Shutterstock, Inc. (SSTK) Position Lowered by New York State Teachers Retirement System

New York State Teachers Retirement System reduced its position in shares of Shutterstock, Inc. (NYSE:SSTK) by 13.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,350 shares of the business services provider’s stock after selling 1,500 shares during the period. New York State Teachers Retirement System’s holdings in Shutterstock were worth $387,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in SSTK. State Street Corp raised its position in shares of Shutterstock by 6.9% in the fourth quarter. State Street Corp now owns 406,439 shares of the business services provider’s stock worth $19,319,000 after buying an additional 26,101 shares during the last quarter. Trexquant Investment LP acquired a new position in shares of Shutterstock during the first quarter worth about $492,000. Capital Impact Advisors LLC raised its position in shares of Shutterstock by 70.9% in the first quarter. Capital Impact Advisors LLC now owns 40,940 shares of the business services provider’s stock worth $1,693,000 after buying an additional 16,983 shares during the last quarter. Guggenheim Capital LLC raised its position in shares of Shutterstock by 706.4% in the fourth quarter. Guggenheim Capital LLC now owns 44,448 shares of the business services provider’s stock worth $2,113,000 after buying an additional 38,936 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its position in shares of Shutterstock by 7.0% in the fourth quarter. Thrivent Financial for Lutherans now owns 10,410 shares of the business services provider’s stock worth $495,000 after buying an additional 680 shares during the last quarter. 60.40% of the stock is currently owned by institutional investors.

Shares of Shutterstock, Inc. (NYSE SSTK) opened at 43.09 on Friday. The company has a market capitalization of $1.49 billion, a P/E ratio of 46.28 and a beta of 1.42. Shutterstock, Inc. has a one year low of $39.66 and a one year high of $65.16. The stock has a 50 day moving average price of $44.25 and a 200-day moving average price of $45.61.

Shutterstock (NYSE:SSTK) last announced its quarterly earnings data on Wednesday, May 3rd. The business services provider reported $0.21 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.21. Shutterstock had a return on equity of 12.74% and a net margin of 6.52%. The company had revenue of $130.20 million during the quarter, compared to the consensus estimate of $129.62 million. During the same quarter last year, the company earned $0.36 EPS. The company’s quarterly revenue was up 11.6% on a year-over-year basis. Equities research analysts predict that Shutterstock, Inc. will post $1.47 earnings per share for the current fiscal year.

A number of equities analysts have issued reports on SSTK shares. BidaskClub lowered Shutterstock from a “buy” rating to a “hold” rating in a research report on Monday. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $50.00 target price on shares of Shutterstock in a research report on Friday, April 21st. Jefferies Group LLC reaffirmed a “hold” rating and issued a $50.00 target price on shares of Shutterstock in a research report on Friday, June 23rd. Zacks Investment Research raised Shutterstock from a “sell” rating to a “hold” rating in a research report on Tuesday, May 2nd. Finally, TheStreet lowered Shutterstock from a “b-” rating to a “c” rating in a research report on Friday, July 7th. Nine research analysts have rated the stock with a hold rating, Shutterstock has an average rating of “Hold” and a consensus target price of $49.75.

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.