LSV Asset Management Increases Position in Shutterstock, Inc. (NYSE:SSTK)

LSV Asset Management grew its holdings in Shutterstock, Inc. (NYSE:SSTK - Free Report) by 46.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,370,843 shares of the business services provider's stock after purchasing an additional 433,906 shares during the period. LSV Asset Management owned about 3.84% of Shutterstock worth $66,184,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its position in Shutterstock by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 2,894,111 shares of the business services provider's stock valued at $110,121,000 after purchasing an additional 14,197 shares in the last quarter. Copeland Capital Management LLC increased its position in 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 purchasing an additional 378,450 shares during the period. Trigran Investments Inc. raised its holdings in shares of Shutterstock by 171.7% in the 3rd quarter. Trigran Investments Inc. now owns 1,051,458 shares of the business services provider's stock valued at $40,008,000 after purchasing an additional 664,522 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Shutterstock by 32.9% during the third quarter. Wellington Management Group LLP now owns 944,543 shares of the business services provider's stock valued at $35,940,000 after purchasing an additional 234,030 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Shutterstock by 20.4% in the third quarter. Bank of New York Mellon Corp now owns 569,594 shares of the business services provider's stock worth $21,673,000 after buying an additional 96,337 shares in the last quarter. 82.79% of the stock is currently owned by institutional investors.

Shutterstock Price Performance

NYSE:SSTK traded down $2.51 during trading hours on Friday, hitting $39.24. 614,846 shares of the company were exchanged, compared to its average volume of 360,076. The company's 50 day moving average price is $45.32 and its 200-day moving average price is $45.14. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 15.21 and a beta of 1.13. Shutterstock, Inc. has a 52-week low of $33.80 and a 52-week high of $58.42.

Shutterstock (NYSE:SSTK - Get Free Report) last issued its earnings results on Wednesday, February 21st. The business services provider reported $0.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.13. The company had revenue of $217.22 million during the quarter, compared to analyst estimates of $224.04 million. Shutterstock had a return on equity of 21.14% and a net margin of 10.71%. On average, equities analysts predict that Shutterstock, Inc. will post 3.13 earnings per share for the current year.

Shutterstock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.06%. The ex-dividend date of this dividend is Thursday, May 30th. Shutterstock's payout ratio is 46.51%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. StockNews.com lowered Shutterstock from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 29th. Truist Financial lowered their price target 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. Morgan Stanley assumed coverage on shares of Shutterstock in a research note on Thursday, February 22nd. They set an "equal weight" rating and a $55.00 price objective for the company. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $60.00 price target on shares of Shutterstock in a report on Thursday. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $62.50.

Insider Activity

In related news, insider John Caine sold 5,440 shares of the firm'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 completion of the transaction, the insider now owns 5,439 shares of the company's stock, valued at $256,720.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 12,853 shares of company stock valued at $575,630 in the last ninety days. Insiders own 32.30% of the company's stock.

About Shutterstock

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.