BNP Paribas Financial Markets Has $448,000 Stake in Shutterstock, Inc. (NYSE:SSTK)

BNP Paribas Financial Markets decreased its position in shares of Shutterstock, Inc. (NYSE:SSTK) by 71.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,664 shares of the business services provider’s stock after selling 31,347 shares during the quarter. BNP Paribas Financial Markets’ holdings in Shutterstock were worth $448,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Rubric Capital Management LP bought a new stake in Shutterstock during the second quarter worth $14,769,000. Harbor Capital Advisors Inc. raised its stake in shares of Shutterstock by 110.7% during the third quarter. Harbor Capital Advisors Inc. now owns 34,588 shares of the business services provider’s stock valued at $1,223,000 after acquiring an additional 18,174 shares during the last quarter. Federated Hermes Inc. increased its position in Shutterstock by 95.4% during the 2nd quarter. Federated Hermes Inc. now owns 138,719 shares of the business services provider’s stock valued at $5,368,000 after purchasing an additional 67,718 shares during the period. Envestnet Asset Management Inc. grew its stake in 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 purchasing an additional 22,459 shares during the period. Finally, California First Leasing Corp bought a new position in shares of Shutterstock during the second quarter valued at $966,000. Institutional investors and hedge funds own 82.79% of the company’s stock.

Shutterstock Price Performance

Shutterstock stock opened at $32.30 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.42 and a current ratio of 0.42. Shutterstock, Inc. has a 1 year low of $28.85 and a 1 year high of $54.40. The stock has a market capitalization of $1.13 billion, a P/E ratio of 31.67 and a beta of 1.08. The company’s fifty day moving average price is $31.56 and its 200 day moving average price is $35.24.

Shutterstock (NYSE:SSTK) last announced its quarterly 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. The firm had revenue of $250.59 million for the quarter, compared to analysts’ expectations of $240.90 million. Shutterstock had a net margin of 4.03% and a return on equity of 20.39%. The company’s revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.99 EPS. As a group, equities research analysts anticipate that Shutterstock, Inc. will post 3.07 earnings per share for the current fiscal year.

Shutterstock Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Shutterstock Company 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.