Deutsche Bank AG Increases Position in Shutterstock, Inc. (NYSE:SSTK)

Deutsche Bank AG boosted its holdings in Shutterstock, Inc. (NYSE:SSTK - Free Report) by 467.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 82,204 shares of the business services provider's stock after buying an additional 67,729 shares during the period. Deutsche Bank AG owned 0.24% of Shutterstock worth $2,495,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Amundi raised its position in shares of Shutterstock by 26.2% during the fourth quarter. Amundi now owns 2,350 shares of the business services provider's stock valued at $71,000 after buying an additional 488 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in Shutterstock by 167.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,499 shares of the business services provider's stock valued at $76,000 after acquiring an additional 1,565 shares in the last quarter. R Squared Ltd bought a new stake in Shutterstock in the 4th quarter valued at $108,000. Palouse Capital Management Inc. lifted its stake in Shutterstock by 13.7% in the 4th quarter. Palouse Capital Management Inc. now owns 4,357 shares of the business services provider's stock worth $132,000 after purchasing an additional 525 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in Shutterstock in the 4th quarter worth $134,000. 82.79% of the stock is owned by institutional investors.

Shutterstock Trading Up 1.3%

SSTK traded up $0.24 on Tuesday, hitting $18.29. The company had a trading volume of 170,494 shares, compared to its average volume of 528,004. The business's fifty day simple moving average is $17.28 and its 200 day simple moving average is $24.64. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.23. Shutterstock, Inc. has a 12-month low of $14.35 and a 12-month high of $46.10. The company has a market cap of $644.62 million, a PE ratio of 17.93 and a beta of 1.10.

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

Shutterstock Announces Dividend

The company 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 $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 7.22%. The ex-dividend date of this dividend is Thursday, June 5th. Shutterstock's dividend payout ratio is currently 121.10%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SSTK. JMP Securities reaffirmed a "market perform" rating on shares of Shutterstock in a report on Monday, May 5th. Wall Street Zen initiated coverage on Shutterstock in a research note on Wednesday, May 21st. They issued a "buy" rating on the stock. Needham & Company LLC decreased their price objective on Shutterstock from $45.00 to $30.00 and set a "buy" rating on the stock in a report on Friday, March 7th. Finally, Truist Financial lowered shares of Shutterstock from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $45.33.

Shutterstock 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.