Teachers Retirement System of The State of Kentucky Boosts Stake in Shutterstock, Inc. (NYSE:SSTK)

Teachers Retirement System of The State of Kentucky raised its position in shares of Shutterstock, Inc. (NYSE:SSTKGet Rating) by 2.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,397 shares of the business services provider’s stock after acquiring an additional 524 shares during the period. Teachers Retirement System of The State of Kentucky owned approximately 0.07% of Shutterstock worth $2,363,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. D. E. Shaw & Co. Inc. boosted its position in shares of Shutterstock by 25.6% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 87,035 shares of the business services provider’s stock worth $9,650,000 after buying an additional 17,721 shares during the period. Diversified Trust Co boosted its position in shares of Shutterstock by 12.5% in the first quarter. Diversified Trust Co now owns 3,841 shares of the business services provider’s stock worth $358,000 after buying an additional 428 shares during the period. Teacher Retirement System of Texas boosted its position in shares of Shutterstock by 5.1% in the first quarter. Teacher Retirement System of Texas now owns 4,863 shares of the business services provider’s stock worth $453,000 after buying an additional 236 shares during the period. Hardy Reed LLC purchased a new stake in shares of Shutterstock in the first quarter worth about $108,000. Finally, Capital Fund Management S.A. boosted its position in shares of Shutterstock by 37.9% in the first quarter. Capital Fund Management S.A. now owns 22,745 shares of the business services provider’s stock worth $2,117,000 after buying an additional 6,255 shares during the period. Hedge funds and other institutional investors own 70.20% of the company’s stock.

Shutterstock Stock Down 2.4 %

Shares of NYSE SSTK opened at $52.67 on Wednesday. The stock’s 50 day moving average price is $58.31 and its two-hundred day moving average price is $66.96. Shutterstock, Inc. has a 52-week low of $50.04 and a 52-week high of $128.36. The stock has a market capitalization of $1.89 billion, a P/E ratio of 24.84, a PEG ratio of 3.42 and a beta of 1.13.

Shutterstock (NYSE:SSTKGet Rating) last announced its quarterly earnings data on Tuesday, July 26th. The business services provider reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.02. Shutterstock had a return on equity of 21.42% and a net margin of 9.79%. The firm had revenue of $206.90 million for the quarter, compared to analysts’ expectations of $209.17 million. During the same quarter in the prior year, the firm posted $0.82 earnings per share. Shutterstock’s revenue for the quarter was up 9.0% compared to the same quarter last year. On average, analysts anticipate that Shutterstock, Inc. will post 3.15 EPS for the current year.

Shutterstock Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date was Wednesday, August 31st. Shutterstock’s payout ratio is 45.28%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Redburn Partners started coverage on Shutterstock in a research report on Thursday, August 25th. They issued a “buy” rating for the company. Truist Financial cut their price target on Shutterstock from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, July 27th. Needham & Company LLC cut their price target on Shutterstock from $100.00 to $70.00 and set a “buy” rating on the stock in a research note on Wednesday, July 27th. Morgan Stanley started coverage on Shutterstock in a research note on Thursday, July 28th. They issued an “equal weight” rating and a $54.00 price target on the stock. Finally, JMP Securities reiterated a “buy” rating and issued a $125.00 price target on shares of Shutterstock in a research note on Thursday, May 26th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Shutterstock currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.25.

Shutterstock Profile

(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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Institutional Ownership by Quarter for Shutterstock (NYSE:SSTK)

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