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Shutterstock Slides on Founder's Stock Sale

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By Christiana Sciaudone

Investing.com -- Shutterstock (NYSE:SSTK)'s stock shuddered after the company announced a $250 million share offering, including $200 million of shares sold by founder Jon Oringer.

The stock fell 12%, to around $50.58.

Last week, the shares rallied to their highest in two years.

In July, the digital stock image company reported earnings per share of 62 cents, beating the 26-cent estimate on sales of $159.2 million, higher than the expected $149.9 million.

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