Duality Advisers LP Decreases Stock Position in Shutterstock, Inc. (NYSE:SSTK)

Duality Advisers LP decreased its holdings in Shutterstock, Inc. (NYSE:SSTK - Free Report) by 71.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,024 shares of the business services provider's stock after selling 30,519 shares during the period. Duality Advisers LP's holdings in Shutterstock were worth $581,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in SSTK. Fifth Third Bancorp increased its stake in Shutterstock by 48.7% in the 4th quarter. Fifth Third Bancorp now owns 883 shares of the business services provider's stock worth $43,000 after purchasing an additional 289 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Shutterstock by 7.2% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,387 shares of the business services provider's stock worth $395,000 after purchasing an additional 700 shares during the last quarter. Swiss National Bank grew its holdings in shares of Shutterstock by 1.5% in the third quarter. Swiss National Bank now owns 55,500 shares of the business services provider's stock worth $2,112,000 after purchasing an additional 800 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Shutterstock by 317.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,170 shares of the business services provider's stock worth $56,000 after purchasing an additional 890 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Shutterstock by 47.4% in the third quarter. PNC Financial Services Group Inc. now owns 2,965 shares of the business services provider's stock worth $113,000 after purchasing an additional 954 shares during the last quarter. Institutional investors own 82.79% of the company's stock.

Shutterstock Price Performance

NYSE:SSTK traded up $0.18 during trading hours on Friday, hitting $42.36. The company had a trading volume of 159,589 shares, compared to its average volume of 496,326. The company has a market capitalization of $1.51 billion, a PE ratio of 13.92 and a beta of 1.09. The stock has a 50-day moving average price of $45.70 and a 200 day moving average price of $44.90. Shutterstock, Inc. has a 52 week low of $33.80 and a 52 week high of $67.76.

Shutterstock (NYSE:SSTK - Get Free Report) last released its quarterly earnings results 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. The business had revenue of $217.22 million for the quarter, compared to analysts' expectations of $224.04 million. Shutterstock had a net margin of 12.61% and a return on equity of 23.04%. Analysts anticipate that Shutterstock, Inc. will post 3.13 EPS for the current fiscal year.

Shutterstock Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend is Thursday, May 30th. Shutterstock's dividend payout ratio (DPR) is presently 39.60%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on SSTK shares. Morgan Stanley started coverage on shares of Shutterstock in a report on Thursday, February 22nd. They issued an "equal weight" rating and a $55.00 target price on the stock. Truist Financial cut their target price on shares of Shutterstock from $85.00 to $70.00 and set a "buy" rating on the stock in a report on Thursday, February 22nd. 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. Finally, StockNews.com cut shares of Shutterstock from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 29th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, Shutterstock currently has a consensus rating of "Moderate Buy" and an average target price of $62.50.

Insider Activity

In other news, insider John Caine sold 5,440 shares of the business's stock in a transaction on Monday, February 5th. The shares were sold at an average price of $47.20, for a total transaction of $256,768.00. Following the sale, the insider now owns 5,439 shares in the company, valued at approximately $256,720.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 32.30% of the company's stock.

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.