JPMorgan Chase & Co. Has $6.66 Million Position in Shutterstock, Inc. (NYSE:SSTK)

JPMorgan Chase & Co. trimmed its holdings in Shutterstock, Inc. (NYSE:SSTK - Free Report) by 16.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 188,344 shares of the business services provider's stock after selling 36,212 shares during the quarter. JPMorgan Chase & Co. owned about 0.54% of Shutterstock worth $6,662,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. FMR LLC raised its position in shares of Shutterstock by 397.5% during the third quarter. FMR LLC now owns 39,193 shares of the business services provider's stock worth $1,386,000 after acquiring an additional 31,315 shares during the last quarter. Geode Capital Management LLC increased its position in Shutterstock by 4.6% in the third quarter. Geode Capital Management LLC now owns 573,128 shares of the business services provider's stock worth $20,275,000 after purchasing an additional 25,050 shares during the period. Barclays PLC raised its holdings in Shutterstock by 238.6% during the 3rd quarter. Barclays PLC now owns 50,565 shares of the business services provider's stock worth $1,788,000 after purchasing an additional 35,632 shares during the last quarter. Hotchkis & Wiley Capital Management LLC bought a new position in shares of Shutterstock in the 3rd quarter valued at about $8,493,000. Finally, Rubric Capital Management LP bought a new position in shares of Shutterstock in the 2nd quarter valued at about $14,769,000. Institutional investors and hedge funds own 82.79% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on SSTK shares. Truist Financial cut their price objective on shares of Shutterstock from $65.00 to $56.00 and set a "buy" rating on the stock in a report on Wednesday, October 30th. Needham & Company LLC cut their price target on Shutterstock from $55.00 to $45.00 and set a "buy" rating on the stock in a research note on Monday. JMP Securities reaffirmed a "market perform" rating on shares of Shutterstock in a research note on Monday, January 6th. StockNews.com lowered Shutterstock from a "buy" rating to a "hold" rating in a research note on Monday, January 6th. Finally, Morgan Stanley decreased their target price on Shutterstock from $58.00 to $50.00 and set an "equal weight" rating for the company in a research report on Monday, October 21st. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $50.33.

Shutterstock Trading Down 0.5 %

Shutterstock stock traded down $0.15 during mid-day trading on Thursday, hitting $31.29. 728,771 shares of the company's stock were exchanged, compared to its average volume of 1,496,907. The company's 50 day simple moving average is $31.25 and its 200-day simple moving average is $33.86. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $1.09 billion, a P/E ratio of 30.67 and a beta of 1.08. Shutterstock, Inc. has a fifty-two week low of $27.30 and a fifty-two week high of $54.40.

Shutterstock (NYSE:SSTK - Get Free Report) last released its quarterly earnings results 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 return on equity of 20.39% and a net margin of 4.03%. The company had revenue of $250.59 million for the quarter, compared to analyst estimates of $240.90 million. During the same quarter last year, the firm posted $0.99 earnings per share. Shutterstock's revenue was up 7.4% compared to the same quarter last year. On average, equities analysts anticipate that Shutterstock, Inc. will post 3.07 earnings per share for the current year.

Shutterstock Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.84%. The ex-dividend date of this dividend was Friday, November 29th. Shutterstock's dividend payout ratio is 117.65%.

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.