First Horizon Advisors Inc. Has $43,000 Position in Shutterstock, Inc. (NYSE:SSTK)

First Horizon Advisors Inc. lifted its stake in shares of Shutterstock, Inc. (NYSE:SSTK) by 58.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 894 shares of the business services provider’s stock after purchasing an additional 330 shares during the quarter. First Horizon Advisors Inc.’s holdings in Shutterstock were worth $43,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Shutterstock by 0.5% during the third quarter. Vanguard Group Inc. now owns 2,894,111 shares of the business services provider’s stock worth $110,121,000 after purchasing an additional 14,197 shares during the period. Copeland Capital Management LLC raised its holdings in shares of Shutterstock by 37.3% during the 4th quarter. Copeland Capital Management LLC now owns 1,394,278 shares of the business services provider’s stock valued at $67,316,000 after buying an additional 378,450 shares in the last quarter. Trigran Investments Inc. boosted its position in Shutterstock by 171.7% during the third quarter. Trigran Investments Inc. now owns 1,051,458 shares of the business services provider’s stock valued at $40,008,000 after buying an additional 664,522 shares during the period. Wellington Management Group LLP boosted its stake in shares of Shutterstock by 32.9% during the third quarter. Wellington Management Group LLP now owns 944,543 shares of the business services provider’s stock valued at $35,940,000 after purchasing an additional 234,030 shares during the period. Finally, LSV Asset Management grew its stake in shares of Shutterstock by 3,416.1% in the third quarter. LSV Asset Management now owns 936,937 shares of the business services provider’s stock worth $35,650,000 after purchasing an additional 910,290 shares during the last quarter. Institutional investors own 82.79% of the company’s stock.

Insider Activity at Shutterstock

In related news, insider John Caine sold 5,439 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $42.91, for a total value of $233,387.49. Following the transaction, the insider now directly owns 1,974 shares in the company, valued at approximately $84,704.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 32.30% of the stock is owned by insiders.

Shutterstock Stock Down 1.6 %

NYSE:SSTK opened at $38.66 on Thursday. The stock has a market cap of $1.39 billion, a PE ratio of 14.98 and a beta of 1.13. The firm’s fifty day simple moving average is $44.86 and its 200-day simple moving average is $45.14. Shutterstock, Inc. has a fifty-two week low of $33.80 and a fifty-two week high of $58.42.

Shutterstock (NYSE:SSTK) last posted its earnings results on Wednesday, February 21st. The business services provider reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.13. The business had revenue of $217.22 million for the quarter, compared to analyst estimates of $224.04 million. Shutterstock had a net margin of 10.71% and a return on equity of 21.14%. Equities analysts anticipate that Shutterstock, Inc. will post 3.13 earnings per share for the current year.

Shutterstock Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date is Thursday, May 30th. Shutterstock’s dividend payout ratio (DPR) is presently 46.51%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on SSTK shares. Morgan Stanley initiated coverage on shares of Shutterstock in a report on Thursday, February 22nd. They issued an “equal weight” rating and a $55.00 price objective on the stock. Truist Financial cut their target price on shares of Shutterstock from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Monday. Needham & Company LLC restated a “buy” rating and issued a $60.00 price target on shares of Shutterstock in a report on Thursday, May 2nd. Finally, StockNews.com downgraded Shutterstock from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 29th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $61.25.

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.