Shutterstock, Inc. (NYSE:SSTK) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC grew its position in Shutterstock, Inc. (NYSE:SSTK) by 4.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 573,128 shares of the business services provider’s stock after purchasing an additional 25,050 shares during the period. Geode Capital Management LLC owned approximately 1.64% of Shutterstock worth $20,275,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Rubric Capital Management LP purchased a new stake in Shutterstock during the 2nd quarter worth approximately $14,769,000. Hotchkis & Wiley Capital Management LLC acquired a new position in shares of Shutterstock during the third quarter valued at $8,493,000. TD Asset Management Inc boosted its position in Shutterstock by 13.7% during the 2nd quarter. TD Asset Management Inc now owns 1,793,925 shares of the business services provider’s stock worth $69,425,000 after acquiring an additional 215,539 shares during the period. Epoch Investment Partners Inc. raised its position in shares of Shutterstock by 22.8% during the 2nd quarter. Epoch Investment Partners Inc. now owns 1,085,539 shares of the business services provider’s stock worth $42,010,000 after buying an additional 201,391 shares in the last quarter. Finally, Rice Hall James & Associates LLC boosted its stake in Shutterstock by 40.7% during the 3rd quarter. Rice Hall James & Associates LLC now owns 529,387 shares of the business services provider’s stock valued at $18,724,000 after purchasing an additional 153,154 shares in the last quarter. Institutional investors and hedge funds own 82.79% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on SSTK shares. Needham & Company LLC reaffirmed a “buy” rating and set a $55.00 price objective on shares of Shutterstock in a research note on Tuesday, October 29th. Morgan Stanley reduced their price objective 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. StockNews.com upgraded Shutterstock from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, Truist Financial reduced their target price on shares of Shutterstock from $65.00 to $56.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th.

Shutterstock Stock Down 1.4 %

NYSE SSTK opened at $30.26 on Friday. The stock’s 50 day simple moving average is $31.44 and its 200 day simple moving average is $34.63. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.42 and a quick ratio of 0.42. The firm has a market cap of $1.05 billion, a PE ratio of 29.67 and a beta of 1.08. Shutterstock, Inc. has a one year low of $28.85 and a one year high of $54.40.

Shutterstock (NYSE:SSTK) last announced its earnings results on Tuesday, October 29th. The business services provider reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.25. Shutterstock had a net margin of 4.03% and a return on equity of 20.39%. The company had revenue of $250.59 million for the quarter, compared to analyst estimates of $240.90 million. During the same period in the prior year, the business earned $0.99 earnings per share. Shutterstock’s quarterly 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 earnings per share for the current fiscal year.

Shutterstock Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were given a $0.30 dividend. 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 3.97%. Shutterstock’s payout ratio is 117.65%.

Shutterstock 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.