First Horizon Advisors Inc. Buys 330 Shares of Shutterstock, Inc. (NYSE:SSTK)

First Horizon Advisors Inc. raised its position in shares of Shutterstock, Inc. (NYSE:SSTK) by 58.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 894 shares of the business services provider’s stock after acquiring an additional 330 shares during the period. First Horizon Advisors Inc.’s holdings in Shutterstock were worth $43,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Fifth Third Bancorp raised its holdings in shares of Shutterstock by 48.7% in the fourth quarter. Fifth Third Bancorp now owns 883 shares of the business services provider’s stock valued at $43,000 after buying an additional 289 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Shutterstock by 7.2% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,387 shares of the business services provider’s stock valued at $395,000 after buying an additional 700 shares in the last quarter. Swiss National Bank raised its position in shares of Shutterstock by 1.5% during the 3rd quarter. Swiss National Bank now owns 55,500 shares of the business services provider’s stock worth $2,112,000 after purchasing an additional 800 shares during the period. Nisa Investment Advisors LLC raised its position in shares of Shutterstock by 317.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,170 shares of the business services provider’s stock worth $56,000 after purchasing an additional 890 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Shutterstock by 47.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,965 shares of the business services provider’s stock worth $113,000 after acquiring an additional 954 shares in the last quarter. 82.79% of the stock is currently owned by institutional investors.

Insider Activity

In other Shutterstock news, insider John Caine sold 5,439 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $42.91, for a total transaction of $233,387.49. Following the completion of the sale, the insider now owns 1,974 shares of the company’s stock, valued at approximately $84,704.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 32.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on SSTK shares. StockNews.com cut Shutterstock from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 29th. Truist Financial reduced their price objective on shares of Shutterstock from $70.00 to $65.00 and set a “buy” rating on the stock in a research note on Monday. Morgan Stanley assumed coverage on shares of Shutterstock in a report on Thursday, February 22nd. They set an “equal weight” rating and a $55.00 price objective for the company. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $60.00 target price on shares of Shutterstock in a research note on Thursday, May 2nd. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.25.

Shutterstock Stock Down 1.6 %

NYSE SSTK opened at $38.66 on Thursday. The business has a fifty day moving average of $44.86 and a 200-day moving average of $45.14. Shutterstock, Inc. has a fifty-two week low of $33.80 and a fifty-two week high of $58.42. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of 14.98 and a beta of 1.13.

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

Shutterstock Announces Dividend

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 issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $1.20 annualized dividend and a dividend yield of 3.10%. Shutterstock’s dividend payout ratio is 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.