BNP PARIBAS ASSET MANAGEMENT Holding S.A. Makes New Investment in Shutterstock, Inc. (NYSE:SSTK)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in Shutterstock, Inc. (NYSE:SSTK) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 19,600 shares of the business services provider’s stock, valued at approximately $759,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned approximately 0.05% of Shutterstock as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC boosted 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. 1620 Investment Advisors Inc. bought a new stake in shares of Shutterstock in the 2nd quarter valued at about $41,000. Nisa Investment Advisors LLC boosted its holdings in Shutterstock by 69.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,042 shares of the business services provider’s stock valued at $79,000 after acquiring an additional 838 shares during the period. J.Safra Asset Management Corp bought a new position in Shutterstock during the 2nd quarter worth approximately $348,000. Finally, Carolina Wealth Advisors LLC increased its stake in Shutterstock by 3.2% in the 2nd quarter. Carolina Wealth Advisors LLC now owns 117,501 shares of the business services provider’s stock worth $4,547,000 after purchasing an additional 3,612 shares during the period. Institutional investors own 82.79% of the company’s stock.

Shutterstock Trading Up 1.5 %

Shares of Shutterstock stock opened at $35.88 on Tuesday. The business has a fifty day simple moving average of $37.84 and a two-hundred day simple moving average of $41.24. The firm has a market capitalization of $1.29 billion, a P/E ratio of 13.91 and a beta of 1.12. Shutterstock, Inc. has a 12 month low of $32.72 and a 12 month high of $54.40.

Shutterstock (NYSE:SSTK) last issued its quarterly earnings results on Tuesday, August 6th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.01). The business had revenue of $220.05 million for the quarter, compared to analysts’ expectations of $213.44 million. Shutterstock had a net margin of 5.33% and a return on equity of 20.45%. The company’s revenue was up 5.4% on a year-over-year basis. During the same period last year, the business earned $0.76 earnings per share. Analysts predict that Shutterstock, Inc. will post 3.22 earnings per share for the current year.

Shutterstock Announces Dividend

The business 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 is Thursday, August 29th. This represents a $1.20 annualized dividend and a dividend yield of 3.34%. Shutterstock’s payout ratio is currently 46.51%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on SSTK shares. Morgan Stanley increased their target price on shares of Shutterstock from $55.00 to $58.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. Truist Financial cut their price objective on Shutterstock from $70.00 to $65.00 and set a “buy” rating on the stock in a research report on Monday, May 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $65.00 price target on shares of Shutterstock in a research note on Tuesday, August 6th.

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.