Swiss National Bank Sells 5,700 Shares of Shutterstock, Inc. (NYSE:SSTK)

Swiss National Bank cut its holdings in shares of Shutterstock, Inc. (NYSE:SSTK) by 10.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,800 shares of the business services provider’s stock after selling 5,700 shares during the quarter. Swiss National Bank owned 0.14% of Shutterstock worth $2,404,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of 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 in the last quarter. Copeland Capital Management LLC boosted its position in shares of 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 in the last quarter. Trigran Investments Inc. boosted its position in shares of 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 in the last quarter. Wellington Management Group LLP boosted its position in shares of 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 in the last quarter. Finally, LSV Asset Management boosted its position in shares of Shutterstock by 3,416.1% during the 3rd quarter. LSV Asset Management now owns 936,937 shares of the business services provider’s stock worth $35,650,000 after acquiring an additional 910,290 shares in the last quarter. Institutional investors and hedge funds own 82.79% of the company’s stock.

Insider Transactions at Shutterstock

In other news, insider John Caine sold 1,974 shares of Shutterstock stock in a transaction on Friday, April 5th. The shares were sold at an average price of $43.30, for a total transaction of $85,474.20. Following the transaction, the insider now owns 7,413 shares in the company, valued at $320,982.90. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 32.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SSTK. 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 target on the stock. Truist Financial cut their target price on shares of Shutterstock from $70.00 to $65.00 and set a “buy” rating on the stock in a research report on Monday, May 6th. Needham & Company LLC restated a “buy” rating and issued a $65.00 target price on shares of Shutterstock in a research report on Tuesday, May 14th. Finally, StockNews.com lowered shares of Shutterstock from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 29th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $62.50.

Shutterstock Price Performance

Shares of Shutterstock stock opened at $37.71 on Friday. The firm has a market capitalization of $1.35 billion, a P/E ratio of 14.62 and a beta of 1.13. The company’s 50 day moving average price is $43.06 and its two-hundred day moving average price is $45.46. Shutterstock, Inc. has a fifty-two week low of $33.80 and a fifty-two week high of $58.42.

Shutterstock (NYSE:SSTK) last issued its quarterly earnings results on Thursday, May 2nd. The business services provider reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.16. The company had revenue of $214.32 million for the quarter, compared to analyst estimates of $211.03 million. Shutterstock had a net margin of 10.71% and a return on equity of 21.14%. On average, analysts expect that Shutterstock, Inc. will post 3.38 earnings per share for the current year.

Shutterstock Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th will be issued a dividend of $0.30 per share. The ex-dividend date is Thursday, May 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.18%. Shutterstock’s dividend payout ratio (DPR) is presently 46.51%.

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.