Shutterstock, Inc. (NYSE:SSTK) Shares Purchased by Hussman Strategic Advisors Inc.

Hussman Strategic Advisors Inc. raised its holdings in shares of Shutterstock, Inc. (NYSE:SSTK - Free Report) by 100.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 84,000 shares of the business services provider's stock after purchasing an additional 42,000 shares during the quarter. Shutterstock accounts for about 0.9% of Hussman Strategic Advisors Inc.'s portfolio, making the stock its 19th largest position. Hussman Strategic Advisors Inc. owned about 0.24% of Shutterstock worth $4,056,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of SSTK. Quantbot Technologies LP bought a new stake in shares of Shutterstock in the 1st quarter worth about $27,000. Quarry LP lifted its holdings in shares of Shutterstock by 81.8% in the 2nd quarter. Quarry LP now owns 611 shares of the business services provider's stock worth $30,000 after acquiring an additional 275 shares during the last quarter. Covestor Ltd lifted its holdings in shares of Shutterstock by 88.6% in the 1st quarter. Covestor Ltd now owns 349 shares of the business services provider's stock worth $33,000 after acquiring an additional 164 shares during the last quarter. State of Wyoming lifted its holdings in shares of Shutterstock by 93.9% in the 2nd quarter. State of Wyoming now owns 789 shares of the business services provider's stock worth $38,000 after acquiring an additional 382 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Shutterstock by 237.3% in the 1st quarter. Tower Research Capital LLC TRC now owns 560 shares of the business services provider's stock worth $41,000 after acquiring an additional 394 shares during the last quarter. Institutional investors own 82.79% of the company's stock.

Shutterstock Price Performance

NYSE SSTK traded up $0.13 during trading on Friday, reaching $40.99. 405,458 shares of the company's stock traded hands, compared to its average volume of 374,405. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of 13.53 and a beta of 1.09. The company's 50 day simple moving average is $46.06 and its two-hundred day simple moving average is $44.86. Shutterstock, Inc. has a 12-month low of $33.80 and a 12-month high of $74.20.

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

Shutterstock Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Thursday, February 29th were given a dividend of $0.30 per share. This is an increase from Shutterstock's previous quarterly dividend of $0.27. The ex-dividend date was Wednesday, February 28th. This represents a $1.20 dividend on an annualized basis and a yield of 2.93%. Shutterstock's dividend payout ratio (DPR) is 39.60%.

Insider Buying and Selling at Shutterstock

In other Shutterstock news, Chairman Jonathan Oringer sold 38,807 shares of the firm's stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $50.40, for a total transaction of $1,955,872.80. Following the transaction, the chairman now owns 11,043,137 shares of the company's stock, valued at approximately $556,574,104.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Chairman Jonathan Oringer sold 38,807 shares of Shutterstock stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $50.40, for a total value of $1,955,872.80. Following the transaction, the chairman now owns 11,043,137 shares of the company's stock, valued at approximately $556,574,104.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John Caine sold 5,440 shares of Shutterstock stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $47.20, for a total transaction of $256,768.00. Following the completion of the transaction, the insider now directly owns 5,439 shares in the company, valued at approximately $256,720.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 47,057 shares of company stock valued at $2,339,974. Company insiders own 32.30% of the company's stock.

Analysts Set New Price Targets

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