UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 11,627 Shares of Shutterstock, Inc. (NYSE:SSTK)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its holdings in Shutterstock, Inc. (NYSE:SSTK) by 18.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,746 shares of the business services provider’s stock after selling 11,627 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.15% of Shutterstock worth $1,795,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. FORA Capital LLC bought a new stake in shares of Shutterstock in the 3rd quarter worth approximately $344,000. Blueshift Asset Management LLC purchased a new stake in Shutterstock in the third quarter worth $439,000. FMR LLC raised its stake in shares of Shutterstock by 397.5% in the third quarter. FMR LLC now owns 39,193 shares of the business services provider’s stock valued at $1,386,000 after buying an additional 31,315 shares during the period. Quantbot Technologies LP lifted its position in shares of Shutterstock by 138.8% during the 3rd quarter. Quantbot Technologies LP now owns 29,836 shares of the business services provider’s stock valued at $1,055,000 after buying an additional 17,342 shares during the last quarter. Finally, Truvestments Capital LLC bought a new position in shares of Shutterstock during the 3rd quarter worth $31,000. 82.79% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Shutterstock Trading Down 0.1 %

NYSE SSTK opened at $32.30 on Monday. The firm has a market cap of $1.13 billion, a PE ratio of 31.67 and a beta of 1.08. Shutterstock, Inc. has a 1-year low of $28.85 and a 1-year high of $54.40. The stock has a 50-day moving average of $31.56 and a 200-day moving average of $35.22. 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 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. Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. The firm had revenue of $250.59 million during the quarter, compared to the consensus estimate of $240.90 million. During the same quarter in the previous year, the company posted $0.99 earnings per share. The business’s revenue was up 7.4% on a year-over-year basis. As a group, sell-side analysts forecast that Shutterstock, Inc. will post 3.07 EPS for the current year.

Shutterstock Dividend Announcement

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

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.