Shutterstock, Inc. (NYSE:SSTK) Given Average Recommendation of “Moderate Buy” by Analysts

Shutterstock, Inc. (NYSE:SSTK) has been given a consensus rating of “Moderate Buy” by the four analysts that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $81.33.

Several equities research analysts have recently issued reports on the stock. Truist Financial lowered their target price on shares of Shutterstock from $88.00 to $85.00 and set a “buy” rating on the stock in a research note on Wednesday, August 2nd. Needham & Company LLC decreased their price target on shares of Shutterstock from $90.00 to $76.00 in a research note on Wednesday, August 2nd. TheStreet lowered shares of Shutterstock from a “b-” rating to a “c+” rating in a research note on Monday, August 7th. StockNews.com initiated coverage on shares of Shutterstock in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Finally, Morgan Stanley decreased their target price on shares of Shutterstock from $88.00 to $83.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 2nd.

Shutterstock Stock Down 0.6 %

SSTK stock opened at $42.11 on Friday. The company’s 50-day simple moving average is $47.45 and its 200-day simple moving average is $58.07. Shutterstock has a 52-week low of $40.61 and a 52-week high of $81.23. The firm has a market cap of $1.52 billion, a P/E ratio of 13.58 and a beta of 1.18.

Shutterstock (NYSE:SSTK) last posted its earnings results on Tuesday, August 1st. The business services provider reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.01). Shutterstock had a return on equity of 25.93% and a net margin of 13.35%. The firm had revenue of $208.84 million for the quarter, compared to analysts’ expectations of $214.46 million. On average, analysts anticipate that Shutterstock will post 2.73 earnings per share for the current fiscal year.

Shutterstock Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Thursday, August 31st will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date is Wednesday, August 30th. Shutterstock’s dividend payout ratio (DPR) is 34.84%.

Insider Transactions at Shutterstock

In other news, Chairman Jonathan Oringer sold 130,465 shares of the firm’s stock in a transaction that occurred on Tuesday, July 11th. The shares were sold at an average price of $53.26, for a total transaction of $6,948,565.90. Following the completion of the sale, the chairman now owns 11,099,354 shares in the company, valued at approximately $591,151,594.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 169,785 shares of company stock worth $8,916,878 in the last 90 days. Insiders own 32.30% of the company’s stock.

Institutional Trading of Shutterstock

Several institutional investors have recently added to or reduced their stakes in the stock. Arizona State Retirement System increased its holdings in Shutterstock by 2.3% in the 1st quarter. Arizona State Retirement System now owns 7,264 shares of the business services provider’s stock valued at $527,000 after purchasing an additional 160 shares during the last quarter. Covestor Ltd lifted its position in shares of Shutterstock by 88.6% during the 1st 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. Marshall Wace LLP lifted its position in shares of Shutterstock by 2.1% during the 4th quarter. Marshall Wace LLP now owns 8,100 shares of the business services provider’s stock worth $427,000 after purchasing an additional 169 shares during the last quarter. Neuberger Berman Group LLC lifted its position in shares of Shutterstock by 6.8% during the 1st quarter. Neuberger Berman Group LLC now owns 3,208 shares of the business services provider’s stock worth $298,000 after purchasing an additional 204 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of Shutterstock by 9.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,505 shares of the business services provider’s stock worth $132,000 after purchasing an additional 207 shares during the last quarter. Institutional investors and hedge funds own 81.68% of the company’s stock.

Shutterstock Company Profile

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.