Great West Life Assurance Co. Can Lowers Holdings in Shutterstock, Inc. (SSTK)
Great West Life Assurance Co. Can cut its position in Shutterstock, Inc. (NYSE:SSTK) by 8.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,322 shares of the business services provider’s stock after selling 2,112 shares during the quarter. Great West Life Assurance Co. Can owned about 0.07% of Shutterstock worth $812,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the business. Municipal Employees Retirement System of Michigan raised its stake in shares of Shutterstock by 1.8% in the second quarter. Municipal Employees Retirement System of Michigan now owns 4,490 shares of the business services provider’s stock valued at $198,000 after buying an additional 80 shares during the period. Teachers Advisors LLC grew its position in shares of Shutterstock by 0.9% in the second quarter. Teachers Advisors LLC now owns 33,365 shares of the business services provider’s stock valued at $1,471,000 after purchasing an additional 311 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Shutterstock by 17.6% in the second quarter. Victory Capital Management Inc. now owns 2,660 shares of the business services provider’s stock valued at $117,000 after purchasing an additional 398 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of Shutterstock by 1.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 83,914 shares of the business services provider’s stock valued at $3,699,000 after purchasing an additional 878 shares in the last quarter. Finally, Thrivent Financial For Lutherans grew its position in shares of Shutterstock by 8.6% in the second quarter. Thrivent Financial For Lutherans now owns 11,510 shares of the business services provider’s stock valued at $507,000 after purchasing an additional 910 shares in the last quarter. Hedge funds and other institutional investors own 59.80% of the company’s stock.
In related news, insider Jeffrey Kane Weiser sold 4,449 shares of the business’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $38.00, for a total transaction of $169,062.00. Following the completion of the transaction, the insider now directly owns 30,500 shares in the company, valued at $1,159,000. The transaction was disclosed in a document filed with the SEC, which is available through this link. 47.30% of the stock is owned by insiders.
Shutterstock, Inc. (NYSE:SSTK) opened at $44.03 on Friday. Shutterstock, Inc. has a 52-week low of $29.85 and a 52-week high of $55.07. The company has a market capitalization of $1,529.86, a PE ratio of 63.81 and a beta of 1.50.
Shutterstock (NYSE:SSTK) last posted its earnings results on Tuesday, October 31st. The business services provider reported $0.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.01. Shutterstock had a return on equity of 9.71% and a net margin of 4.58%. The business had revenue of $141.10 million during the quarter, compared to analysts’ expectations of $133.24 million. During the same period in the previous year, the business earned $0.40 earnings per share. The firm’s revenue was up 14.6% on a year-over-year basis. analysts forecast that Shutterstock, Inc. will post 0.69 EPS for the current fiscal year.
Several equities analysts have recently weighed in on SSTK shares. BidaskClub upgraded Shutterstock from a “strong sell” rating to a “sell” rating in a research report on Saturday, October 28th. Zacks Investment Research upgraded Shutterstock from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a research report on Saturday, November 4th. Jefferies Group lifted their price target on Shutterstock from $30.00 to $34.00 and gave the company an “underperform” rating in a research report on Wednesday, November 1st. ValuEngine cut Shutterstock from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Finally, Cantor Fitzgerald reiterated a “hold” rating and issued a $40.00 price target on shares of Shutterstock in a research report on Tuesday, October 31st. Three analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. Shutterstock currently has a consensus rating of “Hold” and a consensus target price of $39.17.
Shutterstock, Inc (Shutterstock) is a global technology company that operates a two-sided marketplace for professionals to license content. The Company’s library of content includes digital imagery, which consists of 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, which consists of music tracks and sound effects and which is often used to complement digital imagery.
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