Van Berkom Associates Lowers stake in Shutterstock Inc (SSTK)

Shutterstock Inc (SSTK) : Van Berkom Associates reduced its stake in Shutterstock Inc by 15.17% during the most recent quarter end. The investment management company now holds a total of 963,482 shares of Shutterstock Inc which is valued at $51,324,686 after selling 172,264 shares in Shutterstock Inc , the firm said in a disclosure report filed with the SEC on Jul 20, 2016.Shutterstock Inc makes up approximately 2.24% of Van Berkom Associates’s portfolio.

Other Hedge Funds, Including , Copper Rock Capital Partners added SSTK to its portfolio by purchasing 437,374 company shares during the most recent quarter which is valued at $22,957,761. Shutterstock Inc makes up approx 1.67% of Copper Rock Capital Partners’s portfolio. Nordea Investment Management Ab added SSTK to its portfolio by purchasing 11,108 company shares during the most recent quarter which is valued at $583,059.Creative Planning boosted its stake in SSTK in the latest quarter, The investment management firm added 160 additional shares and now holds a total of 260 shares of Shutterstock Inc which is valued at $14,807. Next Financial Group Inc sold out all of its stake in SSTK during the most recent quarter. The investment firm sold 6 shares of SSTK which is valued $287.

Shutterstock Inc closed down -0.01 points or -0.02% at $52.49 with 3,62,034 shares getting traded on Wednesday. Post opening the session at $52.51, the shares hit an intraday low of $52.02 and an intraday high of $52.84 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Shutterstock Inc reported $0.36 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on May 4, 2016. Analyst had a consensus of $0.29. The company had revenue of $116.70 million for the quarter, compared to analysts expectations of $115.85 million. The company’s revenue was up 19.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 EPS.

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.

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