Shutterstock, Inc. (NYSE:SSTK) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC cut its holdings in shares of Shutterstock, Inc. (NYSE:SSTKGet Rating) by 43.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 11,619 shares of the business services provider’s stock after selling 8,890 shares during the quarter. SG Americas Securities LLC’s holdings in Shutterstock were worth $583,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Dupont Capital Management Corp lifted its position in Shutterstock by 42.5% during the third quarter. Dupont Capital Management Corp now owns 4,295 shares of the business services provider’s stock worth $215,000 after buying an additional 1,282 shares during the period. New York State Teachers Retirement System lifted its position in Shutterstock by 1.4% during the third quarter. New York State Teachers Retirement System now owns 14,959 shares of the business services provider’s stock worth $750,000 after buying an additional 200 shares during the period. Robeco Institutional Asset Management B.V. lifted its position in Shutterstock by 165.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 5,762 shares of the business services provider’s stock worth $289,000 after buying an additional 3,591 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Shutterstock by 2,275.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 34,108 shares of the business services provider’s stock worth $1,711,000 after buying an additional 32,672 shares during the period. Finally, Janney Montgomery Scott LLC purchased a new position in shares of Shutterstock in the 3rd quarter worth about $226,000. 70.01% of the stock is currently owned by hedge funds and other institutional investors.

Shutterstock Stock Performance

SSTK stock opened at $61.01 on Monday. Shutterstock, Inc. has a 1 year low of $44.61 and a 1 year high of $98.74. The firm has a market cap of $2.19 billion, a P/E ratio of 26.18, a price-to-earnings-growth ratio of 6.83 and a beta of 1.06. The stock has a 50-day simple moving average of $53.80 and a 200-day simple moving average of $54.54.

Shutterstock (NYSE:SSTKGet Rating) last posted its earnings results on Tuesday, October 25th. The business services provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.04. Shutterstock had a return on equity of 24.11% and a net margin of 10.53%. The business had revenue of $204.10 million during the quarter, compared to analyst estimates of $210.48 million. On average, equities research analysts predict that Shutterstock, Inc. will post 3.34 EPS for the current year.

Analyst Upgrades and Downgrades

SSTK has been the topic of a number of research reports. Morgan Stanley cut their price objective on Shutterstock from $54.00 to $47.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 25th. Needham & Company LLC cut their price objective on Shutterstock from $70.00 to $62.00 and set a “buy” rating on the stock in a report on Wednesday, October 26th. StockNews.com initiated coverage on Shutterstock in a report on Wednesday, October 12th. They issued a “buy” rating on the stock. TheStreet upgraded Shutterstock from a “c+” rating to a “b-” rating in a report on Tuesday, January 17th. Finally, Truist Financial cut their price objective on Shutterstock from $100.00 to $80.00 and set a “buy” rating on the stock in a report on Monday, October 24th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Shutterstock currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.50.

Shutterstock Company Profile

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Shutterstock, Inc engages in the operation of a marketplace for licensed content. The firm licenses images, video, music, editorial assets, and custom content tailored to a brand’s needs. The company was founded by Jonathan Oringer in 2003 and is headquartered in New York, NY.

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Institutional Ownership by Quarter for Shutterstock (NYSE:SSTK)

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