Jump Financial LLC lowered its position in shares of Shutterstock, Inc. (NYSE:SSTK – Free Report) by 55.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,215 shares of the business services provider’s stock after selling 11,386 shares during the quarter. Jump Financial LLC’s holdings in Shutterstock were worth $669,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of SSTK. BlackRock Inc. lifted its stake in Shutterstock by 1.3% in the 3rd quarter. BlackRock Inc. now owns 3,854,562 shares of the business services provider’s stock worth $193,384,000 after purchasing an additional 49,536 shares in the last quarter. Vanguard Group Inc. boosted its stake in Shutterstock by 3.2% during the third quarter. Vanguard Group Inc. now owns 2,927,585 shares of the business services provider’s stock valued at $146,877,000 after buying an additional 90,342 shares during the last quarter. Wellington Management Group LLP grew its holdings in Shutterstock by 6.9% during the 1st quarter. Wellington Management Group LLP now owns 2,132,514 shares of the business services provider’s stock valued at $198,495,000 after buying an additional 138,474 shares in the last quarter. Macquarie Group Ltd. raised its holdings in shares of Shutterstock by 3.7% during the 4th quarter. Macquarie Group Ltd. now owns 1,364,115 shares of the business services provider’s stock worth $71,916,000 after acquiring an additional 48,088 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Shutterstock by 1.7% in the first quarter. Renaissance Technologies LLC now owns 909,501 shares of the business services provider’s stock valued at $84,656,000 after purchasing an additional 15,000 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.
Insider Activity at Shutterstock
In other Shutterstock news, Chairman Jonathan Oringer sold 33,630 shares of the firm’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $50.04, for a total transaction of $1,682,845.20. Following the transaction, the chairman now directly owns 11,240,724 shares in the company, valued at approximately $562,485,828.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last quarter, insiders sold 171,779 shares of company stock worth $9,016,658. Company insiders own 32.30% of the company’s stock.
Shutterstock Price Performance
Shutterstock Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Thursday, August 31st will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.47%. The ex-dividend date of this dividend is Wednesday, August 30th. Shutterstock’s dividend payout ratio is presently 34.84%.
Analyst Upgrades and Downgrades
Several equities analysts have commented on the stock. Needham & Company LLC lowered their price objective on shares of Shutterstock from $90.00 to $76.00 in a research report on Wednesday. Morgan Stanley lowered their price target on shares of Shutterstock from $88.00 to $83.00 and set an “equal weight” rating for the company in a report on Wednesday. StockNews.com initiated coverage on Shutterstock in a research note on Thursday, May 18th. They set a “buy” rating on the stock. Finally, Truist Financial cut their price objective on shares of Shutterstock from $88.00 to $85.00 and set a “buy” rating on the stock in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $81.33.
About Shutterstock
Shutterstock, Inc, a technology company, provides quality content, and creative workflow solutions in North America, Europe, and internationally. It 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, and 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.
Read More
- Five stocks we like better than Shutterstock
- How to Choose Top Rated Stocks
- 3 Best Meme ETFs to Buy Now
- How to Invest in Casino Stocks
- XPO Keeps Reaching New Highs: Markets Love the Stock
- Investing in Commodities: What Are They? How to Invest in Them
- Starbucks Market at a Turning Point: Is a Breakout Imminent?
Want to see what other hedge funds are holding SSTK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shutterstock, Inc. (NYSE:SSTK – Free Report).
Receive News & Ratings for Shutterstock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shutterstock and related companies with MarketBeat.com's FREE daily email newsletter.
