Deutsche Bank AG Acquires 67,729 Shares of Shutterstock, Inc. (NYSE:SSTK)

Deutsche Bank AG increased its holdings in Shutterstock, Inc. (NYSE:SSTK) by 467.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 82,204 shares of the business services provider’s stock after purchasing an additional 67,729 shares during the quarter. Deutsche Bank AG owned approximately 0.24% of Shutterstock worth $2,495,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of SSTK. Franklin Resources Inc. grew its stake in shares of Shutterstock by 6.2% in the third quarter. Franklin Resources Inc. now owns 15,413 shares of the business services provider’s stock worth $545,000 after purchasing an additional 894 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Shutterstock by 14.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 30,270 shares of the business services provider’s stock worth $919,000 after purchasing an additional 3,734 shares during the last quarter. Linden Thomas Advisory Services LLC grew its stake in shares of Shutterstock by 15.4% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 13,424 shares of the business services provider’s stock worth $407,000 after purchasing an additional 1,794 shares during the last quarter. KBC Group NV grew its stake in shares of Shutterstock by 1.5% in the fourth quarter. KBC Group NV now owns 66,069 shares of the business services provider’s stock worth $2,005,000 after purchasing an additional 999 shares during the last quarter. Finally, R Squared Ltd bought a new stake in Shutterstock during the fourth quarter valued at $108,000. Institutional investors own 82.79% of the company’s stock.

Shutterstock Price Performance

Shares of NYSE SSTK opened at $17.90 on Thursday. The firm’s 50-day moving average price is $17.38 and its 200-day moving average price is $25.12. Shutterstock, Inc. has a 1-year low of $14.35 and a 1-year high of $46.10. The firm has a market capitalization of $631.05 million, a P/E ratio of 17.55 and a beta of 1.10. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.23.

Shutterstock (NYSE:SSTK) last announced its quarterly earnings data on Friday, May 2nd. The business services provider reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.23). Shutterstock had a net margin of 4.03% and a return on equity of 20.39%. The company had revenue of $242.62 million for the quarter, compared to analyst estimates of $249.44 million. During the same quarter in the prior year, the company posted $1.13 EPS. Shutterstock’s revenue for the quarter was up 13.2% on a year-over-year basis. Equities research analysts anticipate that Shutterstock, Inc. will post 3.12 earnings per share for the current fiscal year.

Shutterstock Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Thursday, June 5th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 7.37%. Shutterstock’s dividend payout ratio is presently 121.10%.

Analyst Ratings Changes

A number of analysts have commented on SSTK shares. JMP Securities reaffirmed a “market perform” rating on shares of Shutterstock in a research report on Monday, May 5th. Needham & Company LLC cut their price target on shares of Shutterstock from $45.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, March 7th. Truist Financial cut shares of Shutterstock from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Finally, StockNews.com started coverage on shares of Shutterstock in a research report on Wednesday. They set a “buy” rating on the stock. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $45.33.

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.