Shutterstock, Inc. (NYSE:SSTK) Shares Sold by Nordea Investment Management AB

Nordea Investment Management AB lessened its stake in shares of Shutterstock, Inc. (NYSE:SSTK – Get Rating) by 2.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 109,455 shares of the business services provider’s stock after selling 2,188 shares during the quarter. Nordea Investment Management AB owned about 0.31% of Shutterstock worth $5,677,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of SSTK. Quantbot Technologies LP acquired a new stake in shares of Shutterstock during the first quarter worth $27,000. Covestor Ltd boosted 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 purchasing an additional 164 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Shutterstock by 588.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 468 shares of the business services provider’s stock worth $25,000 after purchasing an additional 400 shares during the last quarter. Spire Wealth Management boosted its holdings in Shutterstock by 214.1% in the third quarter. Spire Wealth Management now owns 625 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 426 shares during the last quarter. Finally, Captrust Financial Advisors boosted its holdings in Shutterstock by 470.5% in the first quarter. Captrust Financial Advisors now owns 753 shares of the business services provider’s stock valued at $70,000 after acquiring an additional 621 shares during the last quarter. Institutional investors and hedge funds own 70.01% of the company’s stock.

Shutterstock Price Performance

NYSE:SSTK opened at $54.74 on Thursday. The business’s 50-day moving average is $68.87 and its two-hundred day moving average is $62.51. Shutterstock, Inc. has a 12 month low of $44.61 and a 12 month high of $81.23. The firm has a market capitalization of $1.97 billion, a PE ratio of 24.22, a price-to-earnings-growth ratio of 2.96 and a beta of 1.20.

Shutterstock (NYSE:SSTK – Get Rating) last released its quarterly earnings data on Thursday, February 9th. The business services provider reported $0.72 EPS for the quarter, missing the consensus estimate of $0.82 by ($0.10). Shutterstock had a net margin of 9.76% and a return on equity of 26.63%. The company had revenue of $217.73 million during the quarter, compared to analysts’ expectations of $204.87 million. Equities analysts anticipate that Shutterstock, Inc. will post 3.08 EPS for the current year.

Shutterstock Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend is Wednesday, May 31st. Shutterstock’s payout ratio is 47.79%.

Analysts Set New Price Targets

SSTK has been the topic of a number of research analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 target price on shares of Shutterstock in a report on Monday, March 6th. Truist Financial lifted their target price on Shutterstock from $86.00 to $88.00 in a report on Wednesday, April 26th. StockNews.com initiated coverage on Shutterstock in a report on Thursday, March 16th. They issued a “buy” rating on the stock. TheStreet upgraded Shutterstock from a “c+” rating to a “b-” rating in a report on Tuesday, January 17th. Finally, Morgan Stanley lifted their target price on Shutterstock from $47.00 to $84.00 and gave the company an “equal weight” rating in a report on Friday, February 10th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $96.75.

Insider Transactions at Shutterstock

In other news, CFO Jarrod Yahes sold 7,000 shares of Shutterstock stock in a transaction dated Tuesday, February 14th. The stock was sold at an average price of $77.51, for a total transaction of $542,570.00. Following the sale, the chief financial officer now directly owns 21,341 shares of the company’s stock, valued at $1,654,140.91. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CAO Steven Ciardiello sold 5,600 shares of the business’s stock in a transaction dated Thursday, February 16th. The stock was sold at an average price of $78.00, for a total value of $436,800.00. Following the completion of the sale, the chief accounting officer now directly owns 30,912 shares of the company’s stock, valued at $2,411,136. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Jarrod Yahes sold 7,000 shares of the business’s stock in a transaction dated Tuesday, February 14th. The shares were sold at an average price of $77.51, for a total value of $542,570.00. Following the completion of the sale, the chief financial officer now directly owns 21,341 shares of the company’s stock, valued at $1,654,140.91. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 79,535 shares of company stock valued at $6,084,010. 35.50% of the stock is currently owned by insiders.

About Shutterstock

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Shutterstock, Inc engages in the provision of a global creative platform for transformative brands and media companies. Its content types include image, footage, music, and editorial. The company was founded by Jonathan Evan Oringer in 2003 and is headquartered in New York, NY.