Shutterstock Inc (SSTK) Position Increased by BNP Paribas Arbitrage SA

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BNP Paribas Arbitrage SA boosted its position in shares of Shutterstock Inc (NYSE:SSTK) by 876.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 4,354 shares of the business services provider’s stock after purchasing an additional 3,908 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Shutterstock were worth $203,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Redmond Asset Management LLC grew its position in Shutterstock by 1.9% during the 1st quarter. Redmond Asset Management LLC now owns 12,972 shares of the business services provider’s stock valued at $605,000 after purchasing an additional 237 shares during the last quarter. Thrivent Financial for Lutherans grew its position in Shutterstock by 2.2% during the 4th quarter. Thrivent Financial for Lutherans now owns 13,224 shares of the business services provider’s stock valued at $476,000 after purchasing an additional 290 shares during the last quarter. Bronfman E.L. Rothschild L.P. grew its position in Shutterstock by 56.6% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 855 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 309 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Shutterstock by 56.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,324 shares of the business services provider’s stock valued at $48,000 after purchasing an additional 476 shares during the last quarter. Finally, Texas Permanent School Fund grew its position in Shutterstock by 4.2% during the 4th quarter. Texas Permanent School Fund now owns 12,152 shares of the business services provider’s stock valued at $438,000 after purchasing an additional 492 shares during the last quarter. 54.95% of the stock is currently owned by institutional investors.

Shares of SSTK stock opened at $38.68 on Friday. The stock has a market cap of $1.36 billion, a P/E ratio of 36.84, a PEG ratio of 1.64 and a beta of 1.21. Shutterstock Inc has a one year low of $31.77 and a one year high of $55.76.

Shutterstock (NYSE:SSTK) last posted its earnings results on Thursday, April 25th. The business services provider reported $0.25 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.04). The company had revenue of $163.33 million for the quarter, compared to the consensus estimate of $166.80 million. Shutterstock had a net margin of 4.68% and a return on equity of 12.99%. Shutterstock’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.92 EPS. As a group, equities analysts predict that Shutterstock Inc will post 0.95 earnings per share for the current fiscal year.

Several analysts recently commented on the stock. Zacks Investment Research raised shares of Shutterstock from a “sell” rating to a “hold” rating in a research report on Friday, April 5th. SunTrust Banks reissued a “hold” rating and set a $44.00 price objective on shares of Shutterstock in a research report on Tuesday, May 21st. One analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. Shutterstock presently has a consensus rating of “Hold” and a consensus price target of $41.00.

In other Shutterstock news, insider Martin Brodbeck sold 5,677 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $46.48, for a total transaction of $263,866.96. Following the transaction, the insider now owns 41,619 shares in the company, valued at approximately $1,934,451.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas R. Evans sold 2,500 shares of the company’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $40.29, for a total transaction of $100,725.00. The disclosure for this sale can be found here. 46.80% of the stock is currently owned by corporate insiders.

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About Shutterstock

Shutterstock, Inc provides digital content, and tools and services in North America, Europe, and internationally. It offers digital imagery services that include licensed photographs, vectors, illustrations, and video clips, which is used in visual communications, such as Websites, digital and print marketing materials, corporate communications, books, publications, and video content; and music services comprising music tracks and sound effects that are used to complement digital imagery.

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Want to see what other hedge funds are holding SSTK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shutterstock Inc (NYSE:SSTK).

Institutional Ownership by Quarter for Shutterstock (NYSE:SSTK)

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