38,098 Shares in Shutterstock, Inc. (NYSE:SSTK) Acquired by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC purchased a new stake in shares of Shutterstock, Inc. (NYSE:SSTK - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 38,098 shares of the business services provider's stock, valued at approximately $1,839,000. Kingsview Wealth Management LLC owned about 0.11% of Shutterstock as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the company. Integrity Wealth Solutions LLC acquired a new position in Shutterstock in the fourth quarter worth $238,000. Principal Financial Group Inc. grew its holdings in Shutterstock by 0.3% during the 4th quarter. Principal Financial Group Inc. now owns 146,428 shares of the business services provider's stock worth $7,070,000 after acquiring an additional 372 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Shutterstock by 1.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 819,656 shares of the business services provider's stock valued at $39,574,000 after acquiring an additional 13,899 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in Shutterstock in the 4th quarter valued at about $213,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Shutterstock by 3.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 286,729 shares of the business services provider's stock worth $13,843,000 after purchasing an additional 10,389 shares in the last quarter. 82.79% of the stock is owned by institutional investors.

Shutterstock Stock Down 0.2 %

SSTK traded down $0.08 during trading hours on Friday, hitting $41.94. 276,295 shares of the company's stock were exchanged, compared to its average volume of 410,392. Shutterstock, Inc. has a 1-year low of $33.80 and a 1-year high of $58.42. The stock's 50-day moving average is $43.68 and its two-hundred day moving average is $45.41. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of 16.26 and a beta of 1.13.

Shutterstock (NYSE:SSTK - Get Free Report) last posted its quarterly earnings results on Wednesday, February 21st. The business services provider reported $0.46 earnings per share for the quarter, beating analysts' consensus estimates of $0.33 by $0.13. Shutterstock had a return on equity of 21.14% and a net margin of 10.71%. The firm had revenue of $217.22 million during the quarter, compared to the consensus estimate of $224.04 million. On average, equities research analysts anticipate that Shutterstock, Inc. will post 3.38 EPS 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 $0.30 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $1.20 annualized dividend and a yield of 2.86%. Shutterstock's dividend payout ratio is 46.51%.

Analyst Ratings Changes

A number of analysts recently commented on the company. Truist Financial lowered their price objective on Shutterstock from $70.00 to $65.00 and set a "buy" rating for the company in a research report on Monday, May 6th. StockNews.com downgraded shares of Shutterstock from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 29th. Morgan Stanley initiated coverage on shares of Shutterstock in a research note on Thursday, February 22nd. They issued an "equal weight" rating and a $55.00 price objective on the stock. Finally, Needham & Company LLC reiterated a "buy" rating and set a $65.00 target price on shares of Shutterstock in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Shutterstock has an average rating of "Moderate Buy" and a consensus target price of $62.50.

Insider Activity

In other Shutterstock news, insider John Caine sold 5,439 shares of the company's stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $42.91, for a total value of $233,387.49. Following the transaction, the insider now directly owns 1,974 shares in the company, valued at $84,704.34. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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.