Shutterstock, Inc. (NYSE: SSTK – Get Rating) chief executive Deirdre Mary Bigley sold 426 shares of Shutterstock in a trade on Monday, June 6. The stock was sold at an average price of $60.59, for a total transaction of $25,811.34. As a result of the transaction, the administrator now directly owns 9,528 shares of the company, valued at $577,301.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, accessible via this link.
Shares of NYSE:SSTK traded down $0.17 at midday Tuesday, hitting $60.13. 1,156,929 shares of the company were traded, with an average volume of 329,510. Shutterstock, Inc. has a fifty-two-week low of $55.12 and a fifty-two-week high of $128.36. The stock has a fifty-day simple moving average of $72.63 and a two-hundred-day simple moving average of $89.53. The company has a market capitalization of $2.18 billion, a PE ratio of 25.26, a P/E/G ratio of 2.97 and a beta of 1.26.
Shutterstock (NYSE:SSTK – Get Rating) last released quarterly earnings data on Tuesday, April 26. The business services provider reported EPS of $0.83 for the quarter, beating analyst consensus estimates of $0.59 by $0.24. Shutterstock had a net margin of 11.27% and a return on equity of 22.22%. The company posted revenue of $199.10 million for the quarter, versus analyst estimates of $202.01 million. During the same period last year, the company posted earnings per share of $0.81. The company’s quarterly revenue increased 8.6% year over year. As a group, analysts expect Shutterstock, Inc. to post earnings per share of 2.68 for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 16. Shareholders of record on Thursday, June 2 will receive a dividend of $0.24. The posting date is Wednesday, June 1. This represents an annualized dividend of $0.96 and a yield of 1.60%. Shutterstock’s payout ratio is currently 40.34%.
A number of hedge funds have recently changed their holdings of SSTK. Conestoga Capital Advisors LLC increased its stake in Shutterstock to 94.3% in Q1. Conestoga Capital Advisors LLC now owns 1,087,633 shares of the business services provider valued at $101,237,000 after purchasing an additional 527,928 shares in the last quarter. Invesco Ltd. increased its stake in Shutterstock by 108.1% in the third quarter. Invesco Ltd. now owns 809,001 shares of the business services provider valued at $91,677,000 after purchasing an additional 420,303 shares in the last quarter. BlackRock Inc. increased its position in shares of Shutterstock by 6.8% in the fourth quarter. BlackRock Inc. now owns 3,858,568 shares of the business services provider valued at $427,838,000 after acquiring an additional 246,016 shares during the period. Norges Bank bought a new stock position in Shutterstock in Q4, valued at around $25,053,000. Finally, Hood River Capital Management LLC bought a new position in shares of Shutterstock in Q3, valued at approximately $23,077,000. Hedge funds and other institutional investors own 66.33% of the company’s shares.
SSTK has been the subject of a number of recent analyst reports. StockNews.com launched coverage on Shutterstock shares in a research report on Thursday, March 31. They set a “buy” rating on the stock. Needham & Company LLC cut its price target on Shutterstock shares from $115.00 to $100.00 in a Wednesday, April 27 research report. JMP Securities reissued a “buy” rating and set a price target of $125.00 on shares of Shutterstock in a research report on Thursday, May 26. Finally, Zacks Investment Research downgraded shares of Shutterstock from a “buy” rating to a “hold” rating in a report on Thursday, February 17. One equity research analyst gave the stock a hold rating and four gave the company’s stock a buy rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $113.75.
Shutterstock Company Profile (Get a 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 photography, vector and illustration, which are used in visual communications, such as websites, digital and print marketing materials, corporate communications, books, publications and others ; footage services, including music videos, shot by industry experts and cinema-quality video effects, and HD and 4K formats that are integrated into websites, social media, marketing campaigns and film productions; and music services featuring music tracks and sound effects, which are used to complement images and footage.
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