Top 5 Stock Picks of Benjamin Natter’s Kent Lake Capital

1. Shutterstock, Inc. (NYSE:SSTK)

Kent Lake Capital’s Stake Value: $26,029,000

Percentage of Kent Lake Capital’s 13F Portfolio: 11.19%

Number of Hedge Fund Holders: 19

Shutterstock, Inc. (NYSE:SSTK) is the largest holding in Benjamin Natter’s Q3 portfolio, representing 11.19% of Kent Lake Capital’s total investments. Natter owns a $26 million position in Shutterstock, Inc. (NYSE:SSTK), which is a company offering royalty-free stock photos, illustrations, vector graphics, stock footage, stock music, and editing tools. 

As of the third quarter, 19 hedge funds reported owning stakes in ​​Shutterstock, Inc. (NYSE:SSTK), worth $234.6 million. The largest stakeholder of the company is Jim Simons’ Renaissance Technologies, with over 1 million shares valued at $113.8 million. 

Shutterstock, Inc. (NYSE:SSTK) posted its Q3 results on October 26. EPS in the period totaled $0.70, beating estimated EPS by $0.12. Revenue for the third quarter came in at $194.44 million, up 17.68% year-over-year. 

Following the Q3 earnings beat, Needham analyst Bernie McTernan on October 27 raised the price target on Shutterstock, Inc. (NYSE:SSTK) to $145 from $120 and kept a Buy rating on the shares. 

Here is what Bernzott Capital Advisors has to say about Shutterstock, Inc. (NYSE:SSTK)  in its Q3 2021 investor letter:

“Shutterstock (SSTK): This market share-gaining provider of stock media continues to report solid earnings with gains in its subscription business. It recently formed Shutterstock.AI following the acquisition of several small businesses, and this effort holds promise for advances in data-driven insight and predictive performance.”

You can also take a look at Cathie Wood Stock Portfolio: 10 Newest Stock Picks This Year and Martin Taylor’s Crake Asset Management Portfolio: Top 10 Stock Picks.

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