Deutsche Bank AG Sells 56,108 Shares of Shutterstock, Inc. $SSTK

Key Points

• Deutsche Bank AG reduced its stake in Shutterstock, Inc. by 68.3%, selling 56,108 shares and retaining just 26,096 shares valued at approximately $486,000.
• Several institutional investors, including Wealth Enhancement Advisory Services LLC and Janney Montgomery Scott LLC, have increased their stakes in Shutterstock, indicating renewed interest from the investment community.
• Shutterstock reported $1.19 EPS in its latest quarter, missing estimates, but its revenue increased by 21.3% year-over-year to $266.99 million.

Deutsche Bank AG lessened its holdings in Shutterstock, Inc. (NYSE:SSTK - Free Report) by 68.3% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 26,096 shares of the business services provider's stock after selling 56,108 shares during the period. Deutsche Bank AG owned about 0.07% of Shutterstock worth $486,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its stake in Shutterstock by 22.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,018,231 shares of the business services provider's stock worth $30,904,000 after acquiring an additional 189,015 shares during the period. Rice Hall James & Associates LLC raised its stake in Shutterstock by 21.7% during the 1st quarter. Rice Hall James & Associates LLC now owns 666,348 shares of the business services provider's stock worth $12,414,000 after acquiring an additional 118,828 shares during the period. Invenomic Capital Management LP raised its stake in Shutterstock by 28.1% during the 4th quarter. Invenomic Capital Management LP now owns 601,490 shares of the business services provider's stock worth $18,255,000 after acquiring an additional 132,055 shares during the period. Alpine Associates Management Inc. bought a new stake in Shutterstock during the 1st quarter worth approximately $11,177,000. Finally, Boston Trust Walden Corp raised its stake in Shutterstock by 1.2% during the 1st quarter. Boston Trust Walden Corp now owns 557,583 shares of the business services provider's stock worth $10,388,000 after acquiring an additional 6,866 shares during the period. 82.79% of the stock is owned by hedge funds and other institutional investors.

Shutterstock Price Performance

SSTK traded up $0.26 during trading on Friday, reaching $20.93. 190,030 shares of the company traded hands, compared to its average volume of 251,076. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.49 and a current ratio of 0.49. Shutterstock, Inc. has a 12-month low of $14.35 and a 12-month high of $38.80. The firm has a fifty day simple moving average of $19.94 and a 200 day simple moving average of $19.29. The company has a market cap of $742.33 million, a P/E ratio of 11.56 and a beta of 0.99.

Shutterstock (NYSE:SSTK - Get Free Report) last posted its earnings results on Tuesday, July 29th. The business services provider reported $1.19 earnings per share for the quarter, missing analysts' consensus estimates of $1.65 by ($0.46). Shutterstock had a net margin of 6.36% and a return on equity of 18.42%. The business had revenue of $266.99 million during the quarter, compared to analysts' expectations of $248.27 million. During the same period last year, the business posted $1.00 earnings per share. The company's revenue for the quarter was up 21.3% compared to the same quarter last year. On average, equities analysts forecast that Shutterstock, Inc. will post 3.12 EPS for the current year.

Shutterstock Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be issued a $0.33 dividend. The ex-dividend date is Thursday, September 4th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 6.3%. Shutterstock's payout ratio is 72.93%.

Wall Street Analyst Weigh In

SSTK has been the topic of a number of recent analyst reports. JMP Securities restated a "market perform" rating on shares of Shutterstock in a research note on Monday, May 5th. Needham & Company LLC decreased their target price on shares of Shutterstock from $30.00 to $25.00 and set a "buy" rating on the stock in a research note on Monday, June 2nd. Finally, Wall Street Zen upgraded shares of Shutterstock from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Shutterstock currently has an average rating of "Hold" and an average target price of $43.67.

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.