Shutterstock, Inc. (NYSE:SSTK) Shares Sold by Janney Montgomery Scott LLC

Shutterstock, Inc. (NYSE:SSTK) Shares Sold by Janney Montgomery Scott LLC


Janney Montgomery Scott LLC trimmed its holdings in shares of Shutterstock, Inc. (NYSE:SSTK – Free Report) by 9.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,968 shares of the business services provider’s stock after selling 2,149 shares during the quarter. Janney Montgomery Scott LLC owned 0.06% of Shutterstock worth $964,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SRS Capital Advisors Inc. increased its position in shares of Shutterstock by 433.3% during the 4th quarter. SRS Capital Advisors Inc. now owns 592 shares of the business services provider’s stock worth $29,000 after purchasing an additional 481 shares during the last quarter. Fifth Third Bancorp increased its position in shares of Shutterstock by 48.7% during the 4th quarter. Fifth Third Bancorp now owns 883 shares of the business services provider’s stock worth $43,000 after purchasing an additional 289 shares during the last quarter. First Horizon Advisors Inc. grew its position 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 acquiring an additional 330 shares in the last quarter. Nisa Investment Advisors LLC grew its position 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 acquiring an additional 890 shares in the last quarter. Finally, Covestor Ltd grew its position in Shutterstock by 77.2% in the 3rd quarter. Covestor Ltd now owns 2,327 shares of the business services provider’s stock valued at $88,000 after acquiring an additional 1,014 shares in the last quarter. 82.79% of the stock is owned by institutional investors and hedge funds.

Shutterstock Stock Performance

Shares of Shutterstock stock opened at $40.98 on Friday. Shutterstock, Inc. has a one year low of $33.80 and a one year high of $58.42. The company has a market cap of $1.47 billion, a PE ratio of 15.88 and a beta of 1.13. The business has a 50-day simple moving average of $41.88 and a 200-day simple moving average of $45.30.

Shutterstock (NYSE:SSTK – Get Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The business services provider reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.16. Shutterstock had a return on equity of 21.14% and a net margin of 10.71%. The business had revenue of $214.32 million during the quarter, compared to the consensus estimate of $211.03 million. On average, sell-side analysts predict that Shutterstock, Inc. will post 3.38 earnings per share for the current fiscal year.

Shutterstock Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date is Thursday, May 30th. Shutterstock’s dividend payout ratio is presently 46.51%.

Insider Buying and Selling

In other Shutterstock news, CEO Paul J. Hennessy bought 12,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The stock was purchased at an average price of $38.38 per share, for a total transaction of $479,750.00. Following the completion of the purchase, the chief executive officer now directly owns 87,803 shares in the company, valued at $3,369,879.14. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Shutterstock news, CEO Paul J. Hennessy bought 12,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The stock was purchased at an average price of $38.38 per share, for a total transaction of $479,750.00. Following the completion of the purchase, the chief executive officer now directly owns 87,803 shares in the company, valued at $3,369,879.14. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Jarrod Yahes bought 5,350 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were acquired at an average price of $37.35 per share, with a total value of $199,822.50. Following the purchase, the chief financial officer now owns 43,904 shares of the company’s stock, valued at $1,639,814.40. The disclosure for this purchase can be found here. 32.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on SSTK shares. Morgan Stanley started coverage on Shutterstock in a research report on Thursday, February 22nd. They issued an “equal weight” rating and a $55.00 target price for the company. StockNews.com downgraded Shutterstock from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 29th. Truist Financial dropped their target price on Shutterstock from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Monday, May 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $65.00 target price on shares of Shutterstock in a research report on Tuesday, May 14th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Shutterstock currently has an average rating of “Moderate Buy” and an average target price of $62.50.

Check Out Our Latest Report on SSTK

About Shutterstock

(Free Report)

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.

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Institutional Ownership by Quarter for Shutterstock (NYSE:SSTK)



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