Duality Advisers LP Has $581,000 Position in Shutterstock, Inc. (NYSE:SSTK)

Duality Advisers LP lowered its position in shares of Shutterstock, Inc. (NYSE:SSTK) by 71.7% in the fourth quarter, Holdings Channel reports. The firm owned 12,024 shares of the business services provider’s stock after selling 30,519 shares during the period. Duality Advisers LP’s holdings in Shutterstock were worth $581,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of SSTK. Hunter Perkins Capital Management LLC acquired a new position in Shutterstock during the third quarter valued at approximately $333,000. Copeland Capital Management LLC increased its position in shares of Shutterstock by 0.3% during the third quarter. Copeland Capital Management LLC now owns 1,015,828 shares of the business services provider’s stock worth $38,652,000 after acquiring an additional 3,468 shares in the last quarter. Raymond James & Associates increased its position in shares of Shutterstock by 3.6% during the third quarter. Raymond James & Associates now owns 54,896 shares of the business services provider’s stock worth $2,089,000 after acquiring an additional 1,917 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Shutterstock by 20.4% during the third quarter. Bank of New York Mellon Corp now owns 569,594 shares of the business services provider’s stock worth $21,673,000 after acquiring an additional 96,337 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Shutterstock by 28.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,856 shares of the business services provider’s stock worth $223,000 after acquiring an additional 1,282 shares in the last quarter. Institutional investors and hedge funds own 82.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Truist Financial lowered their price objective on shares of Shutterstock from $85.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, February 22nd. StockNews.com downgraded shares of Shutterstock from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 29th. Morgan Stanley assumed 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. Finally, Needham & Company LLC reissued a “buy” rating and set a $60.00 price objective on shares of Shutterstock in a research report on Thursday, February 29th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $62.50.

Shutterstock Trading Down 1.4 %

Shares of SSTK opened at $42.17 on Friday. Shutterstock, Inc. has a 12 month low of $33.80 and a 12 month high of $70.50. The firm has a fifty day simple moving average of $45.70 and a 200 day simple moving average of $44.90. The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of 13.92 and a beta of 1.09.

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

Shutterstock Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 30th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.85%. The ex-dividend date is Thursday, May 30th. Shutterstock’s payout ratio is 39.60%.

Insider Buying and Selling at Shutterstock

In other Shutterstock news, insider John Caine sold 1,974 shares of the 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 sale, the insider now owns 7,413 shares in the company, valued at $320,982.90. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 32.30% of the company’s stock.

Shutterstock 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.