Shutterstock, Inc. (NYSE:SSTK) Holdings Raised by Epoch Investment Partners Inc.

Epoch Investment Partners Inc. boosted its holdings in Shutterstock, Inc. (NYSE:SSTK) by 68.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 884,148 shares of the business services provider’s stock after acquiring an additional 360,415 shares during the quarter. Epoch Investment Partners Inc. owned about 2.47% of Shutterstock worth $40,503,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quantbot Technologies LP raised its position in Shutterstock by 2,203.3% in the first quarter. Quantbot Technologies LP now owns 23,010 shares of the business services provider’s stock worth $1,054,000 after acquiring an additional 22,011 shares in the last quarter. TD Asset Management Inc raised its position in Shutterstock by 469.3% in the fourth quarter. TD Asset Management Inc now owns 906,391 shares of the business services provider’s stock worth $43,761,000 after acquiring an additional 747,180 shares in the last quarter. Trigran Investments Inc. raised its position in Shutterstock by 15.5% in the fourth quarter. Trigran Investments Inc. now owns 1,214,726 shares of the business services provider’s stock worth $58,647,000 after acquiring an additional 163,268 shares in the last quarter. Brown Advisory Inc. bought a new stake in Shutterstock in the fourth quarter worth about $21,242,000. Finally, Russell Investments Group Ltd. raised its position in Shutterstock by 9.9% in the first quarter. Russell Investments Group Ltd. now owns 176,267 shares of the business services provider’s stock worth $8,075,000 after acquiring an additional 15,900 shares in the last quarter. 82.79% of the stock is currently owned by institutional investors.

Insider Activity at Shutterstock

In other news, CFO Jarrod Yahes purchased 5,350 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was acquired at an average price of $37.35 per share, with a total value of $199,822.50. Following the purchase, the chief financial officer now owns 43,904 shares in the company, valued at approximately $1,639,814.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider John Caine sold 5,439 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $42.91, for a total value of $233,387.49. Following the completion of the sale, the insider now owns 1,974 shares of the company’s stock, valued at approximately $84,704.34. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Jarrod Yahes bought 5,350 shares of Shutterstock stock in a transaction that occurred on Friday, May 24th. The stock was bought at an average price of $37.35 per share, with a total value of $199,822.50. Following the completion of the acquisition, the chief financial officer now owns 43,904 shares in the company, valued at approximately $1,639,814.40. The disclosure for this purchase can be found here. 32.00% of the stock is currently owned by company insiders.

Shutterstock Trading Up 1.8 %

NYSE:SSTK traded up $0.76 on Friday, hitting $42.61. 359,999 shares of the company’s stock traded hands, compared to its average volume of 393,034. Shutterstock, Inc. has a 1 year low of $33.80 and a 1 year high of $54.40. The firm has a 50-day moving average price of $39.00 and a 200-day moving average price of $43.21. The company has a market cap of $1.53 billion, a PE ratio of 16.52 and a beta of 1.12.

Shutterstock (NYSE:SSTK) last released its earnings results on Thursday, May 2nd. The business services provider reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.16. Shutterstock had a return on equity of 21.14% and a net margin of 10.71%. The company had revenue of $214.32 million for the quarter, compared to analysts’ expectations of $211.03 million. On average, research analysts forecast that Shutterstock, Inc. will post 3.38 EPS for the current fiscal year.

Shutterstock Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Thursday, August 29th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $1.20 annualized dividend and a dividend yield of 2.82%. Shutterstock’s payout ratio is 46.51%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Morgan Stanley boosted their price target on shares of Shutterstock from $55.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. Truist Financial dropped their price target on Shutterstock from $70.00 to $65.00 and set a “buy” rating on the stock in a research note on Monday, May 6th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $65.00 price target on shares of Shutterstock in a research note on Tuesday, May 14th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Shutterstock presently has an average rating of “Moderate Buy” and an average price target of $63.25.

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.