Shutterstock, Inc. (NYSE:SSTK) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets decreased its position in Shutterstock, Inc. (NYSE:SSTK - Free Report) by 71.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,664 shares of the business services provider's stock after selling 31,347 shares during the quarter. BNP Paribas Financial Markets' holdings in Shutterstock were worth $448,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of SSTK. Truvestments Capital LLC bought a new stake in shares of Shutterstock during the 3rd quarter worth about $31,000. Allspring Global Investments Holdings LLC raised its stake in shares of Shutterstock by 31,733.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 955 shares of the business services provider's stock valued at $37,000 after purchasing an additional 952 shares during the period. 1620 Investment Advisors Inc. acquired a new stake in shares of Shutterstock in the second quarter valued at about $41,000. Quarry LP increased its position in Shutterstock by 313.0% during the second quarter. Quarry LP now owns 1,111 shares of the business services provider's stock worth $43,000 after buying an additional 842 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its position in shares of Shutterstock by 69.6% in the second quarter. Nisa Investment Advisors LLC now owns 2,042 shares of the business services provider's stock valued at $79,000 after purchasing an additional 838 shares during the last quarter. Institutional investors and hedge funds own 82.79% of the company's stock.

Analyst Upgrades and Downgrades

SSTK has been the subject of a number of research reports. Morgan Stanley dropped their price target on Shutterstock from $58.00 to $50.00 and set an "equal weight" rating for the company in a research note on Monday, October 21st. Truist Financial dropped their target price on shares of Shutterstock from $65.00 to $56.00 and set a "buy" rating on the stock in a research report on Wednesday, October 30th. StockNews.com raised shares of Shutterstock from a "hold" rating to a "buy" rating in a report on Monday, December 9th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $55.00 target price on shares of Shutterstock in a research report on Tuesday, October 29th.

Shutterstock Price Performance

Shares of SSTK stock traded down $0.02 on Friday, hitting $32.30. 590,130 shares of the stock traded hands, compared to its average volume of 322,600. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of 31.67 and a beta of 1.08. Shutterstock, Inc. has a 52 week low of $28.85 and a 52 week high of $54.40. The firm has a 50 day simple moving average of $31.56 and a two-hundred day simple moving average of $35.24. 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 issued its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.31 EPS for the quarter, topping analysts' consensus estimates of $1.06 by $0.25. Shutterstock had a net margin of 4.03% and a return on equity of 20.39%. The business had revenue of $250.59 million during the quarter, compared to analysts' expectations of $240.90 million. During the same period last year, the company posted $0.99 EPS. The business's revenue was up 7.4% on a year-over-year basis. As a group, equities research analysts predict that Shutterstock, Inc. will post 3.07 earnings per share for the current fiscal year.

Shutterstock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.72%. The ex-dividend date of this dividend was Friday, November 29th. Shutterstock's dividend payout ratio (DPR) is currently 117.65%.

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.