John Caine Sells 5,439 Shares of Shutterstock, Inc. (NYSE:SSTK) Stock

Shutterstock, Inc. (NYSE:SSTK) insider John Caine sold 5,439 shares of Shutterstock stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $42.91, for a total transaction of $233,387.49. Following the sale, the insider now owns 1,974 shares of the company’s stock, valued at $84,704.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

John Caine also recently made the following trade(s):

• On Friday, April 5th, John Caine sold 1,974 shares of Shutterstock stock. The stock was sold at an average price of $43.30, for a total transaction of $85,474.20.
• On Monday, February 5th, John Caine sold 5,440 shares of Shutterstock stock. The stock was sold at an average price of $47.20, for a total transaction of $256,768.00.

Shutterstock Price Performance

SSTK stock traded down $0.69 during midday trading on Thursday, reaching $41.75. 652,876 shares of the company’s stock traded hands, compared to its average volume of 496,459. The company has a market capitalization of $1.48 billion, a P/E ratio of 14.01 and a beta of 1.13. Shutterstock, Inc. has a fifty-two week low of $33.80 and a fifty-two week high of $61.51. The business has a 50-day moving average price of $45.53 and a two-hundred day moving average price of $45.07.

Shutterstock (NYSE:SSTK) last announced 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 net margin of 12.61% and a return on equity of 23.04%. The firm had revenue of $217.22 million for the quarter, compared to analysts’ expectations of $224.04 million. As a group, research analysts forecast that Shutterstock, Inc. will post 3.13 earnings per share for the current fiscal year.

Shutterstock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.87%. Shutterstock’s payout ratio is currently 39.60%.

Analyst Upgrades and Downgrades

SSTK has been the topic of several research analyst reports. StockNews.com cut shares of Shutterstock from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 29th. Morgan Stanley initiated coverage on shares of Shutterstock in a research report on Thursday, February 22nd. They issued an “equal weight” rating and a $55.00 target price on the stock. Needham & Company LLC reissued a “buy” rating and issued a $60.00 target price on shares of Shutterstock in a research report on Thursday. Finally, Truist Financial decreased their target price on shares of Shutterstock from $85.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, February 22nd. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $62.50.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SSTK. SRS Capital Advisors Inc. lifted its position in shares of Shutterstock by 433.3% during the fourth quarter. SRS Capital Advisors Inc. now owns 592 shares of the business services provider’s stock worth $29,000 after purchasing an additional 481 shares in the last quarter. Fifth Third Bancorp increased its stake in shares of Shutterstock by 48.7% in the fourth quarter. Fifth Third Bancorp now owns 883 shares of the business services provider’s stock worth $43,000 after buying an additional 289 shares during the last quarter. First Horizon Advisors Inc. increased its stake in shares of Shutterstock by 58.5% in the fourth quarter. First Horizon Advisors Inc. now owns 894 shares of the business services provider’s stock worth $43,000 after buying an additional 330 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Shutterstock by 317.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,170 shares of the business services provider’s stock worth $56,000 after buying an additional 890 shares during the last quarter. Finally, Covestor Ltd increased its stake in shares of Shutterstock by 77.2% in the third quarter. Covestor Ltd now owns 2,327 shares of the business services provider’s stock worth $88,000 after buying an additional 1,014 shares during the last quarter. 82.79% of the stock is owned by institutional investors and hedge funds.

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.