Shutterstock, Inc. (NYSE:SSTK) Holdings Boosted by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its position in shares of Shutterstock, Inc. (NYSE:SSTK - Free Report) by 9.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 351,204 shares of the business services provider's stock after purchasing an additional 30,309 shares during the period. Charles Schwab Investment Management Inc. owned 1.01% of Shutterstock worth $10,659,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Palouse Capital Management Inc. increased its holdings in shares of Shutterstock by 13.7% during the fourth quarter. Palouse Capital Management Inc. now owns 4,357 shares of the business services provider's stock valued at $132,000 after purchasing an additional 525 shares during the period. Harbor Capital Advisors Inc. increased its stake in Shutterstock by 1.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 35,120 shares of the business services provider's stock valued at $1,066,000 after buying an additional 532 shares during the period. Truvestments Capital LLC bought a new stake in shares of Shutterstock during the 3rd quarter worth about $31,000. Franklin Resources Inc. lifted its stake in shares of Shutterstock by 6.2% in the 3rd quarter. Franklin Resources Inc. now owns 15,413 shares of the business services provider's stock worth $545,000 after acquiring an additional 894 shares during the period. Finally, Segall Bryant & Hamill LLC boosted its holdings in shares of Shutterstock by 2.0% in the third quarter. Segall Bryant & Hamill LLC now owns 47,437 shares of the business services provider's stock valued at $1,678,000 after acquiring an additional 951 shares in the last quarter. Institutional investors and hedge funds own 82.79% of the company's stock.

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Analyst Ratings Changes

Several equities research analysts recently commented on SSTK shares. StockNews.com started coverage on Shutterstock in a report on Sunday. They set a "hold" rating on the stock. Needham & Company LLC lowered their price target on Shutterstock from $45.00 to $30.00 and set a "buy" rating on the stock in a research report on Friday, March 7th. JMP Securities restated a "market perform" rating on shares of Shutterstock in a report on Monday, January 6th. Finally, Truist Financial lowered Shutterstock from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $45.33.

Shutterstock Price Performance

Shares of NYSE SSTK traded down $0.53 during trading on Tuesday, hitting $19.18. The company had a trading volume of 424,284 shares, compared to its average volume of 512,098. Shutterstock, Inc. has a 52 week low of $18.63 and a 52 week high of $47.89. The business's 50-day moving average is $25.57 and its 200 day moving average is $29.66. The company has a market cap of $669.27 million, a P/E ratio of 18.80 and a beta of 1.12. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.42 and a current ratio of 0.42.

Shutterstock (NYSE:SSTK - Get Free Report) last announced its earnings results on Tuesday, February 25th. The business services provider reported $0.67 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.92 by ($0.25). Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. The company had revenue of $250.30 million for the quarter, compared to analyst estimates of $254.16 million. During the same period last year, the firm earned $0.72 earnings per share. The firm's revenue for the quarter was up 15.2% on a year-over-year basis. Equities research analysts predict that Shutterstock, Inc. will post 3.12 earnings per share for the current fiscal year.

Shutterstock Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Thursday, March 6th. This is a positive change from Shutterstock's previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a yield of 6.88%. Shutterstock's dividend payout ratio is currently 130.69%.

Shutterstock 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.