set a $48.00 price target on shares of Shutterstock in a research note on Wednesday, August 1st. Deutsche Bank raised their price target on Shutterstock from $40.00 to $43.00 and gave the company a “hold” rating in a research note on Wednesday, August 15th. Finally, Jefferies Financial Group reaffirmed a “sell” rating and set a $44.00 price objective on shares of Shutterstock in a research report on Thursday, August 2nd.

Shares of Shutterstock stock traded up $1.71 during trading on Friday, hitting $53.37. 237,395 shares of the stock traded hands, compared to its average volume of 185,780. The firm has a market cap of $1.81 billion, a P/E ratio of 75.17, a P/E/G ratio of 3.02 and a beta of 1.43. Shutterstock has a 52-week low of $32.50 and a 52-week high of $55.41.

Shutterstock (NYSE:SSTK) last announced its quarterly earnings results on Wednesday, August 1st. The business services provider reported $0.30 EPS for the quarter, beating the consensus estimate of $0.19 by $0.11. The firm had revenue of $156.60 million for the quarter, compared to analyst estimates of $156.40 million. Shutterstock had a return on equity of 7.82% and a net margin of 6.54%. The business’s revenue for the quarter was up 16.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.24 earnings per share. research analysts forecast that Shutterstock will post 0.78 earnings per share for the current year.

The business also recently disclosed a dividend, which was paid on Wednesday, August 29th. Investors of record on Wednesday, August 15th were given a dividend of $3.00 per share. The ex-dividend date of this dividend was Tuesday, August 14th.

In related news, Director Thomas R. Evans sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $51.18, for a total transaction of $511,800.00. Following the sale, the director now owns 24,591 shares of the company’s stock, valued at $1,258,567.38. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Martin Brodbeck sold 4,813 shares of the firm’s stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $51.18, for a total value of $246,329.34. Following the sale, the insider now directly owns 55,101 shares in the company, valued at approximately $2,820,069.18. The disclosure for this sale can be found here. 47.20% of the stock is owned by company insiders.

A number of hedge funds have recently modified their holdings of the stock. Rhumbline Advisers boosted its holdings in Shutterstock by 3.3% in the first quarter. Rhumbline Advisers now owns 42,941 shares of the business services provider’s stock worth $2,068,000 after acquiring an additional 1,386 shares in the last quarter. Comerica Bank boosted its holdings in Shutterstock by 14.0% in the first quarter. Comerica Bank now owns 21,608 shares of the business services provider’s stock worth $1,120,000 after acquiring an additional 2,652 shares in the last quarter. Mackay Shields LLC acquired a new stake in Shutterstock in the first quarter worth about $1,199,000. Trexquant Investment LP acquired a new stake in Shutterstock in the first quarter worth about $444,000. Finally, Swiss National Bank boosted its holdings in Shutterstock by 4.7% in the first quarter. Swiss National Bank now owns 33,200 shares of the business services provider’s stock worth $1,599,000 after acquiring an additional 1,500 shares in the last quarter. 63.83% of the stock is currently owned by institutional investors.

About Shutterstock

Shutterstock, Inc provides content products and services in North America, Europe, and internationally. It offers digital imagery services, which include 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 services comprising music tracks and sound effects that are used to complement digital imagery.

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