John Caine Sells 5,439 Shares of Shutterstock, Inc. (NYSE:SSTK) Stock

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

Shutterstock stock opened at $39.24 on Friday. The stock has a 50-day simple moving average of $45.32 and a 200 day simple moving average of $45.05. The stock has a market capitalization of $1.39 billion, a P/E ratio of 15.21 and a beta of 1.13. Shutterstock, Inc. has a 52 week low of $33.80 and a 52 week high of $58.42.

Shutterstock (NYSE:SSTK) last issued its earnings results on Wednesday, February 21st. The business services provider reported $0.46 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $224.04 million. Research analysts forecast that Shutterstock, Inc. will post 3.13 earnings per share for the current year.

Shutterstock Announces Dividend

The business 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. This represents a $1.20 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend is Thursday, May 30th. Shutterstock’s payout ratio is presently 46.51%.

Institutional Trading of Shutterstock

Hedge funds and other institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its position in Shutterstock by 4.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 276,340 shares of the business services provider’s stock worth $10,515,000 after acquiring an additional 11,333 shares during the last quarter. Federated Hermes Inc. increased its position in Shutterstock by 75,482.5% during the 3rd quarter. Federated Hermes Inc. now owns 43,082 shares of the business services provider’s stock worth $1,639,000 after buying an additional 43,025 shares during the period. Hussman Strategic Advisors Inc. lifted its holdings in shares of Shutterstock by 35.5% during the third quarter. Hussman Strategic Advisors Inc. now owns 42,000 shares of the business services provider’s stock worth $1,598,000 after buying an additional 11,000 shares in the last quarter. Schroder Investment Management Group acquired a new stake in shares of Shutterstock during the third quarter worth $7,046,000. Finally, Raymond James & Associates grew its stake in shares of Shutterstock by 13.6% in the fourth quarter. Raymond James & Associates now owns 62,343 shares of the business services provider’s stock valued at $3,010,000 after acquiring an additional 7,447 shares in the last quarter. Institutional investors own 82.79% of the company’s stock.

Analyst Ratings Changes

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

Shutterstock Company 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.