Headlands Technologies LLC raised its holdings in shares of Shutterstock, Inc. (NYSE:SSTK – Free Report) by 1,339.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,339 shares of the business services provider’s stock after purchasing an additional 3,107 shares during the period. Headlands Technologies LLC’s holdings in Shutterstock were worth $129,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Allspring Global Investments Holdings LLC grew its holdings in shares of Shutterstock by 31,733.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 955 shares of the business services provider’s stock worth $37,000 after acquiring an additional 952 shares during the period. 1620 Investment Advisors Inc. purchased a new position in shares of Shutterstock during the 2nd quarter worth approximately $41,000. Truvestments Capital LLC purchased a new position in shares of Shutterstock during the 1st quarter worth approximately $42,000. Nisa Investment Advisors LLC grew its holdings in shares of Shutterstock by 69.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,042 shares of the business services provider’s stock worth $79,000 after acquiring an additional 838 shares during the period. Finally, BOKF NA purchased a new position in shares of Shutterstock during the 1st quarter worth approximately $139,000. Institutional investors own 82.79% of the company’s stock.
Shutterstock Stock Up 3.1 %
Shutterstock stock opened at $33.50 on Monday. The company has a market capitalization of $1.19 billion, a P/E ratio of 12.98 and a beta of 1.09. The stock’s 50 day moving average is $37.29 and its 200 day moving average is $40.48. Shutterstock, Inc. has a twelve month low of $32.38 and a twelve month high of $54.40.
Shutterstock Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were paid a dividend of $0.30 per share. The ex-dividend date was Thursday, August 29th. This represents a $1.20 annualized dividend and a yield of 3.58%. Shutterstock’s dividend payout ratio is 46.51%.
Analysts Set New Price Targets
SSTK has been the topic of a number of research analyst reports. StockNews.com upgraded Shutterstock from a “hold” rating to a “buy” rating in a report on Saturday. Needham & Company LLC reiterated a “buy” rating and set a $65.00 target price on shares of Shutterstock in a report on Tuesday, August 6th. Finally, Morgan Stanley upped their target price on Shutterstock from $55.00 to $58.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd.
Read Our Latest Research Report on SSTK
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.
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