Oregon Public Employees Retirement Fund cut its holdings in shares of Shutterstock, Inc. (NYSE:SSTK – Get Rating) by 2.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,831 shares of the business services provider’s stock after selling 200 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Shutterstock were worth $822,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of the company. Lazard Asset Management LLC purchased a new stake in Shutterstock in the 4th quarter valued at approximately $31,000. Point72 Hong Kong Ltd acquired a new stake in shares of Shutterstock during the 4th quarter valued at approximately $54,000. Fieldpoint Private Securities LLC lifted its position in shares of Shutterstock by 32.1% in the 1st quarter. Fieldpoint Private Securities LLC now owns 659 shares of the business services provider’s stock worth $61,000 after buying an additional 160 shares during the last quarter. Fifth Third Bancorp lifted its position in Shutterstock by 33.4% in the 4th quarter. Fifth Third Bancorp now owns 683 shares of the business services provider’s stock valued at $76,000 after purchasing an additional 171 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in Shutterstock by 66.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,500 shares of the business services provider’s stock valued at $145,000 after buying an additional 600 shares during the period. 66.33% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have commented on SSTK shares. TheStreet downgraded shares of Shutterstock from a “b-” rating to a “c+” rating in a research report on Thursday, June 16th. JMP Securities restated a “buy” rating and issued a $125.00 price objective on shares of Shutterstock in a research report on Thursday, May 26th. Needham & Company LLC reduced their target price on Shutterstock from $115.00 to $100.00 in a report on Wednesday, April 27th. Finally, StockNews.com initiated coverage on Shutterstock in a research report on Thursday, March 31st. They set a “buy” rating on the stock. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $118.33.
SSTK opened at $57.62 on Thursday. The company’s 50 day moving average is $58.54 and its 200-day moving average is $79.64. Shutterstock, Inc. has a 1-year low of $51.68 and a 1-year high of $128.36. The company has a market cap of $2.09 billion, a P/E ratio of 24.21, a PEG ratio of 3.03 and a beta of 1.22.
Shutterstock (NYSE:SSTK – Get Rating) last released its quarterly earnings data on Tuesday, April 26th. The business services provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.24. The company had revenue of $199.10 million during the quarter, compared to analyst estimates of $202.01 million. Shutterstock had a net margin of 11.27% and a return on equity of 22.22%. Shutterstock’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.81 EPS. On average, equities analysts predict that Shutterstock, Inc. will post 2.68 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, June 16th. Investors of record on Thursday, June 2nd were issued a $0.24 dividend. The ex-dividend date of this dividend was Wednesday, June 1st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.67%. Shutterstock’s dividend payout ratio (DPR) is presently 40.34%.
In other news, Director Deirdre Mary Bigley sold 426 shares of Shutterstock stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $60.59, for a total value of $25,811.34. Following the sale, the director now directly owns 9,528 shares in the company, valued at approximately $577,301.52. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Paul J. Hennessy purchased 10,000 shares of the company’s stock in a transaction that occurred on Friday, June 10th. The shares were purchased at an average price of $56.47 per share, for a total transaction of $564,700.00. Following the completion of the transaction, the director now directly owns 31,134 shares of the company’s stock, valued at $1,758,136.98. The disclosure for this purchase can be found here. Insiders own 37.40% of the company’s stock.
Shutterstock Company Profile (Get Rating)
Shutterstock, Inc, a technology company, provides quality content, and creative workflow solutions 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 images and footage.
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