Shutterstock, Inc. (NYSE:SSTK) Shares Sold by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. cut its position in shares of Shutterstock, Inc. (NYSE:SSTK) by 22.9% during the 4th quarter, Holdings Channel reports. The firm owned 15,286 shares of the business services provider’s stock after selling 4,551 shares during the period. Avantax Advisory Services Inc.’s holdings in Shutterstock were worth $464,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of SSTK. Hotchkis & Wiley Capital Management LLC acquired a new position in Shutterstock in the third quarter worth approximately $8,493,000. Raymond James Financial Inc. bought a new stake in shares of Shutterstock during the 4th quarter worth $1,400,000. Barclays PLC grew its holdings in shares of Shutterstock by 238.6% in the 3rd quarter. Barclays PLC now owns 50,565 shares of the business services provider’s stock worth $1,788,000 after acquiring an additional 35,632 shares during the last quarter. Petrus Trust Company LTA acquired a new stake in shares of Shutterstock during the third quarter worth $1,149,000. Finally, FMR LLC lifted its holdings in shares of Shutterstock by 397.5% during the third quarter. FMR LLC now owns 39,193 shares of the business services provider’s stock valued at $1,386,000 after purchasing an additional 31,315 shares during the last quarter. Institutional investors own 82.79% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Needham & Company LLC cut their price objective on Shutterstock from $45.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, March 7th. Truist Financial downgraded shares of Shutterstock from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. StockNews.com started coverage on shares of Shutterstock in a research report on Sunday. They set a “hold” rating on the stock. Finally, JMP Securities restated a “market perform” rating on shares of Shutterstock in a report on Monday, January 6th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Shutterstock has a consensus rating of “Hold” and an average target price of $45.33.

Shutterstock Price Performance

NYSE SSTK opened at $19.55 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 firm has a market capitalization of $682.18 million, a price-to-earnings ratio of 19.17 and a beta of 1.12. The company has a 50 day simple moving average of $25.96 and a 200-day simple moving average of $29.87. Shutterstock, Inc. has a 52-week low of $18.63 and a 52-week high of $47.89.

Shutterstock (NYSE:SSTK) last issued its earnings results on Tuesday, February 25th. The business services provider reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.25). Shutterstock had a net margin of 4.03% and a return on equity of 20.39%. The company had revenue of $250.30 million for the quarter, compared to analyst estimates of $254.16 million. During the same period last year, the business earned $0.72 EPS. The company’s quarterly revenue was up 15.2% on a year-over-year basis. Equities research analysts predict that Shutterstock, Inc. will post 3.12 earnings per share for the current fiscal year.

Shutterstock Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were given a $0.33 dividend. This is a positive change from Shutterstock’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 6.75%. The ex-dividend date was Thursday, March 6th. Shutterstock’s dividend payout ratio is presently 130.69%.

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.