Shutterstock (NYSE:SSTK) Hits New 1-Year Low at $59.71

Shutterstock, Inc. (NYSE:SSTKGet Rating)’s share price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $59.71 and last traded at $59.77, with a volume of 1322 shares. The stock had previously closed at $62.49.

SSTK has been the topic of several recent analyst reports. StockNews.com initiated coverage on shares of Shutterstock in a report on Thursday, March 31st. They issued a “buy” rating on the stock. Needham & Company LLC cut their price target on shares of Shutterstock from $115.00 to $100.00 in a report on Wednesday, April 27th. Finally, Zacks Investment Research cut shares of Shutterstock from a “buy” rating to a “hold” rating in a report on Thursday, February 17th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Shutterstock currently has an average rating of “Buy” and a consensus target price of $118.75.

The stock has a market cap of $2.13 billion, a P/E ratio of 25.05, a PEG ratio of 3.15 and a beta of 1.25. The stock’s fifty day moving average price is $82.03 and its 200 day moving average price is $95.87.

Shutterstock (NYSE:SSTKGet Rating) last announced its earnings results on Tuesday, April 26th. The business services provider reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.14. Shutterstock had a net margin of 11.27% and a return on equity of 22.22%. The firm had revenue of $199.10 million for the quarter, compared to analysts’ expectations of $202.01 million. During the same quarter in the previous year, the business posted $0.81 EPS. The company’s quarterly revenue was up 8.6% on a year-over-year basis. Equities analysts expect that Shutterstock, Inc. will post 2.68 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 16th. Stockholders of record on Thursday, June 2nd will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date is Wednesday, June 1st. Shutterstock’s dividend payout ratio (DPR) is presently 40.34%.

In other news, Chairman Jonathan Oringer sold 14,541 shares of Shutterstock stock in a transaction dated Friday, April 8th. The stock was sold at an average price of $85.08, for a total value of $1,237,148.28. Following the completion of the transaction, the chairman now owns 11,901,302 shares of the company’s stock, valued at approximately $1,012,562,774.16. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Steven Ciardiello sold 1,557 shares of Shutterstock stock in a transaction dated Wednesday, March 9th. The stock was sold at an average price of $88.78, for a total value of $138,230.46. The disclosure for this sale can be found here. In the last ninety days, insiders sold 132,093 shares of company stock valued at $11,759,383. 37.40% of the stock is owned by insiders.

Large investors have recently modified their holdings of the business. Martingale Asset Management L P raised its position in Shutterstock by 361.5% in the 3rd quarter. Martingale Asset Management L P now owns 13,906 shares of the business services provider’s stock worth $1,577,000 after buying an additional 10,893 shares during the last quarter. Aviva PLC bought a new stake in shares of Shutterstock during the 3rd quarter valued at about $1,700,000. Qube Research & Technologies Ltd grew its stake in shares of Shutterstock by 405.3% during the 4th quarter. Qube Research & Technologies Ltd now owns 17,899 shares of the business services provider’s stock valued at $1,985,000 after purchasing an additional 14,357 shares during the period. American Century Companies Inc. grew its stake in shares of Shutterstock by 4.7% during the 4th quarter. American Century Companies Inc. now owns 15,652 shares of the business services provider’s stock valued at $1,735,000 after purchasing an additional 699 shares during the period. Finally, Teacher Retirement System of Texas grew its stake in shares of Shutterstock by 46.5% during the 3rd quarter. Teacher Retirement System of Texas now owns 3,793 shares of the business services provider’s stock valued at $430,000 after purchasing an additional 1,204 shares during the period. 66.33% of the stock is owned by institutional investors and hedge funds.

Shutterstock Company Profile (NYSE:SSTK)

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.

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