Dimensional Fund Advisors LP Purchases 13,899 Shares of Shutterstock, Inc. (NYSE:SSTK)

Dimensional Fund Advisors LP grew its position in Shutterstock, Inc. (NYSE:SSTKFree Report) by 1.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 819,656 shares of the business services provider’s stock after buying an additional 13,899 shares during the period. Dimensional Fund Advisors LP owned 2.30% of Shutterstock worth $39,574,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Teacher Retirement System of Texas acquired a new stake in Shutterstock in the 4th quarter worth approximately $213,000. Charles Schwab Investment Management Inc. boosted its stake in Shutterstock by 3.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 286,729 shares of the business services provider’s stock worth $13,843,000 after purchasing an additional 10,389 shares in the last quarter. Leuthold Group LLC acquired a new stake in Shutterstock in the 4th quarter worth approximately $3,393,000. LSV Asset Management boosted its stake in Shutterstock by 46.3% in the 4th quarter. LSV Asset Management now owns 1,370,843 shares of the business services provider’s stock worth $66,184,000 after purchasing an additional 433,906 shares in the last quarter. Finally, SRS Capital Advisors Inc. boosted its stake in Shutterstock by 433.3% in the 4th quarter. SRS Capital Advisors Inc. now owns 592 shares of the business services provider’s stock worth $29,000 after purchasing an additional 481 shares in the last quarter. 82.79% of the stock is currently owned by institutional investors.

Shutterstock Stock Performance

Shutterstock stock opened at $40.98 on Friday. Shutterstock, Inc. has a 1 year low of $33.80 and a 1 year high of $58.42. The company’s fifty day moving average price is $41.88 and its 200 day moving average price is $45.30. The stock has a market capitalization of $1.47 billion, a P/E ratio of 15.88 and a beta of 1.13.

Shutterstock (NYSE:SSTKGet Free Report) last announced its earnings results on Thursday, May 2nd. The business services provider reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.16. Shutterstock had a net margin of 10.71% and a return on equity of 21.14%. The company had revenue of $214.32 million for the quarter, compared to analysts’ expectations of $211.03 million. Sell-side analysts predict that Shutterstock, Inc. will post 3.38 EPS for the current year.

Shutterstock Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $1.20 annualized dividend and a yield of 2.93%. Shutterstock’s dividend payout ratio (DPR) is presently 46.51%.

Wall Street Analyst Weigh In

A number of research firms recently commented on SSTK. Morgan Stanley began coverage on shares of Shutterstock in a research note on Thursday, February 22nd. They issued an “equal weight” rating and a $55.00 target price for the company. Needham & Company LLC reissued a “buy” rating and set a $65.00 price target on shares of Shutterstock in a research report on Tuesday, May 14th. StockNews.com lowered shares of Shutterstock from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 29th. Finally, Truist Financial reduced their price target on shares of Shutterstock from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Monday, May 6th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Shutterstock presently has a consensus rating of “Moderate Buy” and an average target price of $62.50.

View Our Latest Stock Report on Shutterstock

Insiders Place Their Bets

In other news, CFO Jarrod Yahes purchased 5,350 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was acquired at an average price of $37.35 per share, for a total transaction of $199,822.50. Following the acquisition, the chief financial officer now directly owns 43,904 shares of the company’s stock, valued at $1,639,814.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Shutterstock news, insider John Caine sold 1,974 shares of Shutterstock stock in a transaction on Friday, April 5th. The stock was sold at an average price of $43.30, for a total value of $85,474.20. Following the sale, the insider now owns 7,413 shares in the company, valued at $320,982.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jarrod Yahes bought 5,350 shares of Shutterstock stock in a transaction on Friday, May 24th. The stock was acquired at an average price of $37.35 per share, for a total transaction of $199,822.50. Following the transaction, the chief financial officer now directly owns 43,904 shares of the company’s stock, valued at $1,639,814.40. The disclosure for this purchase can be found here. 32.00% of the stock is owned by insiders.

About Shutterstock

(Free Report)

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.

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Institutional Ownership by Quarter for Shutterstock (NYSE:SSTK)

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