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 lowered its stake in Shutterstock, Inc. (NYSE:SSTK - Free Report) by 68.3% during the 1st quarter, according to its most recent disclosure 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 quarter. Deutsche Bank AG owned about 0.07% of Shutterstock worth $486,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Wells Fargo & Company MN grew its holdings in Shutterstock by 30.2% during the 4th quarter. Wells Fargo & Company MN now owns 16,872 shares of the business services provider's stock valued at $512,000 after buying an additional 3,910 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Shutterstock during the 4th quarter valued at approximately $1,400,000. Barclays PLC grew its holdings in Shutterstock by 11.8% during the 4th quarter. Barclays PLC now owns 56,539 shares of the business services provider's stock valued at $1,716,000 after buying an additional 5,974 shares in the last quarter. First Trust Advisors LP grew its holdings in Shutterstock by 5.9% during the 4th quarter. First Trust Advisors LP now owns 150,768 shares of the business services provider's stock valued at $4,576,000 after buying an additional 8,336 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings 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 valued at $30,904,000 after buying an additional 189,015 shares in the last quarter. Institutional investors own 82.79% of the company's stock.

Shutterstock Trading Down 2.4%

SSTK traded down $0.50 during trading hours on Tuesday, reaching $20.43. 223,245 shares of the company's stock traded hands, compared to its average volume of 232,480. The firm has a 50-day moving average price of $20.03 and a 200 day moving average price of $19.17. Shutterstock, Inc. has a 52-week low of $14.35 and a 52-week high of $38.80. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $724.65 million, a PE ratio of 11.29 and a beta of 1.05.

Shutterstock (NYSE:SSTK - Get Free Report) last issued 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). The firm had revenue of $266.99 million for the quarter, compared to the consensus estimate of $248.27 million. Shutterstock had a net margin of 6.36% and a return on equity of 18.42%. The company's revenue for the quarter was up 21.3% on a year-over-year basis. During the same period last year, the firm earned $1.00 earnings per share. As a group, sell-side analysts predict that Shutterstock, Inc. will post 3.12 EPS for the current fiscal year.

Shutterstock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $1.32 dividend on an annualized basis and a yield of 6.5%. Shutterstock's payout ratio is 72.93%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. JMP Securities restated a "market perform" rating on shares of Shutterstock in a report on Monday, May 5th. Needham & Company LLC dropped their target price on Shutterstock from $30.00 to $25.00 and set a "buy" rating for the company in a report on Monday, June 2nd. Finally, Wall Street Zen upgraded Shutterstock from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $43.67.

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.