Barclays PLC Acquires 35,632 Shares of Shutterstock, Inc. (NYSE:SSTK)

Barclays PLC increased its stake in shares of Shutterstock, Inc. (NYSE:SSTK) by 238.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,565 shares of the business services provider’s stock after purchasing an additional 35,632 shares during the quarter. Barclays PLC owned about 0.15% of Shutterstock worth $1,788,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. The Manufacturers Life Insurance Company grew its position in shares of Shutterstock by 2.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,575 shares of the business services provider’s stock worth $487,000 after buying an additional 309 shares during the period. Cascade Investment Advisors Inc. grew its stake in Shutterstock by 1.2% in the third quarter. Cascade Investment Advisors Inc. now owns 27,430 shares of the business services provider’s stock valued at $970,000 after purchasing an additional 315 shares in the last quarter. Covestor Ltd grew its stake in shares of Shutterstock by 9.5% in the third quarter. Covestor Ltd now owns 4,577 shares of the business services provider’s stock valued at $162,000 after buying an additional 397 shares in the last quarter. Palouse Capital Management Inc. increased its stake in shares of Shutterstock by 20.7% during the 2nd quarter. Palouse Capital Management Inc. now owns 3,877 shares of the business services provider’s stock worth $150,000 after purchasing an additional 665 shares during the last quarter. Finally, Quest Partners LLC increased its position in Shutterstock by 17.9% during the second quarter. Quest Partners LLC now owns 5,406 shares of the business services provider’s stock worth $209,000 after buying an additional 822 shares during the last quarter. 82.79% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Morgan Stanley decreased their target price 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. JMP Securities restated a “market perform” rating on shares of Shutterstock in a research report on Monday, January 6th. Truist Financial dropped their price objective on Shutterstock from $65.00 to $56.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Needham & Company LLC restated a “buy” rating and issued a $55.00 target price on shares of Shutterstock in a research report on Tuesday, October 29th. Finally, StockNews.com lowered Shutterstock from a “buy” rating to a “hold” rating in a research note on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $53.67.

Shutterstock Stock Down 0.3 %

Shares of NYSE SSTK opened at $30.58 on Friday. The stock has a market capitalization of $1.07 billion, a P/E ratio of 29.98 and a beta of 1.08. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.42 and a quick ratio of 0.42. Shutterstock, Inc. has a 1 year low of $28.64 and a 1 year high of $54.40. The company has a 50-day moving average price of $31.46 and a 200-day moving average price of $34.03.

Shutterstock (NYSE:SSTK) last released its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.25. The business 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 firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.99 earnings per share. On average, equities research analysts forecast that Shutterstock, Inc. will post 3.07 EPS 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 issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.92%. The ex-dividend date was Friday, November 29th. Shutterstock’s dividend payout ratio (DPR) is 117.65%.

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.