Vanguard Group Inc. Has $88.45 Million Position in Shutterstock, Inc. (NYSE:SSTK)

Vanguard Group Inc. lessened its holdings in Shutterstock, Inc. (NYSE:SSTK) by 0.8% during the 4th quarter, Holdings Channel reports. The firm owned 2,914,311 shares of the business services provider’s stock after selling 22,805 shares during the period. Vanguard Group Inc. owned approximately 0.08% of Shutterstock worth $88,449,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Amundi raised its holdings in Shutterstock by 26.2% in the fourth quarter. Amundi now owns 2,350 shares of the business services provider’s stock worth $71,000 after purchasing an additional 488 shares during the period. Palouse Capital Management Inc. increased its position in shares of Shutterstock by 13.7% during the fourth quarter. Palouse Capital Management Inc. now owns 4,357 shares of the business services provider’s stock worth $132,000 after acquiring an additional 525 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of Shutterstock by 1.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 35,120 shares of the business services provider’s stock worth $1,066,000 after acquiring an additional 532 shares during the period. Franklin Resources Inc. lifted its position in Shutterstock by 6.2% in the 3rd quarter. Franklin Resources Inc. now owns 15,413 shares of the business services provider’s stock valued at $545,000 after acquiring an additional 894 shares in the last quarter. Finally, KBC Group NV boosted its stake in Shutterstock by 1.5% in the 4th quarter. KBC Group NV now owns 66,069 shares of the business services provider’s stock worth $2,005,000 after purchasing an additional 999 shares during the period. 82.79% of the stock is currently owned by institutional investors and hedge funds.

Shutterstock Stock Up 14.2 %

NYSE:SSTK opened at $16.61 on Thursday. Shutterstock, Inc. has a twelve month low of $14.35 and a twelve month high of $46.10. The firm has a market capitalization of $579.59 million, a price-to-earnings ratio of 16.28 and a beta of 1.13. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.23. The stock’s 50 day moving average price is $22.15 and its two-hundred day moving average price is $28.15.

Shutterstock (NYSE:SSTK) last posted its quarterly earnings results on Tuesday, February 25th. The business services provider reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.25). The firm had revenue of $250.30 million for the quarter, compared to the consensus estimate of $254.16 million. Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. The business’s revenue was up 15.2% compared to the same quarter last year. During the same period last year, the company posted $0.72 earnings per share. Equities research analysts expect that Shutterstock, Inc. will post 3.12 earnings per share for the current fiscal year.

Shutterstock Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were issued a $0.33 dividend. This is an increase from Shutterstock’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 7.95%. The ex-dividend date was Thursday, March 6th. Shutterstock’s payout ratio is currently 130.69%.

Analysts Set New Price Targets

Several research firms have recently weighed in on SSTK. Truist Financial cut Shutterstock from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Needham & Company LLC reduced their price target on Shutterstock from $45.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, March 7th. JMP Securities reiterated a “market perform” rating on shares of Shutterstock in a report on Monday, January 6th. Finally, StockNews.com began coverage on shares of Shutterstock in a report on Tuesday. They set a “hold” rating for the company. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $45.33.

Shutterstock Company 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.