Barclays PLC Raises Stake in Shutterstock, Inc. (NYSE:SSTK)

Barclays PLC increased its stake in Shutterstock, Inc. (NYSE:SSTK - Free Report) by 238.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,565 shares of the business services provider's stock after purchasing an additional 35,632 shares during the quarter. Barclays PLC owned 0.15% of Shutterstock worth $1,788,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SSTK. Truvestments Capital LLC acquired a new stake in Shutterstock in the third quarter valued at $31,000. Quarry LP grew its stake in Shutterstock by 313.0% in the 2nd quarter. Quarry LP now owns 1,111 shares of the business services provider's stock valued at $43,000 after acquiring an additional 842 shares during the last quarter. Headlands Technologies LLC grew its stake in Shutterstock by 1,339.2% in the 2nd quarter. Headlands Technologies LLC now owns 3,339 shares of the business services provider's stock valued at $129,000 after acquiring an additional 3,107 shares during the last quarter. Palouse Capital Management Inc. increased its holdings in Shutterstock by 20.7% during the 2nd quarter. Palouse Capital Management Inc. now owns 3,877 shares of the business services provider's stock valued at $150,000 after acquiring an additional 665 shares in the last quarter. Finally, Covestor Ltd raised its position in Shutterstock by 9.5% during the third quarter. Covestor Ltd now owns 4,577 shares of the business services provider's stock worth $162,000 after acquiring an additional 397 shares during the last quarter. Institutional investors and hedge funds own 82.79% of the company's stock.

Shutterstock Trading Down 0.3 %

SSTK traded down $0.09 during trading on Friday, hitting $30.58. The company's stock had a trading volume of 911,425 shares, compared to its average volume of 1,875,054. Shutterstock, Inc. has a twelve month low of $28.64 and a twelve month high of $54.40. The stock has a market cap of $1.07 billion, a PE ratio of 29.98 and a beta of 1.08. The firm's 50 day moving average price is $31.46 and its 200-day moving average price is $34.01. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.42 and a quick ratio of 0.42.

Shutterstock (NYSE:SSTK - Get Free Report) last released its earnings results on Tuesday, October 29th. The business services provider reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.25. The firm had revenue of $250.59 million for the quarter, compared to the consensus estimate of $240.90 million. Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. The firm's revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.99 earnings per share. On average, analysts expect that Shutterstock, Inc. will post 3.07 earnings per share for the current year.

Shutterstock Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a $0.30 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.20 dividend on an annualized basis and a yield of 3.92%. Shutterstock's payout ratio is 117.65%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SSTK. Morgan Stanley lowered their price target on shares of Shutterstock from $58.00 to $50.00 and set an "equal weight" rating on the stock in a research report on Monday, October 21st. Truist Financial dropped their price target on Shutterstock from $65.00 to $56.00 and set a "buy" rating for the company in a research report on Wednesday, October 30th. StockNews.com cut Shutterstock from a "buy" rating to a "hold" rating in a report on Monday, January 6th. Needham & Company LLC reaffirmed a "buy" rating and set a $55.00 price objective on shares of Shutterstock in a research note on Tuesday, October 29th. Finally, JMP Securities reissued a "market perform" rating on shares of Shutterstock in a research note on Monday, January 6th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Shutterstock currently has an average rating of "Hold" and an average target price of $53.67.

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.