National Bank of Canada FI Purchases 4,061 Shares of Shutterstock, Inc. (NYSE:SSTK)

National Bank of Canada FI increased its holdings in Shutterstock, Inc. (NYSE:SSTK) by 74.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,549 shares of the business services provider’s stock after acquiring an additional 4,061 shares during the quarter. National Bank of Canada FI’s holdings in Shutterstock were worth $338,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Truvestments Capital LLC bought a new position in shares of Shutterstock in the 3rd quarter worth $31,000. Allspring Global Investments Holdings LLC grew its stake in 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 purchasing an additional 952 shares during the last quarter. 1620 Investment Advisors Inc. bought a new position in Shutterstock in the second quarter worth about $41,000. Quarry LP lifted its position in shares of Shutterstock by 313.0% during the second quarter. Quarry LP now owns 1,111 shares of the business services provider’s stock valued at $43,000 after buying an additional 842 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its position in shares of Shutterstock by 69.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,042 shares of the business services provider’s stock worth $79,000 after buying an additional 838 shares during the last quarter. 82.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Shutterstock Trading Down 0.1 %

NYSE:SSTK opened at $32.30 on Monday. The company has a market capitalization of $1.13 billion, a P/E ratio of 31.67 and a beta of 1.08. 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 12 month low of $28.85 and a 12 month high of $54.40. The firm has a fifty day simple moving average of $31.56 and a 200-day simple moving average of $35.22.

Shutterstock (NYSE:SSTK) last issued 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. The company had revenue of $250.59 million during the quarter, compared to analysts’ expectations of $240.90 million. Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. The firm’s revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.99 EPS. On average, equities research analysts anticipate that Shutterstock, Inc. will post 3.07 earnings per share for the current year.

Shutterstock Dividend Announcement

The firm 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. This represents a $1.20 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date was Friday, November 29th. Shutterstock’s dividend payout ratio is presently 117.65%.

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.