Daiwa Securities Group Inc. Has $58,000 Stock Position in Shutterstock, Inc. (NYSE:SSTK)

Daiwa Securities Group Inc. lessened its holdings in Shutterstock, Inc. (NYSE:SSTK) by 78.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,200 shares of the business services provider’s stock after selling 4,490 shares during the period. Daiwa Securities Group Inc.’s holdings in Shutterstock were worth $58,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Louisiana State Employees Retirement System acquired a new position in shares of Shutterstock during the fourth quarter worth $579,000. Mutual of America Capital Management LLC bought a new stake in Shutterstock during the 4th quarter worth $202,000. International Assets Investment Management LLC increased its holdings in Shutterstock by 4,728.0% in the 4th quarter. International Assets Investment Management LLC now owns 19,312 shares of the business services provider’s stock worth $932,000 after purchasing an additional 18,912 shares in the last quarter. Nisa Investment Advisors LLC raised its position in Shutterstock by 317.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,170 shares of the business services provider’s stock valued at $56,000 after purchasing an additional 890 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Shutterstock by 3.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,243 shares of the business services provider’s stock worth $1,943,000 after purchasing an additional 1,446 shares during the last quarter. Institutional investors and hedge funds own 82.79% of the company’s stock.

Shutterstock Trading Up 0.4 %

Shares of SSTK opened at $42.36 on Monday. The firm’s fifty day simple moving average is $45.64 and its two-hundred day simple moving average is $45.01. Shutterstock, Inc. has a 12 month low of $33.80 and a 12 month high of $67.76. The stock has a market capitalization of $1.51 billion, a P/E ratio of 13.98 and a beta of 1.09.

Shutterstock (NYSE:SSTK) last announced its earnings results on Wednesday, February 21st. The business services provider reported $0.46 EPS for the quarter, beating the consensus estimate of $0.33 by $0.13. The company had revenue of $217.22 million for the quarter, compared to analyst estimates of $224.04 million. Shutterstock had a return on equity of 23.04% and a net margin of 12.61%. As a group, research analysts predict that Shutterstock, Inc. will post 3.13 EPS for the current fiscal year.

Shutterstock Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th will be paid a $0.30 dividend. The ex-dividend date is Thursday, May 30th. This represents a $1.20 annualized dividend and a dividend yield of 2.83%. Shutterstock’s dividend payout ratio is currently 39.60%.

Insider Activity at Shutterstock

In other Shutterstock news, insider John Caine sold 5,440 shares of Shutterstock stock in a transaction on Monday, February 5th. The shares were sold at an average price of $47.20, for a total value of $256,768.00. Following the completion of the sale, the insider now directly owns 5,439 shares of the company’s stock, valued at $256,720.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 32.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on SSTK shares. StockNews.com lowered shares of Shutterstock from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 29th. Morgan Stanley assumed coverage on Shutterstock in a report on Thursday, February 22nd. They issued an “equal weight” rating and a $55.00 price objective for the company. Truist Financial cut their target price on Shutterstock from $85.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, February 22nd. Finally, Needham & Company LLC restated a “buy” rating and set a $60.00 price objective on shares of Shutterstock in a research report on Thursday, February 29th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $62.50.

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.