Shutterstock, Inc. (NYSE:SSTK) Receives Average Recommendation of “Buy” from Analysts

Shutterstock, Inc. (NYSE:SSTK) has been assigned a consensus rating of “Buy” from the eight brokerages that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $73.33.

Several research firms have recently commented on SSTK. Zacks Investment Research downgraded shares of Shutterstock from a “buy” rating to a “hold” rating in a report on Tuesday, February 16th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Shutterstock in a report on Wednesday, January 27th. Finally, Needham & Company LLC reaffirmed a “positive” rating and issued a $95.00 price objective on shares of Shutterstock in a report on Friday, February 12th.

NYSE:SSTK opened at $92.90 on Friday. The company has a market cap of $3.37 billion, a PE ratio of 66.84, a P/E/G ratio of 2.05 and a beta of 1.05. Shutterstock has a twelve month low of $33.45 and a twelve month high of $96.50. The company’s 50 day moving average is $89.26 and its two-hundred day moving average is $72.76.

Shutterstock (NYSE:SSTK) last released its quarterly earnings data on Thursday, February 11th. The business services provider reported $0.93 EPS for the quarter, beating the consensus estimate of $0.50 by $0.43. The business had revenue of $180.94 million for the quarter, compared to the consensus estimate of $174.80 million. Shutterstock had a net margin of 7.70% and a return on equity of 15.13%. As a group, research analysts anticipate that Shutterstock will post 1.77 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, March 18th. Investors of record on Thursday, March 4th were paid a $0.21 dividend. This is a boost from Shutterstock’s previous quarterly dividend of $0.17. This represents a $0.84 annualized dividend and a dividend yield of 0.90%. The ex-dividend date was Wednesday, March 3rd. Shutterstock’s payout ratio is currently 113.51%.

In related news, Chairman Jonathan Oringer sold 26,206 shares of the business’s stock in a transaction on Monday, April 5th. The shares were sold at an average price of $93.66, for a total value of $2,454,453.96. Following the completion of the transaction, the chairman now directly owns 13,417,423 shares in the company, valued at approximately $1,256,675,838.18. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Jarrod Yahes sold 22,202 shares of the business’s stock in a transaction on Tuesday, February 16th. The shares were sold at an average price of $86.27, for a total transaction of $1,915,366.54. Following the completion of the transaction, the chief financial officer now owns 37,989 shares of the company’s stock, valued at $3,277,311.03. The disclosure for this sale can be found here. Over the last quarter, insiders sold 215,268 shares of company stock valued at $18,174,871. Company insiders own 46.80% of the company’s stock.

A number of large investors have recently bought and sold shares of SSTK. LPL Financial LLC acquired a new position in Shutterstock during the third quarter worth $239,000. Charles Schwab Investment Management Inc. raised its position in Shutterstock by 10.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 143,519 shares of the business services provider’s stock worth $7,469,000 after acquiring an additional 14,148 shares during the period. State of Tennessee Treasury Department raised its position in Shutterstock by 11.2% during the third quarter. State of Tennessee Treasury Department now owns 12,342 shares of the business services provider’s stock worth $642,000 after acquiring an additional 1,246 shares during the period. Squarepoint Ops LLC raised its position in Shutterstock by 122.3% during the third quarter. Squarepoint Ops LLC now owns 22,385 shares of the business services provider’s stock worth $1,165,000 after acquiring an additional 12,315 shares during the period. Finally, Point72 Asset Management L.P. acquired a new position in Shutterstock during the third quarter worth $1,303,000. Institutional investors own 64.10% of the company’s stock.

About Shutterstock

Shutterstock, Inc, a technology company, provides content, and tools and services in North America, Europe, and internationally. It 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, and 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 digital imagery.

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Analyst Recommendations for Shutterstock (NYSE:SSTK)

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