Shutterstock, Inc. (NYSE:SSTK) Shares Purchased by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. lifted its holdings in Shutterstock, Inc. (NYSE:SSTK - Free Report) by 110.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,588 shares of the business services provider's stock after purchasing an additional 18,174 shares during the quarter. Harbor Capital Advisors Inc. owned 0.10% of Shutterstock worth $1,223,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its position in shares of Shutterstock by 31,733.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 955 shares of the business services provider's stock valued at $37,000 after acquiring an additional 952 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new position in shares of Shutterstock in the second quarter valued at about $41,000. Truvestments Capital LLC purchased a new position in shares of Shutterstock in the first quarter valued at about $42,000. Quarry LP lifted its position in shares of Shutterstock by 313.0% in the second quarter. Quarry LP now owns 1,111 shares of the business services provider's stock valued at $43,000 after acquiring an additional 842 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in shares of Shutterstock by 69.6% in the second quarter. Nisa Investment Advisors LLC now owns 2,042 shares of the business services provider's stock valued at $79,000 after acquiring an additional 838 shares in the last quarter. Institutional investors own 82.79% of the company's stock.

Shutterstock Trading Up 5.5 %

SSTK traded up $1.81 during trading on Wednesday, hitting $34.57. 455,249 shares of the stock were exchanged, compared to its average volume of 518,870. The firm has a 50 day simple moving average of $32.93 and a 200 day simple moving average of $36.92. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of 33.89 and a beta of 1.10. Shutterstock, Inc. has a 1 year low of $28.95 and a 1 year high of $54.40. 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, October 29th. The business services provider reported $1.31 earnings per share (EPS) for the quarter, beating 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 business had revenue of $250.59 million for the quarter, compared to the consensus estimate of $240.90 million. During the same period last year, the business posted $0.99 EPS. The business's revenue was up 7.4% compared to the same quarter last year. As a group, equities analysts expect that Shutterstock, Inc. will post 3.07 EPS for the current year.

Shutterstock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a $0.30 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.47%. Shutterstock's payout ratio is 117.65%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Morgan Stanley lowered their price objective on Shutterstock from $58.00 to $50.00 and set an "equal weight" rating on the stock in a research report on Monday, October 21st. Truist Financial decreased their target price on Shutterstock from $65.00 to $56.00 and set a "buy" rating on the stock in a research report on Wednesday, October 30th. StockNews.com downgraded Shutterstock from a "buy" rating to a "hold" rating in a research report on Wednesday, October 30th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $55.00 target price on shares of Shutterstock in a research report on Tuesday, October 29th.

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.