Shutterstock, Inc. (NYSE:SSTK) Insider Sells $233,387.49 in Stock

Shutterstock, Inc. (NYSE:SSTK) insider John Caine sold 5,439 shares of Shutterstock stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $42.91, for a total value of $233,387.49. Following the sale, the insider now owns 1,974 shares in the company, valued at $84,704.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

John Caine also recently made the following trade(s):

• On Friday, April 5th, John Caine sold 1,974 shares of Shutterstock stock. The stock was sold at an average price of $43.30, for a total value of $85,474.20.
• On Monday, February 5th, John Caine sold 5,440 shares of Shutterstock stock. The shares were sold at an average price of $47.20, for a total transaction of $256,768.00.

Shutterstock Price Performance

Shares of SSTK stock opened at $39.24 on Friday. Shutterstock, Inc. has a 1 year low of $33.80 and a 1 year high of $58.42. The company’s fifty day simple moving average is $45.32 and its two-hundred day simple moving average is $45.09. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 15.21 and a beta of 1.13.

Shutterstock (NYSE:SSTK) last released its quarterly earnings data on Wednesday, February 21st. The business services provider reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.13. Shutterstock had a return on equity of 21.14% and a net margin of 10.71%. The company had revenue of $217.22 million for the quarter, compared to analyst estimates of $224.04 million. Equities research analysts anticipate that Shutterstock, Inc. will post 3.13 EPS for the current year.

Shutterstock Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th will be given a $0.30 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.06%. Shutterstock’s dividend payout ratio (DPR) is currently 46.51%.

Hedge Funds Weigh In On Shutterstock

Hedge funds have recently bought and sold shares of the company. LSV Asset Management boosted its holdings in Shutterstock by 3,416.1% in the 3rd quarter. LSV Asset Management now owns 936,937 shares of the business services provider’s stock valued at $35,650,000 after purchasing an additional 910,290 shares during the period. TD Asset Management Inc boosted its stake in Shutterstock by 469.3% during the fourth quarter. TD Asset Management Inc now owns 906,391 shares of the business services provider’s stock valued at $43,761,000 after buying an additional 747,180 shares during the period. Trigran Investments Inc. grew its position in Shutterstock by 171.7% during the third quarter. Trigran Investments Inc. now owns 1,051,458 shares of the business services provider’s stock worth $40,008,000 after buying an additional 664,522 shares in the last quarter. Brown Advisory Inc. bought a new position in Shutterstock in the 4th quarter worth about $21,242,000. Finally, Copeland Capital Management LLC increased its stake in Shutterstock by 37.3% in the 4th quarter. Copeland Capital Management LLC now owns 1,394,278 shares of the business services provider’s stock worth $67,316,000 after acquiring an additional 378,450 shares during the last quarter. Hedge funds and other institutional investors own 82.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SSTK. Morgan Stanley initiated coverage on shares of Shutterstock in a research note on Thursday, February 22nd. They issued an “equal weight” rating and a $55.00 target price on the stock. Needham & Company LLC reissued a “buy” rating and set a $60.00 price objective on shares of Shutterstock in a report on Thursday. StockNews.com lowered Shutterstock from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 29th. Finally, Truist Financial decreased their price objective on Shutterstock from $85.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, February 22nd. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Shutterstock currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.50.

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.