Janney Montgomery Scott LLC Sells 2,149 Shares of Shutterstock, Inc. (NYSE:SSTK)

Janney Montgomery Scott LLC reduced its position in shares of Shutterstock, Inc. (NYSE:SSTKFree Report) by 9.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,968 shares of the business services provider’s stock after selling 2,149 shares during the period. Janney Montgomery Scott LLC’s holdings in Shutterstock were worth $964,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its holdings in shares of Shutterstock by 4.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 276,340 shares of the business services provider’s stock worth $10,515,000 after buying an additional 11,333 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Shutterstock by 4,728.0% during the fourth quarter. International Assets Investment Management LLC now owns 19,312 shares of the business services provider’s stock worth $932,000 after buying an additional 18,912 shares in the last quarter. Federated Hermes Inc. increased its holdings in shares of Shutterstock by 75,482.5% during the third quarter. Federated Hermes Inc. now owns 43,082 shares of the business services provider’s stock worth $1,639,000 after buying an additional 43,025 shares in the last quarter. Hussman Strategic Advisors Inc. increased its holdings in shares of Shutterstock by 35.5% during the third quarter. Hussman Strategic Advisors Inc. now owns 42,000 shares of the business services provider’s stock worth $1,598,000 after buying an additional 11,000 shares in the last quarter. Finally, Schroder Investment Management Group acquired a new position in shares of Shutterstock during the third quarter worth $7,046,000. 82.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Read Our Latest Stock Report on Shutterstock

Shutterstock Trading Up 7.8 %

Shares of SSTK opened at $40.98 on Friday. The stock has a market capitalization of $1.47 billion, a P/E ratio of 15.88 and a beta of 1.13. The firm’s fifty day simple moving average is $41.88 and its two-hundred day simple moving average is $45.30. Shutterstock, Inc. has a 12 month low of $33.80 and a 12 month high of $58.42.

Shutterstock (NYSE:SSTKGet Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The business services provider reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.16. The business had revenue of $214.32 million for the quarter, compared to analysts’ expectations of $211.03 million. Shutterstock had a net margin of 10.71% and a return on equity of 21.14%. As a group, research analysts predict that Shutterstock, Inc. will post 3.38 EPS for the current fiscal year.

Shutterstock Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $1.20 dividend on an annualized basis and a yield of 2.93%. Shutterstock’s dividend payout ratio (DPR) is currently 46.51%.

Insider Buying and Selling at Shutterstock

In other news, CFO Jarrod Yahes purchased 5,350 shares of the business’s stock in a transaction on Friday, May 24th. The shares were acquired at an average price of $37.35 per share, with a total value of $199,822.50. Following the completion of the transaction, the chief financial officer now owns 43,904 shares of the company’s stock, valued at approximately $1,639,814.40. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider John Caine sold 1,974 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $320,982.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jarrod Yahes acquired 5,350 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were bought at an average cost of $37.35 per share, for a total transaction of $199,822.50. Following the transaction, the chief financial officer now directly owns 43,904 shares in the company, valued at $1,639,814.40. The disclosure for this purchase can be found here. Insiders own 32.00% of the company’s stock.

Shutterstock Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Shutterstock (NYSE:SSTK)

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