Nisa Investment Advisors LLC Has $65,000 Position in Shutterstock, Inc. (NYSE:SSTK)

Nisa Investment Advisors LLC lowered its position in shares of Shutterstock, Inc. (NYSE:SSTKGet Rating) by 53.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 700 shares of the business services provider’s stock after selling 800 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Shutterstock were worth $65,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Allworth Financial LP acquired a new position in Shutterstock during the first quarter valued at approximately $28,000. Lazard Asset Management LLC acquired a new position in shares of Shutterstock in the fourth quarter valued at approximately $31,000. Point72 Hong Kong Ltd acquired a new position in shares of Shutterstock in the fourth quarter valued at approximately $54,000. Fieldpoint Private Securities LLC boosted its holdings in shares of Shutterstock by 32.1% in the first quarter. Fieldpoint Private Securities LLC now owns 659 shares of the business services provider’s stock valued at $61,000 after buying an additional 160 shares during the period. Finally, Fifth Third Bancorp boosted its holdings in shares of Shutterstock by 33.4% in the fourth quarter. Fifth Third Bancorp now owns 683 shares of the business services provider’s stock valued at $76,000 after buying an additional 171 shares during the period. Institutional investors and hedge funds own 66.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. TheStreet cut shares of Shutterstock from a “b-” rating to a “c+” rating in a report on Thursday, June 16th. JMP Securities reduced their price target on shares of Shutterstock from $125.00 to $80.00 and set a “maintains” rating for the company in a report on Wednesday. Morgan Stanley began coverage on shares of Shutterstock in a research report on Thursday. They issued an “equal weight” rating and a $54.00 price objective on the stock. Needham & Company LLC cut their price objective on shares of Shutterstock from $100.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Truist Financial cut their price objective on shares of Shutterstock from $120.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $76.00.

Insider Activity

In related news, Director Paul J. Hennessy acquired 10,000 shares of the company’s stock in a transaction dated Friday, June 10th. The shares were bought at an average cost of $56.47 per share, with a total value of $564,700.00. Following the completion of the transaction, the director now directly owns 31,134 shares of the company’s stock, valued at $1,758,136.98. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Paul J. Hennessy acquired 10,000 shares of the company’s stock in a transaction dated Friday, June 10th. The shares were bought at an average cost of $56.47 per share, with a total value of $564,700.00. Following the completion of the transaction, the director now directly owns 31,134 shares of the company’s stock, valued at $1,758,136.98. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Deirdre Mary Bigley sold 426 shares of the stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $60.59, for a total transaction of $25,811.34. Following the completion of the transaction, the director now directly owns 9,528 shares in the company, valued at $577,301.52. The disclosure for this sale can be found here. Insiders own 35.50% of the company’s stock.

Shutterstock Trading Down 3.5 %

NYSE SSTK opened at $56.50 on Friday. The firm’s fifty day moving average price is $57.71 and its two-hundred day moving average price is $75.53. Shutterstock, Inc. has a 1 year low of $50.04 and a 1 year high of $128.36. The firm has a market capitalization of $2.05 billion, a P/E ratio of 23.74, a price-to-earnings-growth ratio of 2.95 and a beta of 1.22.

Shutterstock (NYSE:SSTKGet Rating) last posted its quarterly earnings results on Tuesday, July 26th. The business services provider reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.12). Shutterstock had a return on equity of 22.22% and a net margin of 11.27%. The firm had revenue of $206.90 million for the quarter, compared to the consensus estimate of $209.17 million. During the same period last year, the company posted $0.82 earnings per share. The business’s revenue was up 9.0% compared to the same quarter last year. On average, research analysts anticipate that Shutterstock, Inc. will post 2.68 EPS for the current fiscal year.

Shutterstock Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Wednesday, August 31st. Shutterstock’s dividend payout ratio (DPR) is currently 40.34%.

Shutterstock Profile

(Get Rating)

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.

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Institutional Ownership by Quarter for Shutterstock (NYSE:SSTK)

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