Shutterstock, Inc. (NYSE:SSTK) Shares Purchased by SRS Capital Advisors Inc.

SRS Capital Advisors Inc. grew its holdings in shares of Shutterstock, Inc. (NYSE:SSTK) by 433.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 592 shares of the business services provider’s stock after purchasing an additional 481 shares during the period. SRS Capital Advisors Inc.’s holdings in Shutterstock were worth $29,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of SSTK. Charles Schwab Investment Management Inc. raised its stake in 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 acquiring an additional 11,333 shares during the period. Federated Hermes Inc. grew its stake in Shutterstock by 75,482.5% during the 3rd 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 during the last quarter. Hussman Strategic Advisors Inc. grew its stake in Shutterstock by 35.5% during the 3rd 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 during the last quarter. Schroder Investment Management Group acquired a new stake in Shutterstock in the third quarter worth $7,046,000. Finally, Raymond James & Associates lifted its stake in Shutterstock by 13.6% in the fourth quarter. Raymond James & Associates now owns 62,343 shares of the business services provider’s stock valued at $3,010,000 after buying an additional 7,447 shares during the last quarter. 82.79% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Morgan Stanley began coverage on shares of Shutterstock in a report on Thursday, February 22nd. They issued an “equal weight” rating and a $55.00 price objective on the stock. StockNews.com lowered Shutterstock from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 29th. Truist Financial decreased 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. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Shutterstock in a report on Thursday. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $62.50.

Shutterstock Stock Down 6.0 %

Shares of Shutterstock stock opened at $39.24 on Monday. The business has a fifty day simple moving average of $45.32 and a 200-day simple moving average of $45.14. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of 15.21 and a beta of 1.13. Shutterstock, Inc. has a fifty-two week low of $33.80 and a fifty-two week high of $58.42.

Shutterstock (NYSE:SSTK) last posted its quarterly earnings data on Wednesday, February 21st. The business services provider reported $0.46 earnings per share for the quarter, beating 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 company had revenue of $217.22 million during the quarter, compared to analyst estimates of $224.04 million. Analysts anticipate that Shutterstock, Inc. will post 3.13 earnings per share for the current fiscal year.

Shutterstock Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th will be given 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 3.06%. Shutterstock’s dividend payout ratio (DPR) is presently 46.51%.

Insider Activity

In related news, insider John Caine sold 1,974 shares of the company’s stock in a transaction that occurred 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 approximately $320,982.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 32.30% 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.