Shutterstock, Inc. (NYSE:SSTK) Shares Bought by Arizona State Retirement System

Arizona State Retirement System grew its position in shares of Shutterstock, Inc. (NYSE:SSTK – Get Rating) by 3.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 7,104 shares of the business services provider’s stock after purchasing an additional 211 shares during the quarter. Arizona State Retirement System’s holdings in Shutterstock were worth $375,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Fox Run Management L.L.C. acquired a new position in shares of Shutterstock during the 4th quarter valued at $289,000. Quantbot Technologies LP grew its holdings in shares of Shutterstock by 7.3% in the 3rd quarter. Quantbot Technologies LP now owns 20,111 shares of the business services provider’s stock worth $1,008,000 after acquiring an additional 1,362 shares during the last quarter. Aurora Investment Counsel acquired a new position in shares of Shutterstock in the 3rd quarter worth $1,434,000. Ellevest Inc. acquired a new position in shares of Shutterstock in the 3rd quarter worth $62,000. Finally, Epoch Investment Partners Inc. acquired a new position in shares of Shutterstock in the 3rd quarter worth $8,897,000. 70.01% of the stock is currently owned by institutional investors and hedge funds.

Shutterstock Stock Performance

Shutterstock stock opened at $52.11 on Monday. The business’s 50-day simple moving average is $65.81 and its 200-day simple moving average is $62.74. The firm has a market capitalization of $1.88 billion, a PE ratio of 23.06, a PEG ratio of 2.93 and a beta of 1.20. Shutterstock, Inc. has a 52 week low of $44.61 and a 52 week high of $81.23.

Shutterstock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, June 1st will be given a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, May 31st. This represents a $1.08 annualized dividend and a yield of 2.07%. Shutterstock’s dividend payout ratio (DPR) is currently 47.79%.

Insider Buying and Selling

In other Shutterstock news, Chairman Jonathan Oringer sold 2,200 shares of Shutterstock stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $75.10, for a total transaction of $165,220.00. Following the completion of the transaction, the chairman now directly owns 11,549,207 shares of the company’s stock, valued at $867,345,445.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 66,935 shares of company stock valued at $5,104,640 over the last ninety days. 35.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

SSTK has been the topic of a number of recent research reports. Morgan Stanley lifted their target price on Shutterstock from $47.00 to $84.00 and gave the stock an “equal weight” rating in a report on Friday, February 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 target price on shares of Shutterstock in a research report on Monday, March 6th. StockNews.com began coverage on Shutterstock in a research report on Thursday. They set a “buy” rating for the company. Finally, Truist Financial boosted their price target on Shutterstock from $86.00 to $88.00 in a research report on Wednesday, April 26th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Shutterstock presently has an average rating of “Moderate Buy” and a consensus target price of $96.75.

About Shutterstock

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Shutterstock, Inc engages in the provision of a global creative platform for transformative brands and media companies. Its content types include image, footage, music, and editorial. The company was founded by Jonathan Evan Oringer in 2003 and is headquartered in New York, NY.