Shutterstock, Inc. (NYSE:SSTK) Shares Sold by Holocene Advisors LP

Holocene Advisors LP decreased its stake in Shutterstock, Inc. (NYSE:SSTK) by 68.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,017 shares of the business services provider’s stock after selling 13,116 shares during the quarter. Holocene Advisors LP’s holdings in Shutterstock were worth $213,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Centiva Capital LP lifted its holdings in Shutterstock by 189.7% in the third quarter. Centiva Capital LP now owns 20,378 shares of the business services provider’s stock valued at $721,000 after acquiring an additional 13,343 shares during the period. Verition Fund Management LLC increased its holdings in shares of Shutterstock by 25.6% during the 3rd quarter. Verition Fund Management LLC now owns 23,550 shares of the business services provider’s stock valued at $833,000 after purchasing an additional 4,805 shares in the last quarter. FORA Capital LLC acquired a new position in shares of Shutterstock in the 3rd quarter valued at $344,000. Blueshift Asset Management LLC purchased a new stake in Shutterstock during the third quarter worth $439,000. Finally, FMR LLC grew its position in Shutterstock by 397.5% during the third quarter. FMR LLC now owns 39,193 shares of the business services provider’s stock valued at $1,386,000 after buying an additional 31,315 shares during the period. 82.79% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Shutterstock Stock Performance

NYSE SSTK opened at $32.36 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.42 and a quick ratio of 0.42. The stock’s 50 day simple moving average is $31.61 and its 200-day simple moving average is $35.41. The company has a market cap of $1.13 billion, a PE ratio of 31.73 and a beta of 1.08. Shutterstock, Inc. has a 1-year low of $28.85 and a 1-year high of $54.40.

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

Shutterstock Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a $0.30 dividend. 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 payout ratio is 117.65%.

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.