BlackRock Fund Advisors recently announced the acquisition of new stake in Shutterstock Inc. (NYSE:SSTK). The institutional investor has increased its shareholding in the Communication Services company by 2.89% to 3.53 million shares with purchase of 99075.0 shares. This fresh investment now brings its stake to 9.84% valued currently at $185.85 million. In addition, The Vanguard Group, Inc. raised its holdings by 91284.0 to 2.87 million shares. And Macquarie Investment Management B has lifted its position by 15.39% or 0.18 million shares – to 1.32 million shares.
With over 0.37 million Shutterstock Inc. (SSTK) shares trading Friday and a closing price of $61.13 on the day, the dollar volume was approximately $22.78 million. The shares have shown a positive half year performance of 3.87% and its price on 01/13/23 gained nearly 0.31%. Currently, there are 35.93M common shares owned by the public and among those 23.73M shares have been available to trade.
The analysts have set the share’s price value over the next 12 months at a high of $70.00 and a low of $47.00. The average price target is 1.0% above its recent price level and a downside to the estimated low will see the stock lose -30.06% over that period. But an upside of 12.67% will see the stock hit the forecast high price target while median target price for the stock is $65.00.
Insiders at the company have transacted a total of 142 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 29 of these insider trades were purchases, accounting for 320,467 shares. Insider sales of the common stock occurred on 113 occasions, with total insider shares sold totaling 697,585 shares.
The top 3 mutual fund holders in Shutterstock Inc. are iShares Core S&P Small Cap ETF, Ivy Mid Cap Growth Fund, and Vanguard Total Stock Market Index. iShares Core S&P Small Cap ETF owns 1.78 million shares of the company’s stock, all valued at over $93.59 million. The company sold 1320.0 shares recently to bring their total holdings to about 4.96% of the shares outstanding. Ivy Mid Cap Growth Fund bought 0.11 million shares to see its total holdings expand to 1.0 million shares valued at over $52.51 million and representing 2.78% of the shares outstanding. Vanguard Total Stock Market Index bought 2037.0 shares to bring its total holdings to over 0.7 million shares at a value of $36.73 million. Vanguard Total Stock Market Index now owns shares totaling to 1.95% of the shares outstanding.
Shares of Shutterstock Inc. (NYSE: SSTK) opened at $60.28, down -$0.66 from a prior closing price of $60.94. However, the script later moved the day high at 61.30, up 0.31%. The company’s stock has a 5-day price change of 9.53% and 18.84% over the past three months. SSTK shares are trading 15.95% year to date (YTD), with the 12-month market performance down to -37.84% lower. It has a 12-month low price of $44.61 and touched a high of $98.93 over the same period. SSTK has an average intraday trading volume of 304.97K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 14.22%, 17.42%, and 3.81% respectively.
Institutional ownership of Shutterstock Inc. (NYSE: SSTK) shares accounts for 72.00% of the company’s 35.93M shares outstanding. Mutual fund holders own 38.08%, while other institutional holders and individual stakeholders account for 85.37% and 34.67% respectively.
It has a market capitalization of $2.18B and a beta (3y monthly) value of 1.08. The stock’s trailing 12-month PE ratio is 26.14, while the earnings-per-share (ttm) stands at $2.34. The company has a PEG of 8.17 and a Quick Ratio of 0.40 with the debt-to-equity ratio at 0.12. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.79% over the week and 2.93% over the month.
Analysts forecast that Shutterstock Inc. (SSTK) will achieve an EPS of $0.95 for the current quarter, $0.83 for the next quarter and $3.52 for 2023. The lowest estimate earnings-per-share for the quarter is $0.91 while analysts give the company a high EPS estimate of $0.98. Comparatively, EPS for the current quarter was $0.77 a year ago. Earnings per share for the fiscal year are expected to increase by 24.80%, and -7.10% over the next financial year. EPS should shrink at an annualized rate of 3.20% over the next five years, compared to 22.00% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 6 brokerage firm advisors rate Shutterstock Inc. (SSTK) as a “Moderate Buy” at a consensus score of 2.20. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 2 of the 6 advise that investors “hold,” and 0 rated it as a “Sell.”
Morgan Stanley was of a view on July 28, 2022 that the stock is Equal-Weight, while Needham gave the stock Buy rating on April 27, 2021, issuing a price target of $105. Needham on their part issued Buy rating on February 12, 2021.