Shutterstock, Inc. (NYSE:SSTK) Holdings Raised by Ameriprise Financial Inc.

Ameriprise Financial Inc. grew its holdings in shares of Shutterstock, Inc. (NYSE:SSTK - Free Report) by 13.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 433,950 shares of the business services provider's stock after acquiring an additional 52,682 shares during the quarter. Ameriprise Financial Inc. owned about 1.24% of Shutterstock worth $13,170,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Amundi boosted its position in Shutterstock by 26.2% during the 4th 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 period. PNC Financial Services Group Inc. boosted 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 buying an additional 1,565 shares in the last quarter. R Squared Ltd bought a new position in Shutterstock during the fourth quarter valued at about $108,000. Palouse Capital Management Inc. boosted its stake in Shutterstock by 13.7% during 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 in the last quarter. 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.

Analysts Set New Price Targets

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

Shutterstock Trading Down 2.9%

Shares of NYSE SSTK traded down $0.53 during mid-day trading on Friday, hitting $18.02. 158,602 shares of the company traded hands, compared to its average volume of 528,861. Shutterstock, Inc. has a 1 year low of $14.35 and a 1 year high of $46.10. The stock has a market capitalization of $635.28 million, a price-to-earnings ratio of 17.67 and a beta of 1.10. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.23. The business has a 50 day moving average of $17.33 and a two-hundred day moving average of $24.92.

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 the consensus estimate of $1.26 by ($0.23). Shutterstock had a net margin of 4.03% and a return on equity of 20.39%. The company had revenue of $242.62 million for the quarter, compared to analysts' expectations of $249.44 million. During the same period in the prior year, the company earned $1.13 earnings per share. The company's revenue for the quarter was up 13.2% on a year-over-year basis. On average, sell-side analysts anticipate that Shutterstock, Inc. will post 3.12 earnings per share for the current fiscal year.

Shutterstock Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Thursday, June 5th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 7.33%. The ex-dividend date is Thursday, June 5th. Shutterstock's dividend payout ratio is 121.10%.

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.