Shutterstock, Inc. (NYSE:SSTK) Shares Bought by Fmr LLC

Fmr LLC grew its holdings in Shutterstock, Inc. (NYSE:SSTK) by 397.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,193 shares of the business services provider’s stock after purchasing an additional 31,315 shares during the period. Fmr LLC owned approximately 0.11% of Shutterstock worth $1,386,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Rubric Capital Management LP purchased a new stake in shares of Shutterstock in the second quarter valued at $14,769,000. Harbor Capital Advisors Inc. increased its stake in shares of Shutterstock by 110.7% in the third quarter. Harbor Capital Advisors Inc. now owns 34,588 shares of the business services provider’s stock worth $1,223,000 after acquiring an additional 18,174 shares during the last quarter. Federated Hermes Inc. increased its stake in shares of Shutterstock by 95.4% in the second quarter. Federated Hermes Inc. now owns 138,719 shares of the business services provider’s stock worth $5,368,000 after acquiring an additional 67,718 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Shutterstock by 13.9% in the second quarter. Envestnet Asset Management Inc. now owns 184,300 shares of the business services provider’s stock worth $7,132,000 after acquiring an additional 22,459 shares during the last quarter. Finally, California First Leasing Corp acquired a new position in shares of Shutterstock in the second quarter worth $966,000. Hedge funds and other institutional investors own 82.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SSTK. Needham & Company LLC reaffirmed a “buy” rating and issued a $55.00 price target on shares of Shutterstock in a research note on Tuesday, October 29th. Truist Financial dropped their price target on shares of Shutterstock from $65.00 to $56.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Morgan Stanley lowered their target price on shares of Shutterstock from $58.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Monday, October 21st. Finally, StockNews.com raised shares of Shutterstock from a “hold” rating to a “buy” rating in a research report on Monday, December 9th.

Shutterstock Stock Down 0.1 %

SSTK stock opened at $32.30 on Monday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.42 and a quick ratio of 0.42. Shutterstock, Inc. has a 52-week low of $28.85 and a 52-week high of $54.40. The company has a 50-day moving average of $31.56 and a two-hundred day moving average of $35.22. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of 31.67 and a beta of 1.08.

Shutterstock (NYSE:SSTK) last released its earnings results on Tuesday, October 29th. The business services provider reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.25. Shutterstock had a net margin of 4.03% and a return on equity of 20.39%. The business had revenue of $250.59 million during the quarter, compared to analysts’ expectations of $240.90 million. During the same quarter last year, the company earned $0.99 earnings per share. The firm’s revenue was up 7.4% on a year-over-year basis. As a group, equities research analysts anticipate that Shutterstock, Inc. will post 3.07 EPS for the current year.

Shutterstock Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date of this dividend was Friday, November 29th. Shutterstock’s dividend payout ratio is 117.65%.

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.