Shares of Shutterstock, Inc. (NYSE:SSTK – Get Rating) have been assigned an average rating of “Moderate Buy” from the seven brokerages that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $87.33.
SSTK has been the subject of several recent analyst reports. Truist Financial upped their price objective on shares of Shutterstock from $86.00 to $88.00 in a report on Wednesday, April 26th. Needham & Company LLC restated a “buy” rating and set a $90.00 target price on shares of Shutterstock in a research report on Monday, March 6th. Morgan Stanley boosted their target price on shares of Shutterstock from $47.00 to $84.00 and gave the stock an “equal weight” rating in a research note on Friday, February 10th. Finally, StockNews.com assumed coverage on Shutterstock in a research note on Thursday, May 18th. They set a “buy” rating on the stock.
Insider Buying and Selling at Shutterstock
In other Shutterstock news, Chairman Jonathan Oringer sold 52,835 shares of Shutterstock stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $76.55, for a total value of $4,044,519.25. Following the sale, the chairman now owns 11,475,823 shares of the company’s stock, valued at approximately $878,474,250.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 66,935 shares of company stock valued at $5,104,640 in the last 90 days. 35.50% of the stock is currently owned by company insiders.
Institutional Trading of Shutterstock
Shutterstock Stock Down 1.5 %
Shutterstock stock opened at $53.17 on Wednesday. The stock has a market cap of $1.92 billion, a P/E ratio of 23.53, a P/E/G ratio of 2.89 and a beta of 1.20. The company’s fifty day simple moving average is $65.15 and its 200-day simple moving average is $62.85. Shutterstock has a 12 month low of $44.61 and a 12 month high of $81.23.
Shutterstock Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Wednesday, May 31st. This represents a $1.08 annualized dividend and a yield of 2.03%. Shutterstock’s dividend payout ratio (DPR) is currently 47.79%.
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.
- Get a free copy of the StockNews.com research report on Shutterstock (SSTK)
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