Shutterstock, Inc. (NYSE:SSTK) Shares Purchased by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. grew its position in Shutterstock, Inc. (NYSE:SSTK) by 110.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,588 shares of the business services provider’s stock after buying an additional 18,174 shares during the quarter. Harbor Capital Advisors Inc. owned approximately 0.10% of Shutterstock worth $1,223,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Shutterstock by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 2,926,166 shares of the business services provider’s stock valued at $134,048,000 after buying an additional 47,929 shares in the last quarter. TD Asset Management Inc lifted its stake in shares of Shutterstock by 13.7% in the 2nd quarter. TD Asset Management Inc now owns 1,793,925 shares of the business services provider’s stock valued at $69,425,000 after purchasing an additional 215,539 shares during the period. LSV Asset Management grew its holdings in Shutterstock by 30.9% during the first quarter. LSV Asset Management now owns 1,793,785 shares of the business services provider’s stock valued at $82,173,000 after purchasing an additional 422,942 shares during the period. Epoch Investment Partners Inc. increased its position in shares of Shutterstock by 22.8% in the 2nd quarter. Epoch Investment Partners Inc. now owns 1,085,539 shares of the business services provider’s stock valued at $42,010,000 after buying an additional 201,391 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Shutterstock by 4.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 869,469 shares of the business services provider’s stock worth $33,648,000 after buying an additional 34,243 shares during the period. Institutional investors and hedge funds own 82.79% of the company’s stock.

Shutterstock Trading Up 0.6 %

Shares of SSTK stock opened at $32.74 on Wednesday. The stock has a 50-day moving average of $32.93 and a 200-day moving average of $36.94. Shutterstock, Inc. has a 1-year low of $28.95 and a 1-year high of $54.40. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of 32.10 and a beta of 1.10. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.23.

Shutterstock (NYSE:SSTK) last issued its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.25. Shutterstock had a net margin of 4.03% and a return on equity of 20.39%. The business had revenue of $250.59 million for the quarter, compared to analysts’ expectations of $240.90 million. During the same quarter in the prior year, the firm posted $0.99 earnings per share. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. On average, equities research analysts forecast that Shutterstock, Inc. will post 2.99 earnings per share for the current year.

Shutterstock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.20 annualized dividend and a dividend yield of 3.67%. Shutterstock’s dividend payout ratio is presently 117.65%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on SSTK shares. Morgan Stanley decreased their price objective on Shutterstock from $58.00 to $50.00 and set an “equal weight” rating for the company in a report on Monday, October 21st. Needham & Company LLC reiterated a “buy” rating and issued a $55.00 price target on shares of Shutterstock in a research note on Tuesday, October 29th. StockNews.com cut shares of Shutterstock from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Finally, Truist Financial reduced their price target on Shutterstock from $65.00 to $56.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th.

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.