Brown Advisory Inc. Sells 58,653 Shares of Shutterstock, Inc. (NYSE:SSTK)

Brown Advisory Inc. cut its holdings in Shutterstock, Inc. (NYSE:SSTK - Free Report) by 6.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 850,545 shares of the business services provider's stock after selling 58,653 shares during the period. Brown Advisory Inc. owned 2.44% of Shutterstock worth $25,814,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Amundi grew its stake in shares of Shutterstock by 26.2% in the fourth quarter. Amundi now owns 2,350 shares of the business services provider's stock worth $71,000 after acquiring an additional 488 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Shutterstock by 167.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,499 shares of the business services provider's stock worth $76,000 after purchasing an additional 1,565 shares during the period. R Squared Ltd acquired a new position in shares of Shutterstock during the fourth quarter valued at about $108,000. Palouse Capital Management Inc. lifted its stake in shares of Shutterstock by 13.7% in the fourth quarter. Palouse Capital Management Inc. now owns 4,357 shares of the business services provider's stock valued at $132,000 after buying an additional 525 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new position in Shutterstock during the fourth quarter valued at about $134,000. Institutional investors and hedge funds own 82.79% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SSTK. Truist Financial cut Shutterstock from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Needham & Company LLC reduced their price objective on shares of Shutterstock from $45.00 to $30.00 and set a "buy" rating for the company in a report on Friday, March 7th. StockNews.com raised shares of Shutterstock from a "hold" rating to a "buy" rating in a research note on Monday, May 5th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Shutterstock in a report on Monday, May 5th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Shutterstock currently has a consensus rating of "Hold" and a consensus price target of $45.33.

Shutterstock Price Performance

Shares of NYSE SSTK traded down $0.07 during trading on Friday, reaching $18.69. The company had a trading volume of 217,336 shares, compared to its average volume of 535,146. Shutterstock, Inc. has a 52 week low of $14.35 and a 52 week high of $46.10. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.42 and a current ratio of 0.42. The business's 50 day moving average price is $17.58 and its 200-day moving average price is $25.76. The stock has a market cap of $658.90 million, a PE ratio of 18.32 and a beta of 1.10.

Shutterstock (NYSE:SSTK - Get Free Report) last released its earnings results on Friday, May 2nd. The business services provider reported $1.03 EPS for the quarter, missing the consensus estimate of $1.26 by ($0.23). The firm had revenue of $242.62 million during the quarter, compared to analyst estimates of $249.44 million. Shutterstock had a net margin of 4.03% and a return on equity of 20.39%. The firm's quarterly revenue was up 13.2% on a year-over-year basis. During the same period last year, the business posted $1.13 earnings per share. Analysts expect that Shutterstock, Inc. will post 3.12 earnings per share for the current year.

Shutterstock Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Investors 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 7.06%. The ex-dividend date is Thursday, June 5th. Shutterstock's dividend payout ratio (DPR) is 121.10%.

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.