SHUTTERSTOCK INC

Ticker: SSTK CUSIP: 825690100 Class: Common Stock

HAMILTON LANE ADVISORS LLC's Holding History (CIK: 0001573767)

Note: Option positions (PUT/CALL) are excluded.

Q1 2017

Shares 15,792 Value ($000) $653 Avg Close $47.66 Range $39.66 - $55.07

Q4 2016

Shares 25,792 Value ($000) $1,226 Avg Close $53.37 Range $44.20 - $64.81

Q3 2016

Shares 35,792 Value ($000) $2,280 Avg Close $57.50 Range $45.01 - $65.16

Q2 2016

Shares 52,062 Value ($000) $2,185 Avg Close $41.32 Range $35.75 - $47.24

Q1 2016

Shares 52,062 Value ($000) $1,912 Avg Close $32.35 Range $25.44 - $37.92

Q4 2015

Shares 87,848 Value ($000) $2,841 Avg Close $32.92 Range $27.50 - $38.86

Q3 2015

Shares 127,848 Value ($000) $3,866 Avg Close $40.16 Range $28.96 - $59.56

Q2 2015

Shares 133,209 Value ($000) $7,811 Avg Close $65.37 Range $57.94 - $74.30

Q1 2015

Shares 161,287 Value ($000) $11,076 Avg Close $60.73 Range $54.46 - $71.66

Q4 2014

Shares 219,525 Value ($000) $15,169 Avg Close $72.53 Range $58.26 - $84.06

Q3 2014

Shares 260,167 Value ($000) $18,571 Avg Close $75.95 Range $69.30 - $86.79

Q2 2014

Shares 138,462 Value ($000) $11,490 Avg Close $72.58 Range $60.01 - $86.84

Q1 2014

Shares 95,992 Value ($000) $6,970 Avg Close $84.48 Range $72.45 - $103.01

Q2 2013

Shares 14,188 Value ($000) $791 Avg Close $45.87 Range $37.37 - $57.49

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2017	15,792	$653	$47.66	$39.66 - $55.07
Q4 2016	25,792	$1,226	$53.37	$44.20 - $64.81
Q3 2016	35,792	$2,280	$57.50	$45.01 - $65.16
Q2 2016	52,062	$2,185	$41.32	$35.75 - $47.24
Q1 2016	52,062	$1,912	$32.35	$25.44 - $37.92
Q4 2015	87,848	$2,841	$32.92	$27.50 - $38.86
Q3 2015	127,848	$3,866	$40.16	$28.96 - $59.56
Q2 2015	133,209	$7,811	$65.37	$57.94 - $74.30
Q1 2015	161,287	$11,076	$60.73	$54.46 - $71.66
Q4 2014	219,525	$15,169	$72.53	$58.26 - $84.06
Q3 2014	260,167	$18,571	$75.95	$69.30 - $86.79
Q2 2014	138,462	$11,490	$72.58	$60.01 - $86.84
Q1 2014	95,992	$6,970	$84.48	$72.45 - $103.01
Q2 2013	14,188	$791	$45.87	$37.37 - $57.49