Shutterstock, Inc. (NYSE:SSTK) Insider John Caine Sells 5,439 Shares

Shutterstock, Inc. (NYSE:SSTK) insider John Caine sold 5,439 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $42.91, for a total value of $233,387.49. Following the completion of the transaction, the insider now owns 1,974 shares in the company, valued at $84,704.34. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

John Caine also recently made the following trade(s):

• On Friday, April 5th, John Caine sold 1,974 shares of Shutterstock stock. The shares were sold at an average price of $43.30, for a total transaction of $85,474.20.
• On Monday, February 5th, John Caine sold 5,440 shares of Shutterstock stock. The shares were sold at an average price of $47.20, for a total transaction of $256,768.00.

Shutterstock Stock Performance

Shares of SSTK stock opened at $39.24 on Friday. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of 15.21 and a beta of 1.13. Shutterstock, Inc. has a 52-week low of $33.80 and a 52-week high of $58.42. The company has a 50-day simple moving average of $45.32 and a two-hundred day simple moving average of $45.05.

Shutterstock (NYSE:SSTK) last announced its earnings results on Wednesday, February 21st. The business services provider reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.13. The firm had revenue of $217.22 million for the quarter, compared to the consensus estimate of $224.04 million. Shutterstock had a return on equity of 21.14% and a net margin of 10.71%. On average, sell-side analysts forecast that Shutterstock, Inc. will post 3.13 EPS for the current fiscal year.

Shutterstock Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $1.20 dividend on an annualized basis and a yield of 3.06%. Shutterstock’s dividend payout ratio (DPR) is presently 46.51%.

Institutional Investors Weigh In On Shutterstock

Large investors have recently made changes to their positions in the business. Raymond James & Associates grew its position in Shutterstock by 3.6% during the third quarter. Raymond James & Associates now owns 54,896 shares of the business services provider’s stock valued at $2,089,000 after buying an additional 1,917 shares during the period. Bank of New York Mellon Corp boosted its stake in Shutterstock by 20.4% in the third quarter. Bank of New York Mellon Corp now owns 569,594 shares of the business services provider’s stock valued at $21,673,000 after acquiring an additional 96,337 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Shutterstock by 28.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,856 shares of the business services provider’s stock valued at $223,000 after acquiring an additional 1,282 shares during the period. Mackenzie Financial Corp increased its stake in shares of Shutterstock by 22.0% during the 3rd quarter. Mackenzie Financial Corp now owns 12,738 shares of the business services provider’s stock worth $479,000 after purchasing an additional 2,300 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Shutterstock by 43.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,797 shares of the business services provider’s stock valued at $1,476,000 after purchasing an additional 11,747 shares during the last quarter. 82.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Morgan Stanley assumed coverage on shares of Shutterstock in a report on Thursday, February 22nd. They issued an “equal weight” rating and a $55.00 target price on the stock. StockNews.com downgraded Shutterstock from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 29th. Truist Financial dropped their target price on Shutterstock from $85.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, February 22nd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $60.00 price target on shares of Shutterstock in a report on Thursday. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $62.50.

About Shutterstock

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.