Swiss National Bank Has $879,000 Stake in Shutterstock, Inc. $SSTK

Swiss National Bank lowered its position in Shutterstock, Inc. (NYSE:SSTK) by 3.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 47,200 shares of the business services provider’s stock after selling 1,600 shares during the period. Swiss National Bank owned 0.13% of Shutterstock worth $879,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the stock. Wells Fargo & Company MN grew its holdings in Shutterstock by 30.2% in the fourth quarter. Wells Fargo & Company MN now owns 16,872 shares of the business services provider’s stock worth $512,000 after purchasing an additional 3,910 shares during the period. Raymond James Financial Inc. bought a new stake in Shutterstock in the fourth quarter valued at $1,400,000. Barclays PLC increased its stake in Shutterstock by 11.8% in the fourth quarter. Barclays PLC now owns 56,539 shares of the business services provider’s stock valued at $1,716,000 after purchasing an additional 5,974 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its stake in Shutterstock by 5.7% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 32,254 shares of the business services provider’s stock valued at $979,000 after purchasing an additional 1,745 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in Shutterstock by 5.9% in the fourth quarter. First Trust Advisors LP now owns 150,768 shares of the business services provider’s stock valued at $4,576,000 after purchasing an additional 8,336 shares in the last quarter. Institutional investors and hedge funds own 82.79% of the company’s stock.

Shutterstock Stock Performance

SSTK opened at $20.90 on Wednesday. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.20. The company’s fifty day moving average price is $19.83 and its two-hundred day moving average price is $19.49. Shutterstock, Inc. has a 1-year low of $14.35 and a 1-year high of $38.80. The company has a market cap of $741.23 million, a price-to-earnings ratio of 11.54 and a beta of 0.99.

Shutterstock (NYSE:SSTK) last released its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.46). Shutterstock had a return on equity of 18.42% and a net margin of 6.36%.The business had revenue of $266.99 million for the quarter, compared to analyst estimates of $248.27 million. During the same quarter in the previous year, the company posted $1.00 EPS. The business’s quarterly revenue was up 21.3% on a year-over-year basis. On average, analysts expect that Shutterstock, Inc. will post 3.12 EPS for the current fiscal year.

Shutterstock Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be issued a dividend of $0.33 per share. The ex-dividend date is Thursday, September 4th. This represents a $1.32 annualized dividend and a yield of 6.3%. Shutterstock’s dividend payout ratio is presently 72.93%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on SSTK shares. JMP Securities reaffirmed a “market perform” rating on shares of Shutterstock in a research note on Monday, May 5th. Needham & Company LLC decreased their price target on shares of Shutterstock from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, June 2nd. Finally, Wall Street Zen raised shares of Shutterstock from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $43.67.

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.