Shutterstock, Inc. (NYSE:SSTK) Insider John Caine Sells 5,440 Shares

Shutterstock, Inc. (NYSE:SSTKGet Free Report) insider John Caine sold 5,440 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $47.20, for a total transaction of $256,768.00. Following the sale, the insider now directly owns 5,439 shares of the company’s stock, valued at $256,720.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Shutterstock Price Performance

Shares of NYSE:SSTK opened at $43.85 on Thursday. Shutterstock, Inc. has a 1-year low of $33.80 and a 1-year high of $80.79. The firm’s 50 day simple moving average is $47.39 and its two-hundred day simple moving average is $43.45. The company has a market capitalization of $1.57 billion, a P/E ratio of 13.49 and a beta of 1.12.

Shutterstock Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 14th. Investors of record on Thursday, February 29th will be paid a dividend of $0.30 per share. This is an increase from Shutterstock’s previous quarterly dividend of $0.27. The ex-dividend date is Wednesday, February 28th. This represents a $1.20 dividend on an annualized basis and a yield of 2.74%. Shutterstock’s dividend payout ratio is presently 33.23%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SSTK. Quantbot Technologies LP acquired a new position in Shutterstock in the 1st quarter worth approximately $27,000. SRS Capital Advisors Inc. grew its holdings in shares of Shutterstock by 433.3% during the fourth quarter. SRS Capital Advisors Inc. now owns 592 shares of the business services provider’s stock worth $29,000 after buying an additional 481 shares in the last quarter. Quarry LP grew its holdings in shares of Shutterstock by 81.8% during the second quarter. Quarry LP now owns 611 shares of the business services provider’s stock worth $30,000 after buying an additional 275 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Shutterstock during the second quarter worth $33,000. Finally, Covestor Ltd grew its holdings in shares of Shutterstock by 88.6% during the first quarter. Covestor Ltd now owns 349 shares of the business services provider’s stock worth $33,000 after buying an additional 164 shares in the last quarter. Institutional investors own 81.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Needham & Company LLC reduced their price objective on shares of Shutterstock from $76.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, November 1st. Morgan Stanley dropped their price target on shares of Shutterstock from $83.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 1st. Finally, StockNews.com upgraded shares of Shutterstock from a “hold” rating to a “buy” rating in a research note on Wednesday, November 1st. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $66.25.

Check Out Our Latest Analysis on Shutterstock

About Shutterstock

(Get Free Report)

Shutterstock, Inc, a technology company, provides quality content, and creative workflow solutions in North America, Europe, and internationally. It 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, and 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.

Further Reading

Insider Buying and Selling by Quarter for Shutterstock (NYSE:SSTK)

Receive News & Ratings for Shutterstock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shutterstock and related companies with MarketBeat.com's FREE daily email newsletter.