Shutterstock (SSTK) Cut to “Sell” at ValuEngine

ValuEngine lowered shares of Shutterstock (NYSE:SSTK) from a hold rating to a sell rating in a research report report published on Sunday morning.

A number of other research firms have also recently weighed in on SSTK. Zacks Investment Research upgraded Shutterstock from a hold rating to a buy rating and set a $42.00 price target on the stock in a report on Saturday, November 4th. Cantor Fitzgerald restated a hold rating and issued a $40.00 price target on shares of Shutterstock in a report on Tuesday, October 31st. BidaskClub cut Shutterstock from a sell rating to a strong sell rating in a report on Tuesday, November 7th. Finally, Jefferies Group upped their price target on Shutterstock from $30.00 to $34.00 and gave the stock an underperform rating in a report on Wednesday, November 1st. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $39.17.

Shares of Shutterstock (SSTK) traded up $0.32 during mid-day trading on Friday, hitting $44.71. The stock had a trading volume of 180,725 shares, compared to its average volume of 195,508. The stock has a market cap of $1,540.00, a P/E ratio of 64.80 and a beta of 1.50. Shutterstock has a fifty-two week low of $29.85 and a fifty-two week high of $55.07.

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

In other Shutterstock news, insider Jeffrey Kane Weiser sold 4,449 shares of the stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $38.00, for a total transaction of $169,062.00. Following the sale, the insider now owns 30,500 shares in the company, valued at approximately $1,159,000. The sale was disclosed in a legal filing with the SEC, which is available through this link. 47.30% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio grew its holdings in 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 valued at $754,000 after buying an additional 3,786 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Shutterstock during the third quarter worth $133,000. Dimensional Fund Advisors LP boosted its holdings in shares of Shutterstock by 7.0% during the third quarter. Dimensional Fund Advisors LP now owns 382,635 shares of the business services provider’s stock worth $12,738,000 after purchasing an additional 25,002 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Shutterstock by 41.3% during the third quarter. Wells Fargo & Company MN now owns 22,575 shares of the business services provider’s stock worth $751,000 after purchasing an additional 6,602 shares during the last quarter. Finally, Schroder Investment Management Group acquired a new stake in shares of Shutterstock during the third quarter worth $9,356,000. Hedge funds and other institutional investors own 59.80% 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Shutterstock (NYSE:SSTK)

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