Caitlin John LLC Cuts Stock Position in Shutterstock, Inc. (NYSE:SSTK)

Caitlin John LLC trimmed its position in Shutterstock, Inc. (NYSE:SSTK) by 8.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,333 shares of the business services provider’s stock after selling 985 shares during the period. Caitlin John LLC’s holdings in Shutterstock were worth $314,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp grew its stake in shares of Shutterstock by 1.4% during the 3rd quarter. State Street Corp now owns 966,694 shares of the business services provider’s stock worth $34,192,000 after purchasing an additional 13,039 shares during the period. Geode Capital Management LLC raised its stake in Shutterstock by 4.6% in the 3rd quarter. Geode Capital Management LLC now owns 573,128 shares of the business services provider’s stock valued at $20,275,000 after purchasing an additional 25,050 shares during the last quarter. Rice Hall James & Associates LLC lifted its holdings in Shutterstock by 40.7% in the 3rd quarter. Rice Hall James & Associates LLC now owns 529,387 shares of the business services provider’s stock valued at $18,724,000 after purchasing an additional 153,154 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Shutterstock by 4.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 320,895 shares of the business services provider’s stock valued at $11,350,000 after buying an additional 13,539 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC purchased a new stake in Shutterstock in the 3rd quarter worth approximately $8,493,000. Hedge funds and other institutional investors own 82.79% of the company’s stock.

Shutterstock Stock Up 1.1 %

SSTK opened at $30.10 on Thursday. Shutterstock, Inc. has a 1 year low of $27.30 and a 1 year high of $54.40. The firm has a 50 day moving average price of $30.81 and a 200 day moving average price of $32.99. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.42 and a current ratio of 0.42. The company has a market cap of $1.05 billion, a PE ratio of 29.51 and a beta of 1.08.

Shutterstock Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.39%. The ex-dividend date of this dividend is Thursday, March 6th. This is an increase from Shutterstock’s previous quarterly dividend of $0.30. Shutterstock’s dividend payout ratio (DPR) is currently 117.65%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Morgan Stanley reduced their price target on Shutterstock from $58.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Monday, October 21st. Truist Financial cut their price objective on shares of Shutterstock from $65.00 to $56.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Needham & Company LLC dropped their price target on shares of Shutterstock from $55.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, January 13th. JMP Securities reiterated a “market perform” rating on shares of Shutterstock in a report on Monday, January 6th. Finally, StockNews.com initiated coverage on Shutterstock in a report on Monday. They set a “hold” rating for the company. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Shutterstock has an average rating of “Hold” and an average price target of $50.33.

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.