Shutterstock, Inc. (NYSE:SSTK) Insider John Caine Sells 5,439 Shares

Shutterstock, Inc. (NYSE:SSTK) insider John Caine sold 5,439 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $42.91, for a total value of $233,387.49. Following the completion of the sale, the insider now owns 1,974 shares of the company’s stock, valued at $84,704.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

John Caine also recently made the following trade(s):

• On Friday, April 5th, John Caine sold 1,974 shares of Shutterstock stock. The shares were sold at an average price of $43.30, for a total value of $85,474.20.
• On Monday, February 5th, John Caine sold 5,440 shares of Shutterstock stock. The shares were sold at an average price of $47.20, for a total value of $256,768.00.

Shutterstock Stock Down 1.6 %

NYSE SSTK traded down $0.69 on Thursday, reaching $41.75. The company had a trading volume of 652,876 shares, compared to its average volume of 496,459. The stock has a market capitalization of $1.48 billion, a P/E ratio of 14.01 and a beta of 1.13. The company’s fifty day moving average is $45.53 and its 200 day moving average is $45.07. Shutterstock, Inc. has a 52-week low of $33.80 and a 52-week high of $61.51.

Shutterstock (NYSE:SSTK) last released its quarterly earnings results on Wednesday, February 21st. The business services provider reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.13. The business had revenue of $217.22 million during the quarter, compared to analyst estimates of $224.04 million. Shutterstock had a return on equity of 23.04% and a net margin of 12.61%. On average, research analysts expect that Shutterstock, Inc. will post 3.13 EPS for the current year.

Shutterstock Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $1.20 dividend on an annualized basis and a yield of 2.87%. Shutterstock’s dividend payout ratio (DPR) is presently 39.60%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Needham & Company LLC reissued a “buy” rating and issued a $60.00 price objective on shares of Shutterstock in a research report on Thursday. Truist Financial lowered their target price on Shutterstock from $85.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, February 22nd. StockNews.com lowered Shutterstock from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 29th. Finally, Morgan Stanley assumed coverage on Shutterstock in a research note on Thursday, February 22nd. They issued an “equal weight” rating and a $55.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $62.50.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SSTK. SRS Capital Advisors Inc. grew its stake in Shutterstock by 433.3% in the 4th quarter. SRS Capital Advisors Inc. now owns 592 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 481 shares during the period. Fifth Third Bancorp grew its stake in Shutterstock by 48.7% in the 4th quarter. Fifth Third Bancorp now owns 883 shares of the business services provider’s stock valued at $43,000 after purchasing an additional 289 shares during the period. First Horizon Advisors Inc. grew its stake in Shutterstock by 58.5% in the 4th quarter. First Horizon Advisors Inc. now owns 894 shares of the business services provider’s stock valued at $43,000 after purchasing an additional 330 shares during the period. Nisa Investment Advisors LLC grew its stake in Shutterstock by 317.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,170 shares of the business services provider’s stock valued at $56,000 after purchasing an additional 890 shares during the period. Finally, Covestor Ltd grew its stake in shares of Shutterstock by 77.2% during the 3rd quarter. Covestor Ltd now owns 2,327 shares of the business services provider’s stock worth $88,000 after acquiring an additional 1,014 shares during the period. Institutional investors own 82.79% of the company’s stock.

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.