Shutterstock, Inc. (NYSE:SSTK) Insider John Caine Sells 1,974 Shares

Shutterstock, Inc. (NYSE:SSTK - Get Free Report) insider John Caine sold 1,974 shares of the firm's stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $43.30, for a total transaction of $85,474.20. Following the completion of the sale, the insider now owns 7,413 shares in the company, valued at approximately $320,982.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

John Caine also recently made the following trade(s):

• On Monday, February 5th, John Caine sold 5,440 shares of Shutterstock stock. The shares were sold at an average price of $47.20, for a total transaction of $256,768.00.

Shutterstock Stock Performance

Shares of Shutterstock stock traded up $0.25 on Monday, reaching $43.79. The stock had a trading volume of 371,364 shares, compared to its average volume of 532,926. The stock has a market cap of $1.56 billion, a P/E ratio of 14.45 and a beta of 1.09. Shutterstock, Inc. has a fifty-two week low of $33.80 and a fifty-two week high of $75.96. The business's 50-day moving average price is $46.88 and its two-hundred day moving average price is $44.61.

Shutterstock (NYSE:SSTK - Get Free Report) last posted its quarterly earnings data on Wednesday, February 21st. The business services provider reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.13. Shutterstock had a return on equity of 23.04% and a net margin of 12.61%. The company had revenue of $217.22 million during the quarter, compared to analysts' expectations of $224.04 million. As a group, equities analysts forecast that Shutterstock, Inc. will post 3.13 earnings per share for the current fiscal year.

Shutterstock Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Thursday, February 29th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.74%. This is a positive change from Shutterstock's previous quarterly dividend of $0.27. Shutterstock's dividend payout ratio is currently 39.60%.

Institutional Investors Weigh In On Shutterstock

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its position in shares of Shutterstock by 14.3% in the 1st quarter. BlackRock Inc. now owns 4,600,660 shares of the business services provider's stock worth $334,008,000 after acquiring an additional 574,188 shares during the period. Vanguard Group Inc. boosted its stake in Shutterstock by 3.2% during the third quarter. Vanguard Group Inc. now owns 2,927,585 shares of the business services provider's stock worth $146,877,000 after buying an additional 90,342 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Shutterstock by 6.9% in the 1st quarter. Wellington Management Group LLP now owns 2,132,514 shares of the business services provider's stock valued at $198,495,000 after buying an additional 138,474 shares in the last quarter. Macquarie Group Ltd. lifted its holdings in shares of Shutterstock by 18.6% during the 1st quarter. Macquarie Group Ltd. now owns 1,617,721 shares of the business services provider's stock worth $117,447,000 after acquiring an additional 253,606 shares during the period. Finally, Copeland Capital Management LLC boosted its position in shares of Shutterstock by 37.3% during the 4th quarter. Copeland Capital Management LLC now owns 1,394,278 shares of the business services provider's stock valued at $67,316,000 after acquiring an additional 378,450 shares in the last quarter. 82.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SSTK has been the topic of several research reports. Morgan Stanley began coverage on shares of Shutterstock in a research report on Thursday, February 22nd. They issued an "equal weight" rating and a $55.00 price target on the stock. StockNews.com downgraded shares of Shutterstock from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 29th. Truist Financial reduced their target price on shares of Shutterstock from $85.00 to $70.00 and set a "buy" rating for the company in a report on Thursday, February 22nd. Finally, Needham & Company LLC restated a "buy" rating and issued a $60.00 price target on shares of Shutterstock in a research report on Thursday, February 29th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $62.50.

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.