Daiwa Securities Group Inc. Sells 4,490 Shares of Shutterstock, Inc. (NYSE:SSTK)

Daiwa Securities Group Inc. lowered its position in shares of Shutterstock, Inc. (NYSE:SSTK) by 78.9% in the 4th quarter, HoldingsChannel reports. The firm owned 1,200 shares of the business services provider’s stock after selling 4,490 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Shutterstock were worth $58,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Louisiana State Employees Retirement System bought a new stake in Shutterstock in the 4th quarter worth approximately $579,000. Mutual of America Capital Management LLC purchased a new position in shares of Shutterstock during the fourth quarter worth approximately $202,000. International Assets Investment Management LLC lifted its holdings in shares of Shutterstock by 4,728.0% in the 4th quarter. International Assets Investment Management LLC now owns 19,312 shares of the business services provider’s stock worth $932,000 after acquiring an additional 18,912 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Shutterstock by 317.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,170 shares of the business services provider’s stock valued at $56,000 after purchasing an additional 890 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Shutterstock by 3.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,243 shares of the business services provider’s stock valued at $1,943,000 after purchasing an additional 1,446 shares during the last quarter. 82.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Shutterstock

In other Shutterstock news, insider John Caine sold 1,974 shares of Shutterstock stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $43.30, for a total transaction of $85,474.20. Following the transaction, the insider now owns 7,413 shares of the company’s stock, valued at $320,982.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 32.30% of the stock is currently owned by corporate insiders.

Shutterstock Price Performance

SSTK opened at $42.36 on Monday. Shutterstock, Inc. has a 1 year low of $33.80 and a 1 year high of $67.76. The stock has a 50-day moving average price of $45.64 and a 200-day moving average price of $45.01. The firm has a market cap of $1.51 billion, a PE ratio of 13.98 and a beta of 1.09.

Shutterstock (NYSE:SSTK) last posted its quarterly earnings results on Wednesday, February 21st. The business services provider reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.13. The firm had revenue of $217.22 million for the quarter, compared to analysts’ expectations of $224.04 million. Shutterstock had a net margin of 12.61% and a return on equity of 23.04%. As a group, sell-side analysts anticipate that Shutterstock, Inc. will post 3.13 EPS for the current year.

Shutterstock Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend is Thursday, May 30th. Shutterstock’s dividend payout ratio (DPR) is currently 39.60%.

Wall Street Analyst Weigh In

SSTK has been the topic of a number of recent research reports. Morgan Stanley initiated coverage on Shutterstock in a research note on Thursday, February 22nd. They set an “equal weight” rating and a $55.00 price objective on the stock. Needham & Company LLC restated a “buy” rating and set a $60.00 price target on shares of Shutterstock in a research report on Thursday, February 29th. Truist Financial lowered their price objective on Shutterstock from $85.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, February 22nd. Finally, StockNews.com cut shares of Shutterstock from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 29th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Shutterstock has an average rating of “Moderate Buy” and a consensus target price of $62.50.

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.