Thrivent Financial for Lutherans Has $772,000 Stock Holdings in Shutterstock, Inc. (NYSE:SSTK)

Thrivent Financial for Lutherans lessened its position in shares of Shutterstock, Inc. (NYSE:SSTK) by 4.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,936 shares of the business services provider’s stock after selling 822 shares during the quarter. Thrivent Financial for Lutherans owned about 0.06% of Shutterstock worth $772,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Truvestments Capital LLC acquired a new position in Shutterstock in the first quarter valued at about $42,000. Allspring Global Investments Holdings LLC lifted its stake in Shutterstock by 31,733.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 955 shares of the business services provider’s stock valued at $37,000 after buying an additional 952 shares during the period. 1620 Investment Advisors Inc. acquired a new position in Shutterstock in the second quarter valued at about $41,000. Nisa Investment Advisors LLC lifted its stake in Shutterstock by 69.6% in the second quarter. Nisa Investment Advisors LLC now owns 2,042 shares of the business services provider’s stock valued at $79,000 after buying an additional 838 shares during the period. Finally, BOKF NA acquired a new position in Shutterstock in the first quarter valued at about $139,000. Institutional investors and hedge funds own 82.79% of the company’s stock.

Analyst Upgrades and Downgrades

SSTK has been the subject of several recent analyst reports. StockNews.com upgraded Shutterstock from a “hold” rating to a “buy” rating in a report on Tuesday, October 1st. Needham & Company LLC restated a “buy” rating and issued a $65.00 price target on shares of Shutterstock in a report on Tuesday, August 6th. Finally, Morgan Stanley increased their price target on Shutterstock from $55.00 to $58.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd.

Shutterstock Stock Performance

NYSE:SSTK opened at $30.83 on Tuesday. The company has a market cap of $1.09 billion, a PE ratio of 11.95 and a beta of 1.09. Shutterstock, Inc. has a 52-week low of $30.54 and a 52-week high of $54.40. The stock has a 50-day simple moving average of $35.38 and a 200 day simple moving average of $38.78.

Shutterstock (NYSE:SSTK) last posted its quarterly earnings results on Tuesday, August 6th. The business services provider reported $1.00 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.01). Shutterstock had a net margin of 5.33% and a return on equity of 20.45%. The company had revenue of $220.05 million during the quarter, compared to the consensus estimate of $213.44 million. During the same quarter in the prior year, the business earned $0.76 earnings per share. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, research analysts predict that Shutterstock, Inc. will post 2.99 earnings per share for the current fiscal year.

Shutterstock Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were issued a dividend of $0.30 per share. The ex-dividend date was Thursday, August 29th. This represents a $1.20 annualized dividend and a yield of 3.89%. Shutterstock’s payout ratio is currently 46.51%.

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.