Shutterstock Inc (SSTK) Shares Sold by Dynamic Technology Lab Private Ltd

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Dynamic Technology Lab Private Ltd decreased its position in Shutterstock Inc (NYSE:SSTK) by 19.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 7,508 shares of the business services provider’s stock after selling 1,818 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Shutterstock were worth $357,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Cutler Group LP lifted its position in Shutterstock by 357.1% during the second quarter. Cutler Group LP now owns 2,571 shares of the business services provider’s stock worth $122,000 after buying an additional 3,571 shares during the period. Federated Investors Inc. PA purchased a new position in shares of Shutterstock in the 1st quarter worth about $184,000. SG Americas Securities LLC purchased a new position in shares of Shutterstock in the 2nd quarter worth about $204,000. Piedmont Investment Advisors LLC purchased a new position in shares of Shutterstock in the 2nd quarter worth about $205,000. Finally, Point72 Asia Hong Kong Ltd grew its stake in shares of Shutterstock by 3,798.3% in the first quarter. Point72 Asia Hong Kong Ltd now owns 4,639 shares of the business services provider’s stock valued at $223,000 after buying an additional 4,520 shares in the last quarter. 63.81% of the stock is currently owned by institutional investors.

In other news, Director Thomas R. Evans sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $51.18, for a total value of $511,800.00. Following the sale, the director now directly owns 24,591 shares in the company, valued at approximately $1,258,567.38. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Martin Brodbeck sold 4,813 shares of the company’s stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $51.18, for a total value of $246,329.34. Following the completion of the sale, the insider now owns 55,101 shares in the company, valued at $2,820,069.18. The disclosure for this sale can be found here. 47.20% of the stock is owned by insiders.

A number of research firms have recently issued reports on SSTK. ValuEngine upgraded Shutterstock from a “hold” rating to a “buy” rating in a research note on Tuesday, October 2nd. Deutsche Bank lifted their target price on Shutterstock from $40.00 to $43.00 and gave the stock a “hold” rating in a research report on Wednesday, August 15th. Jefferies Financial Group reiterated a “sell” rating and issued a $44.00 target price on shares of Shutterstock in a research report on Thursday, August 2nd. Finally, SunTrust Banks reissued a “hold” rating and issued a $48.00 price target on shares of Shutterstock in a report on Wednesday, August 1st. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $43.40.

Shares of SSTK traded up $1.07 during midday trading on Friday, reaching $47.52. The stock had a trading volume of 269,379 shares, compared to its average volume of 249,096. The company has a market capitalization of $1.91 billion, a PE ratio of 66.93, a P/E/G ratio of 3.19 and a beta of 1.24. Shutterstock Inc has a 52 week low of $33.33 and a 52 week high of $55.76.

Shutterstock (NYSE:SSTK) last issued its quarterly earnings results on Wednesday, August 1st. The business services provider reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.11. Shutterstock had a return on equity of 7.82% and a net margin of 6.54%. The business had revenue of $156.60 million for the quarter, compared to the consensus estimate of $156.40 million. During the same quarter in the previous year, the company posted $0.24 earnings per share. Shutterstock’s revenue for the quarter was up 16.9% compared to the same quarter last year. Research analysts expect that Shutterstock Inc will post 0.78 earnings per share for the current fiscal year.

About Shutterstock

Shutterstock, Inc provides content products and services in North America, Europe, and internationally. It offers digital imagery services, which include 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 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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