Renaissance Technologies LLC Sells 23,900 Shares of Shutterstock, Inc. (NYSE:SSTK)

Renaissance Technologies LLC cut its position in Shutterstock, Inc. (NYSE:SSTK - Free Report) by 10.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 202,401 shares of the business services provider's stock after selling 23,900 shares during the quarter. Renaissance Technologies LLC owned about 0.58% of Shutterstock worth $6,143,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the company. State Street Corp raised its stake in Shutterstock by 1.4% in the third quarter. State Street Corp now owns 966,694 shares of the business services provider's stock valued at $34,192,000 after purchasing an additional 13,039 shares in the last quarter. Royce & Associates LP increased its holdings in shares of Shutterstock by 18.1% in the 4th quarter. Royce & Associates LP now owns 831,626 shares of the business services provider's stock worth $25,240,000 after buying an additional 127,399 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Shutterstock by 4.6% during the 3rd quarter. Geode Capital Management LLC now owns 573,128 shares of the business services provider's stock valued at $20,275,000 after buying an additional 25,050 shares in the last quarter. Rice Hall James & Associates LLC lifted its holdings in shares of Shutterstock by 3.4% during the 4th quarter. Rice Hall James & Associates LLC now owns 547,520 shares of the business services provider's stock worth $16,617,000 after acquiring an additional 18,133 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Shutterstock by 9.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 351,204 shares of the business services provider's stock worth $10,659,000 after acquiring an additional 30,309 shares in the last quarter. 82.79% of the stock is owned by institutional investors.

Shutterstock Trading Up 1.9 %

Shares of Shutterstock stock traded up $0.31 during trading on Thursday, reaching $16.48. 34,827 shares of the stock were exchanged, compared to its average volume of 539,325. 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 cap of $574.88 million, a price-to-earnings ratio of 16.16 and a beta of 1.13. Shutterstock, Inc. has a 1 year low of $14.35 and a 1 year high of $46.10. The stock's fifty day moving average is $19.25 and its 200 day moving average is $26.92.

Shutterstock (NYSE:SSTK - Get Free Report) last posted its earnings results on Tuesday, February 25th. The business services provider reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.25). Shutterstock had a net margin of 4.03% and a return on equity of 20.39%. The business had revenue of $250.30 million for the quarter, compared to analysts' expectations of $254.16 million. During the same period last year, the firm posted $0.72 earnings per share. Shutterstock's quarterly revenue was up 15.2% on a year-over-year basis. As a group, equities research analysts expect that Shutterstock, Inc. will post 3.12 earnings per share for the current fiscal year.

Shutterstock Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Thursday, June 5th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 8.01%. The ex-dividend date of this dividend is Thursday, June 5th. Shutterstock's payout ratio is 130.69%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on SSTK shares. Needham & Company LLC dropped their price target on Shutterstock from $45.00 to $30.00 and set a "buy" rating for the company in a research note on Friday, March 7th. Truist Financial downgraded Shutterstock from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. JMP Securities reiterated a "market perform" rating on shares of Shutterstock in a research report on Monday, January 6th. Finally, StockNews.com assumed coverage on shares of Shutterstock in a report on Tuesday, April 8th. They issued a "hold" rating for the company. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $45.33.

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.