Harbor Capital Advisors Inc. Buys 532 Shares of Shutterstock, Inc. (NYSE:SSTK)

Harbor Capital Advisors Inc. boosted its position in shares of Shutterstock, Inc. (NYSE:SSTK) by 1.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,120 shares of the business services provider’s stock after acquiring an additional 532 shares during the period. Harbor Capital Advisors Inc.’s holdings in Shutterstock were worth $1,066,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Epoch Investment Partners Inc. increased its position in shares of Shutterstock by 22.8% during the second quarter. Epoch Investment Partners Inc. now owns 1,085,539 shares of the business services provider’s stock valued at $42,010,000 after purchasing an additional 201,391 shares during the period. State Street Corp boosted its stake in Shutterstock by 1.4% during the third quarter. State Street Corp now owns 966,694 shares of the business services provider’s stock worth $34,192,000 after buying an additional 13,039 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Shutterstock by 4.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 869,469 shares of the business services provider’s stock valued at $33,648,000 after buying an additional 34,243 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of 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 buying an additional 25,050 shares in the last quarter. Finally, Rice Hall James & Associates LLC lifted its holdings in shares of Shutterstock by 40.7% during the 3rd quarter. Rice Hall James & Associates LLC now owns 529,387 shares of the business services provider’s stock worth $18,724,000 after acquiring an additional 153,154 shares during the period. Institutional investors and hedge funds own 82.79% of the company’s stock.

Shutterstock Stock Down 6.4 %

NYSE SSTK opened at $28.63 on Tuesday. The stock’s 50 day simple moving average is $31.38 and its 200 day simple moving average is $33.94. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.42 and a quick ratio of 0.42. Shutterstock, Inc. has a one year low of $28.34 and a one year high of $54.40. The firm has a market cap of $998.07 million, a PE ratio of 28.07 and a beta of 1.08.

Shutterstock (NYSE:SSTK) last announced its earnings results on Tuesday, October 29th. The business services provider reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.25. The company had revenue of $250.59 million during the quarter, compared to analyst estimates 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 last year, the company posted $0.99 earnings per share. As a group, sell-side analysts forecast that Shutterstock, Inc. will post 3.07 earnings per share for the current fiscal year.

Shutterstock Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were given a dividend of $0.30 per share. The ex-dividend date was Friday, November 29th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.19%. Shutterstock’s payout ratio is 117.65%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on SSTK shares. Morgan Stanley dropped their price target on shares of Shutterstock from $58.00 to $50.00 and set an “equal weight” rating for the company in a research report on Monday, October 21st. Needham & Company LLC cut their target price on Shutterstock from $55.00 to $45.00 and set a “buy” rating for the company in a research report on Monday. Truist Financial lowered their price target on Shutterstock from $65.00 to $56.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. JMP Securities reissued a “market perform” rating on shares of Shutterstock in a report on Monday, January 6th. Finally, StockNews.com lowered shares of Shutterstock from a “buy” rating to a “hold” rating in a report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $50.33.

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.