Shutterstock (NYSE:SSTK) Stock Price Down 5.3% – Should You Sell?

Shares of Shutterstock, Inc. (NYSE:SSTK) traded down 5.3% during trading on Thursday . The stock traded as low as $31.89 and last traded at $31.94. 83,145 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 503,717 shares. The stock had previously closed at $33.71.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SSTK. Truist Financial reduced their price target on Shutterstock from $65.00 to $56.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Needham & Company LLC reiterated a “buy” rating and set a $55.00 target price on shares of Shutterstock in a research report on Tuesday, October 29th. Morgan Stanley decreased their price target on Shutterstock from $58.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Monday, October 21st. Finally, StockNews.com lowered shares of Shutterstock from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th.

Shutterstock Trading Up 3.3 %

The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.42 and a current ratio of 0.42. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 31.75 and a beta of 1.08. The business has a fifty day moving average price of $31.61 and a 200 day moving average price of $35.45.

Shutterstock (NYSE:SSTK) last announced its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.31 EPS for the quarter, topping the consensus estimate of $1.06 by $0.25. The company had revenue of $250.59 million during the quarter, compared to analyst estimates of $240.90 million. Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. The firm’s revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.99 earnings per share. As a group, equities analysts forecast that Shutterstock, Inc. will post 3.07 earnings per share for the current year.

Shutterstock Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a dividend of $0.30 per share. The ex-dividend date is Friday, November 29th. This represents a $1.20 dividend on an annualized basis and a yield of 3.71%. Shutterstock’s dividend payout ratio (DPR) is 117.65%.

Institutional Trading of Shutterstock

A number of institutional investors have recently added to or reduced their stakes in SSTK. Franklin Resources Inc. lifted its position in Shutterstock by 6.2% during the 3rd quarter. Franklin Resources Inc. now owns 15,413 shares of the business services provider’s stock worth $545,000 after acquiring an additional 894 shares in the last quarter. Barclays PLC raised its stake in shares of Shutterstock by 238.6% during the third quarter. Barclays PLC now owns 50,565 shares of the business services provider’s stock valued at $1,788,000 after purchasing an additional 35,632 shares during the period. Geode Capital Management LLC raised its stake in shares of Shutterstock by 4.6% during the third quarter. Geode Capital Management LLC now owns 573,128 shares of the business services provider’s stock valued at $20,275,000 after purchasing an additional 25,050 shares during the period. XTX Topco Ltd lifted its position in shares of Shutterstock by 97.3% during the third quarter. XTX Topco Ltd now owns 16,524 shares of the business services provider’s stock worth $584,000 after purchasing an additional 8,151 shares in the last quarter. Finally, National Bank of Canada FI boosted its stake in shares of Shutterstock by 74.0% in the third quarter. National Bank of Canada FI now owns 9,549 shares of the business services provider’s stock valued at $338,000 after purchasing an additional 4,061 shares during the period. 82.79% of the stock is owned by hedge funds and other institutional investors.

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.