Shutterstock, Inc. (NYSE:SSTK) is Trigran Investments Inc.'s 8th Largest Position

Trigran Investments Inc. boosted its position in Shutterstock, Inc. (NYSE:SSTK - Free Report) by 15.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,214,726 shares of the business services provider's stock after purchasing an additional 163,268 shares during the period. Shutterstock comprises approximately 5.6% of Trigran Investments Inc.'s holdings, making the stock its 8th largest position. Trigran Investments Inc. owned about 3.40% of Shutterstock worth $58,647,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Fifth Third Bancorp lifted its position in shares of Shutterstock by 48.7% during the 4th quarter. Fifth Third Bancorp now owns 883 shares of the business services provider's stock valued at $43,000 after acquiring an additional 289 shares during the period. First Horizon Advisors Inc. increased its stake in shares of Shutterstock by 58.5% during the 4th quarter. First Horizon Advisors Inc. now owns 894 shares of the business services provider's stock worth $43,000 after purchasing an additional 330 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Shutterstock by 0.3% during the 4th quarter. Principal Financial Group Inc. now owns 146,428 shares of the business services provider's stock worth $7,070,000 after purchasing an additional 372 shares in the last quarter. SRS Capital Advisors Inc. increased its stake in shares of Shutterstock by 433.3% during the 4th quarter. SRS Capital Advisors Inc. now owns 592 shares of the business services provider's stock worth $29,000 after purchasing an additional 481 shares in the last quarter. Finally, Swiss National Bank increased its stake in shares of Shutterstock by 1.5% during the 3rd quarter. Swiss National Bank now owns 55,500 shares of the business services provider's stock worth $2,112,000 after purchasing an additional 800 shares in the last quarter. Institutional investors and hedge funds own 82.79% of the company's stock.

Insider Transactions at Shutterstock

In other Shutterstock news, CEO Paul J. Hennessy acquired 12,500 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was acquired at an average price of $38.38 per share, with a total value of $479,750.00. Following the transaction, the chief executive officer now directly owns 87,803 shares in the company, valued at $3,369,879.14. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO Paul J. Hennessy bought 12,500 shares of the firm's stock in a transaction on Thursday, May 23rd. The stock was purchased at an average price of $38.38 per share, for a total transaction of $479,750.00. Following the transaction, the chief executive officer now owns 87,803 shares in the company, valued at $3,369,879.14. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Caine sold 1,974 shares of the company's stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $43.30, for a total transaction of $85,474.20. Following the completion of the transaction, the insider now owns 7,413 shares of the company's stock, valued at approximately $320,982.90. The disclosure for this sale can be found here. Insiders own 32.00% of the company's stock.

Shutterstock Trading Down 3.7 %

SSTK stock traded down $1.45 during trading on Friday, reaching $38.03. The stock had a trading volume of 337,361 shares, compared to its average volume of 489,757. Shutterstock, Inc. has a 1-year low of $33.80 and a 1-year high of $58.42. The company has a market capitalization of $1.36 billion, a P/E ratio of 14.74 and a beta of 1.12. The firm has a fifty day moving average price of $41.04 and a 200 day moving average price of $45.09.

Shutterstock (NYSE:SSTK - Get Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The business services provider reported $0.89 EPS for the quarter, topping analysts' consensus estimates of $0.73 by $0.16. Shutterstock had a net margin of 10.71% and a return on equity of 21.14%. The firm had revenue of $214.32 million for the quarter, compared to analyst estimates of $211.03 million. Sell-side analysts predict that Shutterstock, Inc. will post 3.38 EPS for the current year.

Shutterstock Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.16%. The ex-dividend date is Thursday, May 30th. Shutterstock's payout ratio is currently 46.51%.

Wall Street Analysts Forecast Growth

SSTK has been the subject of several recent analyst reports. Truist Financial lowered their target price on shares of Shutterstock from $70.00 to $65.00 and set a "buy" rating for the company in a research note on Monday, May 6th. StockNews.com cut shares of Shutterstock from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 29th. Morgan Stanley initiated coverage on shares of Shutterstock in a research note on Thursday, February 22nd. They issued an "equal weight" rating and a $55.00 target price for the company. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $65.00 target price on shares of Shutterstock in a research note on Tuesday, May 14th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $62.50.

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.