BidaskClub Lowers Shutterstock, Inc. (NYSE:SSTK) to Strong Sell

BidaskClub downgraded shares of Shutterstock, Inc. (NYSE:SSTK) from a sell rating to a strong sell rating in a research note issued to investors on Tuesday, November 7th.

A number of other equities analysts also recently commented on the stock. Cantor Fitzgerald reaffirmed a hold rating and set a $40.00 price objective on shares of Shutterstock in a report on Tuesday, October 31st. Zacks Investment Research downgraded shares of Shutterstock from a hold rating to a sell rating in a report on Wednesday, August 9th. SunTrust Banks, Inc. started coverage on shares of Shutterstock in a report on Tuesday, August 15th. They set a hold rating and a $36.00 price objective for the company. Jefferies Group LLC downgraded shares of Shutterstock from a hold rating to an underperform rating and reduced their price objective for the stock from $50.00 to $30.00 in a report on Thursday, August 24th. Finally, Deutsche Bank AG reduced their price objective on shares of Shutterstock from $41.00 to $33.00 and set a hold rating for the company in a report on Thursday, August 3rd. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. The company currently has an average rating of Hold and an average target price of $39.17.

Shutterstock (NYSE SSTK) traded up $0.37 during trading hours on Tuesday, reaching $41.93. 53,292 shares of the company were exchanged, compared to its average volume of 488,797. Shutterstock has a 1-year low of $29.85 and a 1-year high of $55.07. The firm has a market cap of $1,453.92, a price-to-earnings ratio of 53.08 and a beta of 1.47.

Shutterstock (NYSE:SSTK) last posted its earnings results on Tuesday, October 31st. The business services provider reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01. The business had revenue of $141.10 million for the quarter, compared to analyst estimates of $133.24 million. Shutterstock had a net margin of 4.58% and a return on equity of 9.71%. Shutterstock’s revenue was up 14.6% compared to the same quarter last year. During the same period last year, the business posted $0.40 EPS. equities research analysts forecast that Shutterstock will post 0.69 EPS for the current fiscal year.

In other Shutterstock news, insider Jeffrey Kane Weiser sold 4,449 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $38.00, for a total value of $169,062.00. Following the completion of the sale, the insider now owns 30,500 shares in the company, valued at approximately $1,159,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 47.30% of the company’s stock.

Several large investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio grew its position in shares of Shutterstock by 20.1% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 22,654 shares of the business services provider’s stock worth $754,000 after buying an additional 3,786 shares during the period. Cubist Systematic Strategies LLC acquired a new position in Shutterstock during the third quarter valued at approximately $133,000. Dimensional Fund Advisors LP grew its holdings in Shutterstock by 7.0% during the third quarter. Dimensional Fund Advisors LP now owns 382,635 shares of the business services provider’s stock valued at $12,738,000 after purchasing an additional 25,002 shares during the period. Wells Fargo & Company MN grew its holdings in Shutterstock by 41.3% during the third quarter. Wells Fargo & Company MN now owns 22,575 shares of the business services provider’s stock valued at $751,000 after purchasing an additional 6,602 shares during the period. Finally, Schroder Investment Management Group acquired a new position in Shutterstock during the third quarter valued at approximately $9,356,000. Institutional investors own 59.11% of the company’s stock.

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About Shutterstock

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.

Analyst Recommendations for Shutterstock (NYSE:SSTK)

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