Linden Thomas Advisory Services LLC Raises Position in Shutterstock, Inc. (NYSE:SSTK)

Linden Thomas Advisory Services LLC raised its stake in shares of Shutterstock, Inc. (NYSE:SSTK) by 15.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,424 shares of the business services provider’s stock after purchasing an additional 1,794 shares during the period. Linden Thomas Advisory Services LLC’s holdings in Shutterstock were worth $407,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SSTK. Truvestments Capital LLC purchased a new stake in shares of Shutterstock in the third quarter worth approximately $31,000. Quarry LP raised its holdings in shares of Shutterstock by 313.0% in the second quarter. Quarry LP now owns 1,111 shares of the business services provider’s stock worth $43,000 after buying an additional 842 shares during the period. Covestor Ltd raised its holdings in shares of Shutterstock by 9.5% in the third quarter. Covestor Ltd now owns 4,577 shares of the business services provider’s stock worth $162,000 after buying an additional 397 shares during the period. AXA S.A. raised its holdings in shares of Shutterstock by 38.4% in the second quarter. AXA S.A. now owns 6,377 shares of the business services provider’s stock worth $247,000 after buying an additional 1,768 shares during the period. Finally, Moors & Cabot Inc. purchased a new stake in shares of Shutterstock in the third quarter worth approximately $284,000. 82.79% of the stock is currently owned by hedge funds and other institutional investors.

Shutterstock Stock Performance

NYSE SSTK opened at $29.21 on Monday. The stock has a 50-day simple moving average of $31.03 and a two-hundred day simple moving average of $33.58. The firm has a market capitalization of $1.02 billion, a P/E ratio of 28.64 and a beta of 1.08. Shutterstock, Inc. has a fifty-two week low of $27.30 and a fifty-two week high of $54.40. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.42 and a current ratio of 0.42.

Shutterstock (NYSE:SSTK) last released its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.25. The business had revenue of $250.59 million during the quarter, compared to analyst estimates of $240.90 million. Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. The company’s revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the business posted $0.99 EPS. On average, equities analysts forecast that Shutterstock, Inc. will post 3.12 earnings per share for the current year.

Analysts Set New Price Targets

SSTK has been the topic of several recent analyst reports. StockNews.com initiated coverage on Shutterstock in a report on Sunday. They issued a “hold” rating on the stock. Truist Financial reduced their price target on Shutterstock from $65.00 to $56.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Morgan Stanley dropped their price objective on Shutterstock from $58.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Monday, October 21st. JMP Securities reissued a “market perform” rating on shares of Shutterstock in a research note on Monday, January 6th. Finally, Needham & Company LLC dropped their price objective on Shutterstock from $55.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Shutterstock currently has a consensus rating of “Hold” and a consensus target price of $50.33.

About Shutterstock

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.