State Board of Administration of Florida Retirement System trimmed its holdings in shares of Shutterstock Inc (NYSE:SSTK) by 3.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,653 shares of the business services provider’s stock after selling 620 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Shutterstock were worth $730,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. Redmond Asset Management LLC increased its holdings in Shutterstock by 1.9% in the 1st quarter. Redmond Asset Management LLC now owns 12,972 shares of the business services provider’s stock valued at $605,000 after buying an additional 237 shares during the period. Thrivent Financial for Lutherans increased its holdings in Shutterstock by 2.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 13,224 shares of the business services provider’s stock valued at $476,000 after buying an additional 290 shares during the period. Bronfman E.L. Rothschild L.P. increased its holdings in Shutterstock by 56.6% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 855 shares of the business services provider’s stock valued at $31,000 after buying an additional 309 shares during the period. Texas Permanent School Fund increased its holdings in Shutterstock by 3.9% in the 1st quarter. Texas Permanent School Fund now owns 12,624 shares of the business services provider’s stock valued at $589,000 after buying an additional 472 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Shutterstock by 56.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,324 shares of the business services provider’s stock valued at $48,000 after buying an additional 476 shares during the period. 57.44% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Thomas R. Evans sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $40.29, for a total value of $100,725.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Martin Brodbeck sold 5,677 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $46.48, for a total transaction of $263,866.96. Following the completion of the sale, the insider now owns 41,619 shares in the company, valued at $1,934,451.12. The disclosure for this sale can be found here. Company insiders own 46.80% of the company’s stock.

SSTK opened at $38.21 on Tuesday. Shutterstock Inc has a 1-year low of $31.77 and a 1-year high of $55.76. The company has a market capitalization of $1.34 billion, a PE ratio of 36.39, a P/E/G ratio of 1.60 and a beta of 1.20.

Shutterstock (NYSE:SSTK) last posted its quarterly earnings results on Thursday, April 25th. The business services provider reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.04). Shutterstock had a net margin of 4.68% and a return on equity of 12.99%. The company had revenue of $163.33 million during the quarter, compared to analyst estimates of $166.80 million. During the same quarter in the previous year, the business posted $0.92 earnings per share. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. Sell-side analysts anticipate that Shutterstock Inc will post 0.95 earnings per share for the current year.

SSTK has been the topic of several recent analyst reports. SunTrust Banks reissued a “hold” rating and issued a $44.00 target price on shares of Shutterstock in a report on Tuesday, May 21st. Zacks Investment Research raised shares of Shutterstock from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $41.00.

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About Shutterstock

Shutterstock, Inc provides digital content, and tools and services in North America, Europe, and internationally. It offers digital imagery services that include licensed photographs, vectors, illustrations, and video clips, which is used in visual communications, such as Websites, digital and print marketing materials, corporate communications, books, publications, and video content; and music services comprising music tracks and sound effects that are used to complement digital imagery.

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Institutional Ownership by Quarter for Shutterstock (NYSE:SSTK)

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