Boston Trust Walden Corp Sells 24,459 Shares of Shutterstock, Inc. (NYSE:SSTK)

Boston Trust Walden Corp lessened its position in shares of Shutterstock, Inc. (NYSE:SSTK) by 4.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 550,717 shares of the business services provider’s stock after selling 24,459 shares during the quarter. Boston Trust Walden Corp owned about 1.58% of Shutterstock worth $16,714,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new stake in Shutterstock during the 4th quarter worth $108,000. KBC Group NV grew its stake in shares of Shutterstock by 1.5% during the fourth quarter. KBC Group NV now owns 66,069 shares of the business services provider’s stock worth $2,005,000 after purchasing an additional 999 shares during the period. Linden Thomas Advisory Services LLC increased its holdings in Shutterstock by 15.4% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 13,424 shares of the business services provider’s stock valued at $407,000 after purchasing an additional 1,794 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in Shutterstock by 14.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 30,270 shares of the business services provider’s stock valued at $919,000 after buying an additional 3,734 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its holdings in Shutterstock by 1.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 35,120 shares of the business services provider’s stock worth $1,066,000 after buying an additional 532 shares during the last quarter. 82.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Shutterstock Trading Down 0.4 %

Shares of Shutterstock stock opened at $29.42 on Tuesday. Shutterstock, Inc. has a 1 year low of $27.30 and a 1 year high of $54.40. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of 28.84 and a beta of 1.08. The business has a fifty day simple moving average of $30.93 and a two-hundred day simple moving average of $33.17. 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 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th will be given a dividend of $0.33 per share. This is a boost from Shutterstock’s previous quarterly dividend of $0.30. The ex-dividend date is Thursday, March 6th. This represents a $1.32 annualized dividend and a yield of 4.49%. Shutterstock’s dividend payout ratio (DPR) is presently 117.65%.

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.