Natixis Sells 15,500 Shares of Shutterstock, Inc. (NYSE:SSTK)

Natixis lowered its stake in Shutterstock, Inc. (NYSE:SSTK - Free Report) by 37.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,958 shares of the business services provider's stock after selling 15,500 shares during the quarter. Natixis owned approximately 0.07% of Shutterstock worth $788,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC increased its position in shares of 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 acquiring an additional 25,050 shares in the last quarter. Barclays PLC grew its position 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 in the last quarter. PNC Financial Services Group Inc. raised its stake in Shutterstock by 167.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,499 shares of the business services provider's stock valued at $76,000 after purchasing an additional 1,565 shares during the period. Range Financial Group LLC purchased a new stake in shares of Shutterstock in the fourth quarter valued at $691,000. Finally, Franklin Resources Inc. boosted its position in shares of Shutterstock by 50.6% in the fourth quarter. Franklin Resources Inc. now owns 23,209 shares of the business services provider's stock worth $704,000 after buying an additional 7,796 shares during the period. Institutional investors and hedge funds own 82.79% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SSTK. Needham & Company LLC dropped 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. StockNews.com started coverage on Shutterstock in a report on Tuesday, April 8th. They issued a "hold" rating on the stock. JMP Securities restated a "market perform" rating on shares of Shutterstock in a report on Monday, January 6th. Finally, Truist Financial lowered shares of Shutterstock from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $45.33.

Shutterstock Stock Down 0.3 %

Shares of Shutterstock stock traded down $0.05 during trading on Monday, hitting $16.95. 130,416 shares of the stock traded hands, compared to its average volume of 541,456. The company has a fifty day moving average price of $18.79 and a two-hundred day moving average price of $26.66. Shutterstock, Inc. has a twelve month low of $14.35 and a twelve month high of $46.10. The stock has a market cap of $591.56 million, a P/E ratio of 16.66 and a beta of 1.13. 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 quarterly earnings results on Tuesday, February 25th. The business services provider reported $0.67 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.25). Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. The business had revenue of $250.30 million for the quarter, compared to analyst estimates of $254.16 million. During the same quarter last year, the company earned $0.72 EPS. The business's revenue for the quarter was up 15.2% compared to the same quarter last year. Equities research analysts predict that Shutterstock, Inc. will post 3.12 EPS for the current fiscal year.

Shutterstock Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Thursday, June 5th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 7.79%. The ex-dividend date of this dividend is Thursday, June 5th. Shutterstock's payout ratio is 130.69%.

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.