Wellington Management Group LLP Sells 373,765 Shares of Shutterstock, Inc. (NYSE:SSTK)

Wellington Management Group LLP trimmed its position in Shutterstock, Inc. (NYSE:SSTK - Free Report) by 41.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 518,903 shares of the business services provider's stock after selling 373,765 shares during the quarter. Wellington Management Group LLP owned approximately 1.49% of Shutterstock worth $18,354,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of SSTK. Truvestments Capital LLC bought a new position in Shutterstock in the 3rd quarter valued at $31,000. Allspring Global Investments Holdings LLC increased its stake in Shutterstock by 31,733.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 955 shares of the business services provider's stock worth $37,000 after acquiring an additional 952 shares during the last quarter. 1620 Investment Advisors Inc. purchased a new stake in shares of Shutterstock in the 2nd quarter valued at about $41,000. Quarry LP boosted its position in shares of Shutterstock by 313.0% during the 2nd 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 during the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Shutterstock by 69.6% during the second quarter. Nisa Investment Advisors LLC now owns 2,042 shares of the business services provider's stock worth $79,000 after purchasing an additional 838 shares in the last quarter. 82.79% of the stock is currently owned by institutional investors.

Shutterstock Trading Down 0.1 %

Shares of NYSE:SSTK traded down $0.02 on Friday, reaching $32.30. 590,130 shares of the company traded hands, compared to its average volume of 502,421. The stock has a market capitalization of $1.13 billion, a P/E ratio of 31.67 and a beta of 1.08. The business's 50-day simple moving average is $31.56 and its 200 day simple moving average is $35.24. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.23. Shutterstock, Inc. has a 52 week low of $28.85 and a 52 week high of $54.40.

Shutterstock (NYSE:SSTK - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.31 EPS for the quarter, topping 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 analysts' expectations of $240.90 million. During the same period in the previous year, the firm earned $0.99 EPS. The business's quarterly revenue was up 7.4% on a year-over-year basis. As a group, equities analysts anticipate that Shutterstock, Inc. will post 3.07 EPS for the current fiscal year.

Shutterstock Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.20 annualized dividend and a yield of 3.72%. Shutterstock's payout ratio is currently 117.65%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on SSTK shares. StockNews.com raised shares of Shutterstock from a "hold" rating to a "buy" rating in a research note on Monday, December 9th. Needham & Company LLC reiterated a "buy" rating and set a $55.00 price objective on shares of Shutterstock in a research report on Tuesday, October 29th. Morgan Stanley dropped their target price on Shutterstock from $58.00 to $50.00 and set an "equal weight" rating for the company in a research report on Monday, October 21st. Finally, Truist Financial reduced their price target on shares of Shutterstock from $65.00 to $56.00 and set a "buy" rating on the stock in a research report on Wednesday, October 30th.

About Shutterstock

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.