Insider Selling: Shutterstock, Inc. (NYSE:SSTK) Director Sells 426 Shares of Stock

Shutterstock, Inc. (NYSE:SSTKGet Rating) Director Deirdre Mary Bigley sold 426 shares of the company’s stock in a transaction on Monday, June 6th. The stock was sold at an average price of $60.59, for a total transaction of $25,811.34. Following the completion of the transaction, the director now directly owns 9,528 shares in the company, valued at $577,301.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

SSTK stock traded down $0.17 during mid-day trading on Tuesday, reaching $60.13. 1,156,929 shares of the stock traded hands, compared to its average volume of 329,510. Shutterstock, Inc. has a 52 week low of $55.12 and a 52 week high of $128.36. The business has a 50-day moving average of $72.63 and a two-hundred day moving average of $89.53. The firm has a market capitalization of $2.18 billion, a PE ratio of 25.26, a P/E/G ratio of 2.97 and a beta of 1.26.

Shutterstock (NYSE:SSTKGet Rating) last announced its quarterly earnings data on Tuesday, April 26th. The business services provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.24. The business had revenue of $199.10 million during the quarter, compared to analyst estimates of $202.01 million. Shutterstock had a net margin of 11.27% and a return on equity of 22.22%. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.81 earnings per share. Sell-side analysts predict that Shutterstock, Inc. will post 2.68 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 16th. Stockholders of record on Thursday, June 2nd will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend is Wednesday, June 1st. Shutterstock’s dividend payout ratio is currently 40.34%.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Quantbot Technologies LP acquired a new stake in shares of Shutterstock during the first quarter worth approximately $27,000. Allworth Financial LP acquired a new stake in shares of Shutterstock during the first quarter worth approximately $28,000. Lazard Asset Management LLC bought a new position in Shutterstock in the fourth quarter valued at approximately $31,000. Covestor Ltd boosted its stake in Shutterstock by 88.6% in the first quarter. Covestor Ltd now owns 349 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 164 shares during the last quarter. Finally, Point72 Hong Kong Ltd bought a new position in Shutterstock in the fourth quarter valued at approximately $54,000. 66.33% of the stock is owned by institutional investors and hedge funds.

SSTK has been the subject of a number of recent research reports. JMP Securities reiterated a “buy” rating and issued a $125.00 price objective on shares of Shutterstock in a report on Thursday, May 26th. StockNews.com initiated coverage on shares of Shutterstock in a report on Thursday, March 31st. They issued a “buy” rating for the company. Needham & Company LLC decreased their price objective on shares of Shutterstock from $115.00 to $100.00 in a report on Wednesday, April 27th. Finally, Zacks Investment Research cut shares of Shutterstock from a “buy” rating to a “hold” rating in a report on Thursday, February 17th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Shutterstock currently has a consensus rating of “Buy” and an average price target of $113.75.

About Shutterstock (Get Rating)

Shutterstock, Inc, a technology company, provides quality content, and creative workflow solutions in North America, Europe, and internationally. It 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, and 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.

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