Trade Report: Today, Virginia Retirement Systems ET AL decides to keep it stake in Shutterstock Inc. (SSTK) to the level of $357,000

Today, Virginia Retirement Systems ET AL decides to keep it stake in Shutterstock Inc. (SSTK) to the level of $357,000

Virginia Retirement Systems ET AL held its position in shares of Shutterstock Inc. (NYSE:SSTK) during the third quarter, Holdings Channel reports. The fund owned 5,600 shares of the company’s stock at the end of the third quarter. Virginia Retirement Systems ET AL’s holdings in Shutterstock were worth $357,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Nordea Investment Management AB acquired a new position in Shutterstock during the second quarter worth approximately $509,000. Louisiana State Employees Retirement System increased its position in Shutterstock by 1.2% in the third quarter. Louisiana State Employees Retirement System now owns 8,500 shares of the company’s stock worth $541,000 after buying an additional 100 shares in the last quarter. Strs Ohio increased its position in Shutterstock by 53.1% in the third quarter. Strs Ohio now owns 14,700 shares of the company’s stock worth $936,000 after buying an additional 5,100 shares in the last quarter. Elk Creek Partners LLC increased its position in Shutterstock by 18.5% in the second quarter. Elk Creek Partners LLC now owns 239,599 shares of the company’s stock worth $10,974,000 after buying an additional 37,364 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System increased its position in Shutterstock by 2.8% in the second quarter. State Board of Administration of Florida Retirement System now owns 16,150 shares of the company’s stock worth $740,000 after buying an additional 438 shares in the last quarter. 67.54% of the stock is owned by hedge funds and other institutional investors.

Shutterstock Inc. (NYSE:SSTK) traded down 1.21% on Friday, reaching $48.89. 97,101 shares of the company’s stock traded hands. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of 58.97 and a beta of 1.72. Shutterstock Inc. has a 52-week low of $25.44 and a 52-week high of $65.16. The company’s 50 day moving average is $55.95 and its 200-day moving average is $53.28.

Shutterstock (NYSE:SSTK) last posted its quarterly earnings results on Friday, November 4th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.08. Shutterstock had a net margin of 6.17% and a return on equity of 12.78%. The firm earned $123.10 million during the quarter, compared to the consensus estimate of $127.58 million. During the same period in the previous year, the firm posted $0.28 earnings per share. The business’s revenue was up 14.7% compared to the same quarter last year. Equities analysts expect that Shutterstock Inc. will post $1.57 EPS for the current year.

A number of equities analysts have recently commented on SSTK shares. Cantor Fitzgerald downgraded shares of Shutterstock from a “buy” rating to a “hold” rating and set a $60.00 price objective for the company. in a research note on Thursday, August 4th. Zacks Investment Research downgraded shares of Shutterstock from a “hold” rating to a “sell” rating in a research note on Tuesday, October 11th. Jefferies Group reiterated a “hold” rating and issued a $60.00 target price on shares of Shutterstock in a research note on Tuesday, September 6th. RBC Capital Markets reiterated a “hold” rating and issued a $60.00 target price on shares of Shutterstock in a research note on Friday, November 4th. Finally, Deutsche Bank AG raised their target price on shares of Shutterstock from $42.00 to $56.00 and gave the company a “hold” rating in a research note on Tuesday, August 9th. Eight research analysts have rated the stock with a hold rating, The stock currently has a consensus rating of “Hold” and a consensus price target of $54.67.

About Shutterstock

Shutterstock, Inc (Shutterstock) is a global provider of creative content and commercial music. The Company’s creative 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.

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