Wellington Management Group LLP Decreases Holdings in Shutterstock, Inc. (NYSE:SSTK)

Wellington Management Group LLP cut its holdings in shares of Shutterstock, Inc. (NYSE:SSTK) by 41.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 518,903 shares of the business services provider’s stock after selling 373,765 shares during the quarter. Wellington Management Group LLP owned 1.49% of Shutterstock worth $18,354,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Weiss Asset Management LP purchased a new position in shares of Shutterstock during the third quarter worth approximately $833,000. State Street Corp increased its stake in shares of Shutterstock by 1.4% in the third quarter. State Street Corp now owns 966,694 shares of the business services provider’s stock worth $34,192,000 after buying an additional 13,039 shares during the period. Stifel Financial Corp increased its stake in shares of Shutterstock by 9.4% in the third quarter. Stifel Financial Corp now owns 58,344 shares of the business services provider’s stock worth $2,064,000 after buying an additional 5,023 shares during the period. Petrus Trust Company LTA purchased a new position in shares of Shutterstock in the third quarter worth $1,149,000. Finally, Janus Henderson Group PLC increased its stake in shares of Shutterstock by 15.8% in the third quarter. Janus Henderson Group PLC now owns 65,617 shares of the business services provider’s stock worth $2,321,000 after buying an additional 8,965 shares during the period. 82.79% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on SSTK. Needham & Company LLC reaffirmed a “buy” rating and issued a $55.00 target price on shares of Shutterstock in a research note on Tuesday, October 29th. Truist Financial decreased their target price on shares of Shutterstock from $65.00 to $56.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. StockNews.com raised shares of Shutterstock from a “hold” rating to a “buy” rating in a research note on Monday, December 9th. Finally, Morgan Stanley decreased their target price on shares of Shutterstock from $58.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Monday, October 21st.

Shutterstock Stock Down 0.1 %

Shares of Shutterstock stock opened at $32.30 on Friday. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.23. The company’s fifty day simple moving average is $31.56 and its two-hundred day simple moving average is $35.24. The company has a market cap of $1.13 billion, a P/E ratio of 31.67 and a beta of 1.08. Shutterstock, Inc. has a 12-month low of $28.85 and a 12-month high of $54.40.

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

Shutterstock Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date of this dividend was Friday, November 29th. Shutterstock’s dividend payout ratio (DPR) is presently 117.65%.

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.