Shutterstock Inc (NYSE:SSTK) was the recipient of a significant decline in short interest in the month of June. As of June 30th, there was short interest totalling 3,035,000 shares, a decline of 9.7% from the May 30th total of 3,359,400 shares. Currently, 16.3% of the company’s shares are sold short. Based on an average trading volume of 185,000 shares, the days-to-cover ratio is presently 16.4 days.

In other Shutterstock news, Director Deirdre Mary Bigley sold 1,592 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $39.41, for a total value of $62,740.72. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Thomas R. Evans sold 2,500 shares of the business’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $40.29, for a total transaction of $100,725.00. The disclosure for this sale can be found here. 46.80% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Shutterstock by 56.6% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 855 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 309 shares in the last quarter. Zions Bancorporation N.A. bought a new stake in shares of Shutterstock during the 1st quarter valued at about $78,000. NumerixS Investment Technologies Inc bought a new stake in shares of Shutterstock during the 4th quarter valued at about $82,000. Municipal Employees Retirement System of Michigan bought a new stake in shares of Shutterstock during the 4th quarter valued at about $193,000. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of Shutterstock by 876.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 4,354 shares of the business services provider’s stock valued at $203,000 after purchasing an additional 3,908 shares in the last quarter. 57.44% of the stock is currently owned by hedge funds and other institutional investors.

Shares of SSTK traded up $0.57 during trading hours on Friday, reaching $38.90. 159,452 shares of the company traded hands, compared to its average volume of 158,567. The firm has a fifty day moving average price of $38.79. The stock has a market cap of $1.37 billion, a P/E ratio of 37.05, a price-to-earnings-growth ratio of 1.67 and a beta of 1.13. Shutterstock has a 12 month low of $31.77 and a 12 month high of $55.76.

Shutterstock (NYSE:SSTK) last announced its earnings results on Thursday, April 25th. The business services provider reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.04). The company had revenue of $163.33 million for the quarter, compared to the consensus estimate of $166.80 million. Shutterstock had a net margin of 4.68% and a return on equity of 12.99%. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.92 EPS. As a group, equities analysts expect that Shutterstock will post 0.93 EPS for the current year.

A number of equities analysts have issued reports on SSTK shares. Zacks Investment Research cut shares of W. R. Grace & Co from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. SunTrust Banks restated a “buy” rating and issued a $25.00 price objective on shares of Cardlytics in a research report on Tuesday, May 21st. Finally, ValuEngine cut shares of Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. Shutterstock has an average rating of “Hold” and an average target price of $41.00.

Shutterstock Company Profile

Shutterstock, Inc provides digital content, and tools and services in North America, Europe, and internationally. It offers digital imagery services that include licensed photographs, vectors, illustrations, and video clips, which is used in visual communications, such as Websites, digital and print marketing materials, corporate communications, books, publications, and video content; and music services comprising music tracks and sound effects that are used to complement digital imagery.

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