Regents Of The University Of California Lowers stake in Shutterstock Inc (SSTK)

Shutterstock Inc (SSTK) : Regents Of The University Of California reduced its stake in Shutterstock Inc by 5.0% during the most recent quarter end. The investment management company now holds a total of 51,266 shares of Shutterstock Inc which is valued at $3,132,353 after selling 2,697 shares in Shutterstock Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Shutterstock Inc makes up approximately 9.68% of Regents Of The University Of California’s portfolio.

Other Hedge Funds, Including , Fmr sold out all of its stake in SSTK during the most recent quarter. The investment firm sold 255,500 shares of SSTK which is valued $15,611,050.Blackrock Advisors boosted its stake in SSTK in the latest quarter, The investment management firm added 25,879 additional shares and now holds a total of 34,974 shares of Shutterstock Inc which is valued at $2,136,911.American Century Companies Inc boosted its stake in SSTK in the latest quarter, The investment management firm added 52,675 additional shares and now holds a total of 159,476 shares of Shutterstock Inc which is valued at $8,565,456. Shutterstock Inc makes up approx 0.01% of American Century Companies Inc’s portfolio. Parametrica Management Ltd added SSTK to its portfolio by purchasing 18,983 company shares during the most recent quarter which is valued at $1,011,224. Shutterstock Inc makes up approx 1.44% of Parametrica Management Ltd’s portfolio.

Shutterstock Inc closed down -0.2 points or -0.34% at $57.78 with 5,02,900 shares getting traded on Thursday. Post opening the session at $58.23, the shares hit an intraday low of $57.13 and an intraday high of $59.43 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Shutterstock Inc reported $0.36 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.30. The company had revenue of $124.40 million for the quarter, compared to analysts expectations of $124.29 million. The company’s revenue was up 19.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.31 EPS.

Many Wall Street Analysts have commented on Shutterstock Inc. Company shares were Reiterated by Deutsche Bank on Aug 9, 2016 to “Hold”, Firm has raised the Price Target to $ 56 from a previous price target of $42 .

Shutterstock Inc. (Shutterstock) operates a global marketplace for commercial digital content including images video and music. The Company’s commercial digital imagery consists of licensed photographs illustrations and video clips that companies use in their visual communications such as Websites digital and print marketing materials corporate communications books publications and video content while commercial music consists of music tracks. The demand for commercial digital imagery and music comes from businesses marketing agencies and media organizations. It reaches new customers through a set of marketing channels including online display advertising print advertising tradeshows email marketing direct mail affiliate marketing public relations social media and partnerships. The Company’s online marketplace provides a freely searchable collection of commercial digital imagery and music that its users can pay to license download and incorporate into their work.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *