XTX Topco Ltd Purchases 8,151 Shares of Shutterstock, Inc. (NYSE:SSTK)

XTX Topco Ltd grew its position in shares of Shutterstock, Inc. (NYSE:SSTK) by 97.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,524 shares of the business services provider’s stock after buying an additional 8,151 shares during the quarter. XTX Topco Ltd’s holdings in Shutterstock were worth $584,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its holdings in Shutterstock by 9.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,853 shares of the business services provider’s stock worth $452,000 after acquiring an additional 874 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of Shutterstock by 69.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,042 shares of the business services provider’s stock worth $79,000 after buying an additional 838 shares during the last quarter. 1620 Investment Advisors Inc. bought a new position in Shutterstock during the second quarter valued at about $41,000. Allspring Global Investments Holdings LLC grew its position in Shutterstock by 31,733.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 955 shares of the business services provider’s stock valued at $37,000 after buying an additional 952 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in Shutterstock during the second quarter worth about $759,000. Hedge funds and other institutional investors own 82.79% of the company’s stock.

Analyst Ratings Changes

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

Shutterstock Stock Down 0.4 %

SSTK opened at $32.32 on Friday. The company has a 50 day moving average of $31.56 and a 200 day moving average of $35.28. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.23. Shutterstock, Inc. has a 12 month low of $28.85 and a 12 month high of $54.40. The company has a market cap of $1.13 billion, a PE ratio of 31.69 and a beta of 1.08.

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

Shutterstock Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date of this dividend is Friday, November 29th. 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.