Allspring Global Investments Holdings LLC Buys 876 Shares of Shutterstock, Inc. (NYSE:SSTK)

Allspring Global Investments Holdings LLC lifted its stake in Shutterstock, Inc. (NYSE:SSTK) by 3.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,815 shares of the business services provider’s stock after buying an additional 876 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.07% of Shutterstock worth $1,159,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quantbot Technologies LP bought a new stake in Shutterstock during the first quarter worth $27,000. Altshuler Shaham Ltd bought a new stake in Shutterstock during the first quarter worth $29,000. Covestor Ltd increased 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 buying an additional 164 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Shutterstock by 237.3% during the first quarter. Tower Research Capital LLC TRC now owns 560 shares of the business services provider’s stock worth $41,000 after buying an additional 394 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in shares of Shutterstock by 94.0% during the first quarter. Nisa Investment Advisors LLC now owns 908 shares of the business services provider’s stock worth $66,000 after buying an additional 440 shares in the last quarter. 81.68% of the stock is currently owned by institutional investors.

Shutterstock Price Performance

Shares of NYSE:SSTK opened at $41.55 on Wednesday. Shutterstock, Inc. has a 1 year low of $33.80 and a 1 year high of $81.23. The business’s 50-day moving average is $38.66 and its 200-day moving average is $46.22. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of 12.78 and a beta of 1.10.

Shutterstock Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Thursday, November 30th will be given a dividend of $0.27 per share. The ex-dividend date is Wednesday, November 29th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.60%. Shutterstock’s payout ratio is presently 33.23%.

Analyst Ratings Changes

Several brokerages have recently issued reports on SSTK. StockNews.com upgraded shares of Shutterstock from a “hold” rating to a “buy” rating in a report on Wednesday, November 1st. TheStreet downgraded shares of Shutterstock from a “b-” rating to a “c+” rating in a report on Monday, August 7th. Morgan Stanley decreased their price objective on Shutterstock from $83.00 to $55.00 and set an “equal weight” rating for the company in a report on Wednesday, November 1st. Needham & Company LLC decreased their price objective on Shutterstock from $76.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, November 1st. Finally, Redburn Atlantic decreased their price objective on Shutterstock from $84.00 to $65.00 in a report on Tuesday, October 3rd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Shutterstock presently has an average rating of “Moderate Buy” and a consensus target price of $66.25.

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.