BNP Paribas Financial Markets Sells 17,554 Shares of Shutterstock, Inc. (NYSE:SSTK)

BNP Paribas Financial Markets cut its holdings in Shutterstock, Inc. (NYSE:SSTK) by 17.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 85,234 shares of the business services provider’s stock after selling 17,554 shares during the period. BNP Paribas Financial Markets owned approximately 0.24% of Shutterstock worth $4,115,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in Shutterstock by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 2,894,111 shares of the business services provider’s stock worth $110,121,000 after acquiring an additional 14,197 shares during the last quarter. Copeland Capital Management LLC lifted its position in Shutterstock by 37.3% during the 4th quarter. Copeland Capital Management LLC now owns 1,394,278 shares of the business services provider’s stock worth $67,316,000 after acquiring an additional 378,450 shares during the last quarter. LSV Asset Management lifted its position in Shutterstock by 46.3% during the 4th quarter. LSV Asset Management now owns 1,370,843 shares of the business services provider’s stock worth $66,184,000 after acquiring an additional 433,906 shares during the last quarter. Trigran Investments Inc. lifted its position in Shutterstock by 171.7% during the 3rd quarter. Trigran Investments Inc. now owns 1,051,458 shares of the business services provider’s stock worth $40,008,000 after acquiring an additional 664,522 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in Shutterstock by 32.9% during the 3rd quarter. Wellington Management Group LLP now owns 944,543 shares of the business services provider’s stock worth $35,940,000 after acquiring an additional 234,030 shares during the last quarter. 82.79% of the stock is currently owned by institutional investors.

Shutterstock Stock Down 2.3 %

NYSE:SSTK opened at $40.56 on Wednesday. Shutterstock, Inc. has a 12-month low of $33.80 and a 12-month high of $58.42. The firm has a market capitalization of $1.45 billion, a PE ratio of 15.72 and a beta of 1.13. The firm has a 50-day moving average price of $43.31 and a 200 day moving average price of $45.50.

Shutterstock (NYSE:SSTK) last posted its quarterly earnings results on Wednesday, February 21st. The business services provider reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.13. Shutterstock had a net margin of 10.71% and a return on equity of 21.14%. The firm had revenue of $217.22 million during the quarter, compared to analyst estimates of $224.04 million. On average, research analysts expect that Shutterstock, Inc. will post 3.38 EPS for the current year.

Shutterstock Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 30th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.96%. The ex-dividend date is Thursday, May 30th. Shutterstock’s dividend payout ratio (DPR) is presently 46.51%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SSTK. StockNews.com lowered shares of Shutterstock from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 29th. Truist Financial cut their price objective on shares of Shutterstock from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Monday, May 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $65.00 price objective on shares of Shutterstock in a research report on Tuesday, May 14th. Finally, Morgan Stanley began coverage on shares of Shutterstock in a research report on Thursday, February 22nd. They set an “equal weight” rating and a $55.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Shutterstock presently has an average rating of “Moderate Buy” and an average price target of $62.50.

Insider Buying and Selling

In other Shutterstock news, insider John Caine sold 5,439 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $42.91, for a total transaction of $233,387.49. Following the sale, the insider now directly owns 1,974 shares of the company’s stock, valued at $84,704.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 32.00% of the company’s stock.

About Shutterstock

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.