Insider Selling: Shutterstock, Inc. (NYSE:SSTK) Insider Sells 1,974 Shares of Stock

Shutterstock, Inc. (NYSE:SSTK) insider John Caine sold 1,974 shares of the company’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $43.30, for a total value of $85,474.20. Following the completion of the transaction, the insider now owns 7,413 shares of the company’s stock, valued at $320,982.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

John Caine also recently made the following trade(s):

• On Monday, February 5th, John Caine sold 5,440 shares of Shutterstock stock. The stock was sold at an average price of $47.20, for a total value of $256,768.00.

Shutterstock Stock Performance

SSTK stock opened at $44.26 on Wednesday. Shutterstock, Inc. has a 1 year low of $33.80 and a 1 year high of $75.96. The firm has a market cap of $1.57 billion, a P/E ratio of 14.61 and a beta of 1.09. The stock has a 50-day simple moving average of $46.79 and a 200-day simple moving average of $44.66.

Shutterstock (NYSE:SSTK) last posted its earnings results on Wednesday, February 21st. The business services provider reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.13. Shutterstock had a return on equity of 23.04% and a net margin of 12.61%. The business had revenue of $217.22 million during the quarter, compared to analyst estimates of $224.04 million. On average, equities research analysts predict that Shutterstock, Inc. will post 3.13 EPS for the current year.

Shutterstock Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Thursday, February 29th were paid a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.71%. This is a positive change from Shutterstock’s previous quarterly dividend of $0.27. Shutterstock’s dividend payout ratio (DPR) is 39.60%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Morgan Stanley assumed coverage on Shutterstock in a research note on Thursday, February 22nd. They set an “equal weight” rating and a $55.00 price target for the company. Truist Financial dropped their price target on Shutterstock from $85.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. StockNews.com lowered Shutterstock from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 29th. Finally, Needham & Company LLC restated a “buy” rating and set a $60.00 price target on shares of Shutterstock in a research note on Thursday, February 29th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $62.50.

Institutional Investors Weigh In On Shutterstock

A number of large investors have recently modified their holdings of SSTK. Quantbot Technologies LP acquired a new stake in shares of Shutterstock in the first quarter valued at about $27,000. SRS Capital Advisors Inc. boosted its holdings in Shutterstock by 433.3% in the fourth quarter. SRS Capital Advisors Inc. now owns 592 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 481 shares during the last quarter. Quarry LP boosted its holdings in Shutterstock by 81.8% in the second quarter. Quarry LP now owns 611 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 275 shares during the last quarter. Covestor Ltd boosted its holdings 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 purchasing an additional 164 shares during the last quarter. Finally, State of Wyoming boosted its holdings in Shutterstock by 93.9% in the second quarter. State of Wyoming now owns 789 shares of the business services provider’s stock valued at $38,000 after purchasing an additional 382 shares during the last quarter. Institutional investors and hedge funds own 82.79% of the company’s stock.

Shutterstock Company Profile

Shutterstock, Inc provides platform to connect brands and businesses to high quality content in North America, Europe, and internationally. The company 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 in 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.