Shutterstock, Inc. (NYSE:SSTK) Shares Sold by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. lowered its stake in Shutterstock, Inc. (NYSE:SSTK) by 22.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 15,286 shares of the business services provider’s stock after selling 4,551 shares during the period. Avantax Advisory Services Inc.’s holdings in Shutterstock were worth $464,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Truvestments Capital LLC bought a new stake in Shutterstock in the third quarter valued at about $31,000. Amundi increased its holdings in shares of Shutterstock by 26.2% in the 4th quarter. Amundi now owns 2,350 shares of the business services provider’s stock valued at $71,000 after acquiring an additional 488 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Shutterstock by 167.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,499 shares of the business services provider’s stock valued at $76,000 after acquiring an additional 1,565 shares in the last quarter. R Squared Ltd bought a new position in Shutterstock during the fourth quarter worth $108,000. Finally, Palouse Capital Management Inc. boosted its holdings in Shutterstock by 13.7% in the fourth quarter. Palouse Capital Management Inc. now owns 4,357 shares of the business services provider’s stock worth $132,000 after purchasing an additional 525 shares during the period. Institutional investors and hedge funds own 82.79% of the company’s stock.

Analyst Upgrades and Downgrades

SSTK has been the topic of a number of recent research reports. Truist Financial downgraded shares of Shutterstock from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Needham & Company LLC cut their target price on shares of Shutterstock from $45.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, March 7th. StockNews.com began coverage on Shutterstock in a report on Sunday. They set a “hold” rating for the company. Finally, JMP Securities reissued a “market perform” rating on shares of Shutterstock in a report on Monday, January 6th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $45.33.

Shutterstock Trading Up 0.2 %

Shares of NYSE:SSTK opened at $19.55 on Monday. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.23. The company’s 50-day moving average price is $25.96 and its 200 day moving average price is $29.87. The company has a market cap of $682.18 million, a PE ratio of 19.17 and a beta of 1.12. Shutterstock, Inc. has a fifty-two week low of $18.63 and a fifty-two week high of $47.89.

Shutterstock (NYSE:SSTK) last issued its quarterly earnings data on Tuesday, February 25th. The business services provider reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.25). Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. The business had revenue of $250.30 million for the quarter, compared to analyst estimates of $254.16 million. During the same quarter in the prior year, the firm posted $0.72 earnings per share. The business’s quarterly revenue was up 15.2% on a year-over-year basis. Sell-side analysts anticipate that Shutterstock, Inc. will post 3.12 earnings per share for the current year.

Shutterstock Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th were paid a $0.33 dividend. This is a boost from Shutterstock’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $1.32 annualized dividend and a dividend yield of 6.75%. Shutterstock’s dividend payout ratio is presently 130.69%.

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.