Principal Financial Group Inc. boosted its holdings in shares of Shutterstock Inc (NYSE:SSTK) by 2.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 141,150 shares of the business services provider’s stock after acquiring an additional 3,629 shares during the quarter. Principal Financial Group Inc.’s holdings in Shutterstock were worth $6,796,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Federated Investors Inc. PA acquired a new stake in Shutterstock during the first quarter worth $184,000. GSA Capital Partners LLP acquired a new stake in Shutterstock during the first quarter worth $231,000. We Are One Seven LLC acquired a new stake in Shutterstock during the fourth quarter worth $243,000. First Republic Investment Management Inc. acquired a new stake in Shutterstock during the fourth quarter worth $249,000. Finally, Teacher Retirement System of Texas acquired a new stake in Shutterstock during the fourth quarter worth $285,000. 56.11% of the stock is owned by institutional investors.
Get Shutterstock alerts:Shares of Shutterstock opened at $49.85 on Friday, according to MarketBeat.com. Shutterstock Inc has a twelve month low of $29.85 and a twelve month high of $52.78. The firm has a market capitalization of $1.70 billion, a PE ratio of 70.21 and a beta of 1.29.
Shutterstock (NYSE:SSTK) last issued its quarterly earnings data on Thursday, April 26th. The business services provider reported $0.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.04). Shutterstock had a net margin of 7.36% and a return on equity of 7.59%. The firm had revenue of $153.00 million during the quarter, compared to analyst estimates of $150.14 million. During the same period in the previous year, the firm posted $0.19 earnings per share. The company’s quarterly revenue was up 17.5% compared to the same quarter last year. sell-side analysts predict that Shutterstock Inc will post 0.81 EPS for the current fiscal year.
Several research firms have issued reports on SSTK. Zacks Investment Research raised Shutterstock from a “sell” rating to a “hold” rating in a research note on Saturday, March 24th. ValuEngine raised Shutterstock from a “sell” rating to a “hold” rating in a research note on Monday, June 11th. Three research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. Shutterstock has an average rating of “Hold” and a consensus price target of $41.20.
About Shutterstock
Shutterstock, Inc provides content products and services in North America, Europe, and internationally. It offers digital imagery services, which include licensed photographs, vectors, illustrations, and video clips that customers use in their visual communications, such as Websites, digital and print marketing materials, corporate communications, books, publications, and video content; and commercial music services comprising music tracks and sound effects that are used to complement digital imagery.
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