Brown Advisory Inc. Makes New $21.24 Million Investment in Shutterstock, Inc. (NYSE:SSTK)

Brown Advisory Inc. bought a new position in shares of Shutterstock, Inc. (NYSE:SSTKFree Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 439,983 shares of the business services provider’s stock, valued at approximately $21,242,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. grew 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 purchasing 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. LSV Asset Management boosted its position in shares of Shutterstock by 46.3% during the 4th quarter. LSV Asset Management now owns 1,370,843 shares of the business services provider’s stock worth $66,184,000 after acquiring an additional 433,906 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. Finally, 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. Institutional investors and hedge funds own 82.79% of the company’s stock.

Insider Activity

In related news, insider John Caine sold 5,439 shares of Shutterstock stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $42.91, for a total transaction of $233,387.49. Following the completion of the transaction, the insider now owns 1,974 shares of the company’s stock, valued at $84,704.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 32.00% of the company’s stock.

Analyst Ratings Changes

SSTK has been the topic of several analyst reports. Truist Financial reduced their price target 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. Morgan Stanley initiated 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. Needham & Company LLC reiterated a “buy” rating and set a $65.00 price target 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 analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $62.50.

Check Out Our Latest Analysis on SSTK

Shutterstock Stock Performance

SSTK stock opened at $41.94 on Monday. The company has a fifty day moving average price of $43.68 and a 200-day moving average price of $45.50. The company has a market capitalization of $1.50 billion, a P/E ratio of 16.26 and a beta of 1.13. Shutterstock, Inc. has a 52-week low of $33.80 and a 52-week high of $58.42.

Shutterstock (NYSE:SSTKGet Free Report) last released its quarterly earnings results on Wednesday, February 21st. The business services provider reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.13. The firm had revenue of $217.22 million during the quarter, compared to the consensus estimate of $224.04 million. Shutterstock had a net margin of 10.71% and a return on equity of 21.14%. As a group, sell-side analysts forecast that Shutterstock, Inc. will post 3.38 earnings per share for the current fiscal year.

Shutterstock Announces Dividend

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 paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend is Thursday, May 30th. Shutterstock’s payout ratio is currently 46.51%.

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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