Barclays PLC Buys 35,632 Shares of Shutterstock, Inc. (NYSE:SSTK)

Barclays PLC boosted its holdings in shares of Shutterstock, Inc. (NYSE:SSTK) by 238.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 50,565 shares of the business services provider’s stock after purchasing an additional 35,632 shares during the quarter. Barclays PLC owned about 0.15% of Shutterstock worth $1,788,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Truvestments Capital LLC acquired a new stake in Shutterstock during the third quarter worth about $31,000. Allspring Global Investments Holdings LLC lifted its stake in Shutterstock by 31,733.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 955 shares of the business services provider’s stock worth $37,000 after purchasing an additional 952 shares during the period. Quarry LP grew its position in Shutterstock by 313.0% in the second quarter. Quarry LP now owns 1,111 shares of the business services provider’s stock valued at $43,000 after acquiring an additional 842 shares during the period. Headlands Technologies LLC boosted its position in Shutterstock by 1,339.2% in the second quarter. Headlands Technologies LLC now owns 3,339 shares of the business services provider’s stock valued at $129,000 after buying an additional 3,107 shares in the last quarter. Finally, Palouse Capital Management Inc. raised its position in Shutterstock by 20.7% in the 2nd quarter. Palouse Capital Management Inc. now owns 3,877 shares of the business services provider’s stock valued at $150,000 after purchasing an additional 665 shares during the last quarter. Institutional investors own 82.79% of the company’s stock.

Shutterstock Stock Down 1.4 %

Shutterstock stock opened at $30.26 on Friday. The company has a 50 day moving average of $31.44 and a 200-day moving average of $34.66. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.23. Shutterstock, Inc. has a twelve month low of $28.85 and a twelve month high of $54.40. The stock has a market capitalization of $1.05 billion, a PE ratio of 29.67 and a beta of 1.08.

Shutterstock (NYSE:SSTK) last announced its earnings results on Tuesday, October 29th. The business services provider reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.25. Shutterstock had a net margin of 4.03% and a return on equity of 20.39%. The firm had revenue of $250.59 million during the quarter, compared to analyst estimates of $240.90 million. During the same period in the prior year, the business earned $0.99 EPS. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. On average, equities research analysts anticipate that Shutterstock, Inc. will post 3.07 EPS for the current fiscal year.

Shutterstock Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.20 annualized dividend and a dividend yield of 3.97%. Shutterstock’s dividend payout ratio is currently 117.65%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. StockNews.com raised Shutterstock from a “hold” rating to a “buy” rating in a report on Wednesday. Truist Financial reduced their target price on Shutterstock from $65.00 to $56.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Morgan Stanley cut their target price on shares of Shutterstock from $58.00 to $50.00 and set an “equal weight” rating on the stock in a report on Monday, October 21st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $55.00 price target on shares of Shutterstock in a report on Tuesday, October 29th.

Shutterstock 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.