Shutterstock (NYSE:SSTK – Get Rating) was downgraded by analysts at TheStreet from a “b-” rating to a “c+” rating in a note issued to investors on Thursday, TheStreetRatingsTable reports.
Other equities research analysts have also recently issued research reports about the company. Needham & Company LLC cut their target price on Shutterstock from $115.00 to $100.00 in a research note on Wednesday, April 27th. StockNews.com started coverage on Shutterstock in a research note on Thursday, March 31st. They set a “buy” rating for the company. Finally, JMP Securities reaffirmed a “buy” rating and issued a $125.00 price objective on shares of Shutterstock in a research note on Thursday, May 26th. Four research analysts have rated the stock with a buy rating, According to MarketBeat, Shutterstock has a consensus rating of “Buy” and an average price target of $118.33.
Shares of Shutterstock stock opened at $52.37 on Thursday. Shutterstock has a one year low of $51.68 and a one year high of $128.36. The company has a market cap of $1.90 billion, a price-to-earnings ratio of 22.00, a PEG ratio of 2.76 and a beta of 1.26. The business’s 50 day moving average price is $66.96 and its 200 day moving average price is $86.67.
Shutterstock (NYSE:SSTK – Get Rating) last announced its quarterly earnings data on Tuesday, April 26th. The business services provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.24. Shutterstock had a return on equity of 22.22% and a net margin of 11.27%. The firm had revenue of $199.10 million for the quarter, compared to the consensus estimate of $202.01 million. During the same quarter last year, the business posted $0.81 earnings per share. The firm’s revenue was up 8.6% compared to the same quarter last year. Equities analysts predict that Shutterstock will post 2.68 EPS for the current fiscal year.
In other news, Director Paul J. Hennessy bought 10,000 shares of Shutterstock stock in a transaction dated Friday, June 10th. The stock was acquired at an average cost of $56.47 per share, with a total value of $564,700.00. Following the acquisition, the director now owns 31,134 shares of the company’s stock, valued at $1,758,136.98. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Deirdre Mary Bigley sold 426 shares of the business’s stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $60.59, for a total value of $25,811.34. Following the completion of the sale, the director now directly owns 9,528 shares of the company’s stock, valued at $577,301.52. The disclosure for this sale can be found here. Insiders have sold a total of 90,294 shares of company stock valued at $8,058,748 over the last ninety days. 37.40% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. American Trust purchased a new stake in Shutterstock during the 1st quarter valued at approximately $212,000. Teachers Retirement System of The State of Kentucky raised its stake in Shutterstock by 2.1% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 25,397 shares of the business services provider’s stock valued at $2,363,000 after acquiring an additional 524 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Shutterstock by 45.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,847 shares of the business services provider’s stock valued at $3,616,000 after acquiring an additional 12,125 shares during the last quarter. Neuberger Berman Group LLC raised its stake in Shutterstock by 6.8% during the 1st quarter. Neuberger Berman Group LLC now owns 3,208 shares of the business services provider’s stock valued at $298,000 after acquiring an additional 204 shares during the last quarter. Finally, Sawgrass Asset Management LLC purchased a new stake in Shutterstock during the 1st quarter valued at approximately $219,000. 66.33% of the stock is owned by hedge funds and other institutional investors.
About Shutterstock (Get Rating)
Shutterstock, Inc, a technology company, provides quality content, and creative workflow solutions in North America, Europe, and internationally. It offers image services consisting of photographs, vectors, and illustrations, which is used in visual communications, such as websites, digital and print marketing materials, corporate communications, books, publications, and others; footage services, including video clips, filmed by industry experts and cinema grade video effects, and HD and 4K formats that are integrated into Websites, social media, marketing campaigns, and cinematic productions; and music services comprising music tracks and sound effects, which are used to complement images and footage.