Axa S.A. Increases Stock Holdings in Shutterstock, Inc. (NYSE:SSTK)

Axa S.A. lifted its position in Shutterstock, Inc. (NYSE:SSTK) by 38.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,377 shares of the business services provider’s stock after purchasing an additional 1,768 shares during the quarter. Axa S.A.’s holdings in Shutterstock were worth $247,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of SSTK. Allspring Global Investments Holdings LLC boosted its stake 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 during the period. 1620 Investment Advisors Inc. purchased a new position in Shutterstock during the second quarter worth about $41,000. Truvestments Capital LLC purchased a new position in Shutterstock during the first quarter worth about $42,000. Nisa Investment Advisors LLC boosted its stake in Shutterstock by 69.6% during the second quarter. Nisa Investment Advisors LLC now owns 2,042 shares of the business services provider’s stock worth $79,000 after buying an additional 838 shares during the period. Finally, Headlands Technologies LLC boosted its stake in Shutterstock by 1,339.2% during the second quarter. Headlands Technologies LLC now owns 3,339 shares of the business services provider’s stock worth $129,000 after buying an additional 3,107 shares during the period. Hedge funds and other institutional investors own 82.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SSTK. Morgan Stanley increased their target price on shares of Shutterstock from $55.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. StockNews.com raised shares of Shutterstock from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $65.00 target price on shares of Shutterstock in a research note on Tuesday, August 6th.

Shutterstock Stock Performance

NYSE SSTK opened at $32.14 on Thursday. The firm has a 50 day simple moving average of $36.17 and a 200-day simple moving average of $39.21. Shutterstock, Inc. has a one year low of $32.02 and a one year high of $54.40. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 12.71 and a beta of 1.09.

Shutterstock (NYSE:SSTK) last posted its quarterly earnings data on Tuesday, August 6th. The business services provider reported $1.00 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.01). Shutterstock had a net margin of 5.33% and a return on equity of 20.45%. The business had revenue of $220.05 million during the quarter, compared to analysts’ expectations of $213.44 million. During the same period in the previous year, the business posted $0.76 EPS. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. Equities analysts predict that Shutterstock, Inc. will post 2.99 EPS for the current fiscal year.

Shutterstock Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were issued a $0.30 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $1.20 annualized dividend and a yield of 3.73%. Shutterstock’s dividend payout ratio (DPR) is 46.51%.

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.