Shutterstock (NYSE:SSTK) Downgraded by StockNews.com

Shutterstock (NYSE:SSTK) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Sunday.

SSTK has been the topic of a number of other research reports. Morgan Stanley increased their price objective on Shutterstock from $55.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. Needham & Company LLC reiterated a “buy” rating and issued a $65.00 price objective on shares of Shutterstock in a research report on Tuesday, August 6th.

Shutterstock Price Performance

NYSE:SSTK opened at $35.33 on Friday. The company has a market cap of $1.27 billion, a P/E ratio of 13.69 and a beta of 1.09. The stock’s fifty day moving average price is $37.08 and its two-hundred day moving average price is $40.04. Shutterstock has a 1 year low of $32.38 and a 1 year high of $54.40.

Shutterstock (NYSE:SSTK) last posted its earnings results on Tuesday, August 6th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.01). The company had revenue of $220.05 million for the quarter, compared to analysts’ expectations of $213.44 million. Shutterstock had a return on equity of 20.45% and a net margin of 5.33%. The company’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.76 EPS. On average, analysts expect that Shutterstock will post 3.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. boosted its position in Shutterstock by 3.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 286,729 shares of the business services provider’s stock valued at $13,843,000 after acquiring an additional 10,389 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in Shutterstock in the 4th quarter worth approximately $213,000. Dimensional Fund Advisors LP raised its stake in Shutterstock by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 819,656 shares of the business services provider’s stock valued at $39,574,000 after buying an additional 13,899 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Shutterstock by 0.3% during the 4th quarter. Principal Financial Group Inc. now owns 146,428 shares of the business services provider’s stock valued at $7,070,000 after buying an additional 372 shares during the period. Finally, TD Asset Management Inc lifted its holdings in shares of Shutterstock by 469.3% during the 4th quarter. TD Asset Management Inc now owns 906,391 shares of the business services provider’s stock valued at $43,761,000 after buying an additional 747,180 shares during the period. 82.79% of the stock is owned by institutional investors.

Shutterstock Company Profile

Shutterstock, Inc provides platform to connect brands and businesses to high quality content in North America, Europe, and internationally. The company offers image services consisting of photographs, vectors, and illustrations, which is used in visual communications, such as websites, digital and print marketing materials, corporate communications, books, publications, and others; footage services, including video clips, filmed by industry experts and cinema grade video effects in HD and 4K formats that are integrated into websites, social media, marketing campaigns, and cinematic productions; and music services comprising music tracks and sound effects, which are used to complement images and footage.