Shutterstock, Inc. (NYSE:SSTK) Holdings Raised by TD Asset Management Inc

TD Asset Management Inc boosted its position in Shutterstock, Inc. (NYSE:SSTK - Free Report) by 469.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 906,391 shares of the business services provider's stock after purchasing an additional 747,180 shares during the quarter. TD Asset Management Inc owned about 2.54% of Shutterstock worth $43,761,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. SRS Capital Advisors Inc. increased its holdings in shares of Shutterstock by 433.3% in the 4th quarter. SRS Capital Advisors Inc. now owns 592 shares of the business services provider's stock worth $29,000 after buying an additional 481 shares during the last quarter. Fifth Third Bancorp lifted its position in shares of Shutterstock by 48.7% in the 4th quarter. Fifth Third Bancorp now owns 883 shares of the business services provider's stock worth $43,000 after purchasing an additional 289 shares during the period. First Horizon Advisors Inc. lifted its position in Shutterstock by 58.5% during the 4th quarter. First Horizon Advisors Inc. now owns 894 shares of the business services provider's stock valued at $43,000 after acquiring an additional 330 shares during the period. Nisa Investment Advisors LLC lifted its position in Shutterstock by 317.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,170 shares of the business services provider's stock valued at $56,000 after acquiring an additional 890 shares during the period. Finally, Covestor Ltd lifted its position in Shutterstock by 77.2% during the 3rd quarter. Covestor Ltd now owns 2,327 shares of the business services provider's stock valued at $88,000 after acquiring an additional 1,014 shares during the period. 82.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SSTK has been the subject of a number of analyst reports. Needham & Company LLC restated a "buy" rating and set a $65.00 price objective on shares of Shutterstock in a research note on Tuesday, May 14th. StockNews.com downgraded shares of Shutterstock from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 29th. Morgan Stanley assumed coverage on shares of Shutterstock in a report on Thursday, February 22nd. They issued an "equal weight" rating and a $55.00 target price on the stock. Finally, Truist Financial lowered their target price on shares of Shutterstock from $70.00 to $65.00 and set a "buy" rating on the stock in a report on Monday, May 6th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Shutterstock currently has an average rating of "Moderate Buy" and an average price target of $62.50.

Shutterstock Price Performance

Shares of SSTK traded down $0.36 during midday trading on Friday, hitting $40.63. The stock had a trading volume of 473,833 shares, compared to its average volume of 510,654. Shutterstock, Inc. has a 1 year low of $33.80 and a 1 year high of $58.42. The firm has a market cap of $1.46 billion, a PE ratio of 15.75 and a beta of 1.13. The stock's 50 day moving average is $41.76 and its 200 day moving average is $45.30.

Shutterstock (NYSE:SSTK - Get Free Report) last announced its earnings results on Thursday, May 2nd. The business services provider reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.16. The business had revenue of $214.32 million for the quarter, compared to the consensus estimate of $211.03 million. Shutterstock had a net margin of 10.71% and a return on equity of 21.14%. As a group, equities research analysts expect that Shutterstock, Inc. will post 3.38 earnings per share for the current fiscal year.

Shutterstock Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.95%. The ex-dividend date is Thursday, May 30th. Shutterstock's payout ratio is 46.51%.

Insiders Place Their Bets

In other Shutterstock news, CFO Jarrod Yahes bought 5,350 shares of the company's stock in a transaction on Friday, May 24th. The shares were bought at an average cost of $37.35 per share, for a total transaction of $199,822.50. Following the acquisition, the chief financial officer now directly owns 43,904 shares in the company, valued at $1,639,814.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider John Caine sold 1,974 shares of the firm's stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $43.30, for a total value of $85,474.20. Following the sale, the insider now directly owns 7,413 shares in the company, valued at approximately $320,982.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jarrod Yahes purchased 5,350 shares of the stock in a transaction dated Friday, May 24th. The stock was purchased at an average price of $37.35 per share, for a total transaction of $199,822.50. Following the completion of the acquisition, the chief financial officer now directly owns 43,904 shares in the company, valued at approximately $1,639,814.40. The disclosure for this purchase can be found here. 32.00% of the stock is owned by company insiders.

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.