ProShare Advisors LLC Has $38.86 Million Holdings in Shutterstock, Inc. (NYSE:SSTK)


Share on StockTwits

ProShare Advisors LLC boosted its position in Shutterstock, Inc. (NYSE:SSTK) by 51.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 541,933 shares of the business services provider’s stock after buying an additional 185,203 shares during the quarter. ProShare Advisors LLC owned approximately 1.50% of Shutterstock worth $38,857,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Point72 Hong Kong Ltd bought a new position in shares of Shutterstock during the 3rd quarter worth about $25,000. Parallel Advisors LLC grew its holdings in Shutterstock by 42.8% during the third quarter. Parallel Advisors LLC now owns 524 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 157 shares during the period. Altshuler Shaham Ltd bought a new position in Shutterstock in the third quarter valued at approximately $50,000. Nisa Investment Advisors LLC lifted its stake in Shutterstock by 60.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,300 shares of the business services provider’s stock valued at $93,000 after buying an additional 490 shares in the last quarter. Finally, Winslow Evans & Crocker Inc. bought a new stake in shares of Shutterstock in the fourth quarter worth $120,000. 64.10% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages recently weighed in on SSTK. Zacks Investment Research downgraded shares of Shutterstock from a “buy” rating to a “hold” rating in a report on Tuesday, February 16th. Needham & Company LLC restated a “positive” rating and issued a $95.00 price target on shares of Shutterstock in a research note on Friday, February 12th. JMP Securities upped their price objective on shares of Shutterstock from $72.00 to $85.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 28th. Truist increased their target price on shares of Shutterstock from $60.00 to $75.00 in a report on Wednesday, October 28th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $85.00 price objective on shares of Shutterstock in a report on Wednesday, January 27th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Shutterstock has a consensus rating of “Buy” and an average target price of $76.57.

In other news, CFO Jarrod Yahes sold 22,202 shares of Shutterstock stock in a transaction on Tuesday, February 16th. The stock was sold at an average price of $86.27, for a total value of $1,915,366.54. Following the transaction, the chief financial officer now directly owns 37,989 shares in the company, valued at approximately $3,277,311.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Jonathan Oringer sold 30,074 shares of the business’s stock in a transaction on Monday, February 1st. The stock was sold at an average price of $65.12, for a total value of $1,958,418.88. Following the transaction, the chairman now owns 13,514,607 shares in the company, valued at $880,071,207.84. The disclosure for this sale can be found here. Insiders have sold 150,758 shares of company stock valued at $10,794,728 in the last quarter. 46.80% of the stock is currently owned by company insiders.

Shares of SSTK stock opened at $92.40 on Tuesday. Shutterstock, Inc. has a fifty-two week low of $28.76 and a fifty-two week high of $96.50. The stock has a 50 day moving average price of $73.99 and a two-hundred day moving average price of $63.92. The company has a market capitalization of $3.35 billion, a P/E ratio of 66.48, a PEG ratio of 2.05 and a beta of 1.05.

Shutterstock (NYSE:SSTK) last issued its quarterly earnings results on Thursday, February 11th. The business services provider reported $0.93 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.43. Shutterstock had a return on equity of 15.13% and a net margin of 7.70%. On average, equities analysts forecast that Shutterstock, Inc. will post 1.77 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 18th. Investors of record on Thursday, March 4th will be given a dividend of $0.21 per share. The ex-dividend date is Wednesday, March 3rd. This represents a $0.84 annualized dividend and a dividend yield of 0.91%. This is a boost from Shutterstock’s previous quarterly dividend of $0.17. Shutterstock’s dividend payout ratio (DPR) is currently 91.89%.

Shutterstock Company Profile

Shutterstock, Inc, a technology company, provides content, and tools and services 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 digital imagery.

Recommended Story: Hang Seng Index (HSI)

Want to see what other hedge funds are holding SSTK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shutterstock, Inc. (NYSE:SSTK).

Institutional Ownership by Quarter for Shutterstock (NYSE:SSTK)

Receive News & Ratings for Shutterstock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shutterstock and related companies with MarketBeat.com's FREE daily email newsletter.