Bridge City Capital LLC grew its stake in shares of Shutterstock, Inc. (NYSE:SSTK – Free Report) by 78.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,827 shares of the business services provider’s stock after purchasing an additional 10,048 shares during the quarter. Bridge City Capital LLC owned about 0.06% of Shutterstock worth $1,111,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Arizona State Retirement System lifted its stake in shares of Shutterstock by 2.3% during the 1st quarter. Arizona State Retirement System now owns 7,264 shares of the business services provider’s stock worth $527,000 after buying an additional 160 shares during the last quarter. Covestor Ltd lifted its position in Shutterstock by 88.6% during the first quarter. Covestor Ltd now owns 349 shares of the business services provider’s stock worth $33,000 after acquiring an additional 164 shares during the last quarter. Marshall Wace LLP boosted its holdings in shares of Shutterstock by 2.1% during the fourth quarter. Marshall Wace LLP now owns 8,100 shares of the business services provider’s stock worth $427,000 after acquiring an additional 169 shares during the period. Neuberger Berman Group LLC grew its position in shares of Shutterstock by 6.8% in the first quarter. Neuberger Berman Group LLC now owns 3,208 shares of the business services provider’s stock valued at $298,000 after purchasing an additional 204 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in shares of Shutterstock by 9.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,505 shares of the business services provider’s stock worth $132,000 after purchasing an additional 207 shares during the period. Institutional investors own 81.68% of the company’s stock.
Shutterstock Trading Up 2.4 %
NYSE SSTK traded up $1.05 on Friday, hitting $44.99. 464,722 shares of the company’s stock were exchanged, compared to its average volume of 572,223. The stock has a 50-day moving average of $38.84 and a 200-day moving average of $45.03. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of 13.84 and a beta of 1.10. Shutterstock, Inc. has a 52 week low of $33.80 and a 52 week high of $81.23.
Shutterstock Announces Dividend
Analyst Upgrades and Downgrades
A number of research analysts have commented on SSTK shares. Morgan Stanley decreased their price objective on Shutterstock from $83.00 to $55.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 1st. Needham & Company LLC dropped their price objective on shares of Shutterstock from $76.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, November 1st. Redburn Atlantic decreased their target price on shares of Shutterstock from $84.00 to $65.00 in a research report on Tuesday, October 3rd. StockNews.com upgraded shares of Shutterstock from a “hold” rating to a “buy” rating in a research report on Wednesday, November 1st. Finally, TheStreet downgraded Shutterstock from a “b-” rating to a “c+” rating in a research report on Monday, August 7th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $66.25.
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.
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