Shutterstock, Inc. (NYSE:SSTK) Shares Acquired by National Bank of Canada FI

National Bank of Canada FI increased its stake in shares of Shutterstock, Inc. (NYSE:SSTK) by 74.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,549 shares of the business services provider’s stock after acquiring an additional 4,061 shares during the period. National Bank of Canada FI’s holdings in Shutterstock were worth $338,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Truvestments Capital LLC purchased a new stake in Shutterstock in the 3rd quarter worth approximately $31,000. Allspring Global Investments Holdings LLC boosted its holdings in Shutterstock by 31,733.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 955 shares of the business services provider’s stock worth $37,000 after buying an additional 952 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new stake in Shutterstock during the second quarter valued at $41,000. Quarry LP increased its holdings in Shutterstock by 313.0% in the second quarter. Quarry LP now owns 1,111 shares of the business services provider’s stock valued at $43,000 after buying an additional 842 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its position in shares of Shutterstock by 69.6% in the second quarter. Nisa Investment Advisors LLC now owns 2,042 shares of the business services provider’s stock worth $79,000 after acquiring an additional 838 shares during the period. 82.79% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on SSTK. Needham & Company LLC restated a “buy” rating and set a $55.00 target price on shares of Shutterstock in a research report on Tuesday, October 29th. StockNews.com raised Shutterstock from a “hold” rating to a “buy” rating in a report on Monday, December 9th. Morgan Stanley reduced their target price on Shutterstock from $58.00 to $50.00 and set an “equal weight” rating for the company in a research note on Monday, October 21st. Finally, Truist Financial cut their price target on shares of Shutterstock from $65.00 to $56.00 and set a “buy” rating for the company in a report on Wednesday, October 30th.

Shutterstock Stock Performance

NYSE SSTK opened at $32.30 on Monday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.42 and a quick ratio of 0.42. The stock’s 50 day simple moving average is $31.56 and its 200-day simple moving average is $35.22. The company has a market cap of $1.13 billion, a PE ratio of 31.67 and a beta of 1.08. Shutterstock, Inc. has a 1-year low of $28.85 and a 1-year high of $54.40.

Shutterstock (NYSE:SSTK) last announced its earnings results on Tuesday, October 29th. The business services provider reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.25. The company had revenue of $250.59 million for the quarter, compared to analysts’ expectations of $240.90 million. Shutterstock had a net margin of 4.03% and a return on equity of 20.39%. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.99 EPS. As a group, equities research analysts anticipate that Shutterstock, Inc. will post 3.07 EPS for the current fiscal year.

Shutterstock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were issued a $0.30 dividend. The ex-dividend date was Friday, November 29th. This represents a $1.20 dividend on an annualized basis and a yield of 3.72%. Shutterstock’s payout ratio is 117.65%.

About Shutterstock

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.