Zacks Investment Research Lowers Shutterstock (NYSE:SSTK) to Sell

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Zacks Investment Research lowered shares of Shutterstock (NYSE:SSTK) from a hold rating to a sell rating in a report issued on Tuesday morning, Zacks.com reports.

According to Zacks, “Shutterstock, Inc. is a global marketplace for digital imagery. It provides licensed photographs, vectors, illustrations and videos to businesses, marketing agencies and media organizations around the world. The Company’s online marketplace provides a freely searchable library of commercial digital images that the users can pay to license, download and incorporate into their work. Shutterstock, Inc. is headquartered in New York. “

SSTK has been the topic of several other research reports. SunTrust Banks reissued a hold rating and issued a $44.00 price target on shares of Shutterstock in a research note on Monday, August 5th. ValuEngine raised Shutterstock from a sell rating to a hold rating in a research note on Monday.

SSTK opened at $35.32 on Tuesday. The firm has a 50-day moving average price of $38.15. Shutterstock has a 1 year low of $31.77 and a 1 year high of $55.76. The firm has a market cap of $1.22 billion, a P/E ratio of 33.64, a price-to-earnings-growth ratio of 2.34 and a beta of 1.11.

Shutterstock (NYSE:SSTK) last released its quarterly earnings results on Tuesday, August 6th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.02. Shutterstock had a return on equity of 13.64% and a net margin of 5.19%. The firm had revenue of $161.74 million for the quarter, compared to the consensus estimate of $171.93 million. During the same quarter last year, the business posted $0.30 EPS. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. Equities analysts forecast that Shutterstock will post 0.62 earnings per share for the current fiscal year.

In related news, Director Deirdre Mary Bigley sold 1,592 shares of Shutterstock stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $39.41, for a total value of $62,740.72. The transaction was disclosed in a filing with the SEC, which is available at this link. 46.80% of the stock is currently owned by insiders.

Large investors have recently added to or reduced their stakes in the stock. NumerixS Investment Technologies Inc increased its position in shares of Shutterstock by 100.0% in the second quarter. NumerixS Investment Technologies Inc now owns 800 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 400 shares during the last quarter. Zions Bancorporation N.A. acquired a new stake in shares of Shutterstock in the first quarter valued at about $78,000. Aperio Group LLC acquired a new stake in shares of Shutterstock in the second quarter valued at about $87,000. Quantamental Technologies LLC increased its position in shares of Shutterstock by 2,525.0% in the second quarter. Quantamental Technologies LLC now owns 2,625 shares of the business services provider’s stock valued at $103,000 after acquiring an additional 2,525 shares during the last quarter. Finally, BNP Paribas Arbitrage SA increased its position in shares of Shutterstock by 876.2% in the first quarter. BNP Paribas Arbitrage SA now owns 4,354 shares of the business services provider’s stock valued at $203,000 after acquiring an additional 3,908 shares during the last quarter. 57.49% of the stock is currently owned by institutional investors and hedge funds.

Shutterstock Company Profile

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.

Further Reading: Is it better to buy a fund with a higher or lower NAV?

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