Shutterstock Inc Stock Research

Market Summary

USD47.22-2.46

Market Closed

-4.95%

SSTK Stock Price

SSTK RSI Chart

SSTK Valuation

Market Cap

1.7B

Price/Earnings (Trailing)

20.59

Price/Sales (Trailing)

2.01

EV/EBITDA

9.22

Price/Free Cashflow

10.69

SSTK Price/Sales (Trailing)

SSTK Profitability

EBT Margin

11.00%

Return on Equity

17.01%

Return on Assets

8.64%

Free Cashflow Yield

9.35%

SSTK Fundamentals

SSTK Revenue

Revenue (TTM)

844.0M

Revenue Y/Y

8.11%

Revenue Q/Q

-1.12%

SSTK Earnings

Earnings (TTM)

82.4M

Earnings Y/Y

23.6%

Earnings Q/Q

366.12%

Price Action

52 Week Range

44.6181.23

(Low)(High)

Last 7 days

-11.2%

Last 30 days

-29.5%

Last 90 days

-36.5%

Trailing 12 Months

-20.8%

SSTK Financial Health

Current Ratio

0.56

SSTK Investor Care

Buy Backs (1Y)

1.07%

Diluted EPS (TTM)

2.27

Peers (Alternatives to Shutterstock)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
AMZN	1.2T	524.9B	15.37%	5.66%	290.64	2.38	9.87%	-79.95%
BKNG	105.9B	18.2B	-5.86%	11.60%	34.62	6.2	45.24%	673.85%
MELI	62.7B	11.3B	-2.17%	54.01%	101.53	5.54	42.66%	239.56%
EBAY	23.4B	9.8B	-6.05%	-10.25%	36.59	2.38	-4.32%	-94.50%
ETSY	10.1B	2.6B	-18.35%	0.41%	-14.37	3.86	11.15%	-663.50%
MID-CAP
SSTK	1.7B	844.0M	-29.52%	-20.80%	20.59	2.01	6.93%	-7.38%
SMALL-CAP
RVLV	1.7B	1.1B	-22.28%	-46.50%	28.36	1.51	10.20%	-49.78%
MGNI	1.6B	589.1M	26.81%	5.77%	-8.66	2.71	12.05%	-482.80%
LQDT	543.6M	298.8M	15.38%	10.56%	16.49	1.82	8.67%	-41.91%
SFIX	351.7M	1.8B	13.49%	-54.95%	-1.19	0.19	-16.43%	-882.41%
QUOT	261.1M	269.6M	-5.67%	-38.14%	-3.85	0.97	-44.38%	-16.11%
GRPN	170.1M	567.4M	54.19%	-64.57%	-0.73	0.3	-33.77%	-434.84%
RMBL	124.2M	1.7B	67.79%	-31.84%	2.65	0.06	31.25%	-7536.15%

Financials for Shutterstock

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Revenue	2.0%	844	828	816	806	789
S&GA Expenses	-2.9%	197	203	218	225	216
R&D Expenses	2.7%	67.00	65.00	64.00	60.00	55.00
Costs and Expenses	1.0%	742	734	715	712	687
EBITDA	-1.1%	161	162	150	156	-
EBITDA Margin	-2.5%	0.19*	0.20*	0.19*	0.20*	-
Earnings Before Taxes	9.6%	100	91.00	97.00	90.00	102
EBT Margin	-7.2%	0.11*	0.12*	0.11*	0.13*	-
Interest Expenses	41.0%	1.00	1.00	0.00	0.00	0.00
Net Income	8.2%	82.00	76.00	86.00	79.00	89.00
Net Income Margin	-12.7%	0.09*	0.11*	0.10*	0.11*	-
Free Cahsflow	2.9%	115	112	135	172	-

* denotes actual numbers (not divided by Millions)
Balance Sheet					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Assets	-4.4%	843	881	840	849	796
Current Assets	-17.0%	179	216	161	163	340
Cash Equivalents	-16.8%	96.00	115	76.00	84.00	258
Net PPE	3.8%	57.00	55.00	55.00	53.00	50.00
Goodwill	0.2%	383	382	380	378	219
Liabilities	-15.6%	366	434	410	419	352
Current Liabilities	-18.3%	313	384	360	368	304
LT Debt, Current	-100.0%	-	50.00	50.00	50.00	-
Shareholder's Equity	6.5%	477	447	431	429	444
Retained Earnings	8.6%	294	271	273	258	247
Additional Paid-In Capital	1.1%	396	391	380	371	374
Shares Outstanding	0.2%	36.00	36.00	36.00	36.00	36.00

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Cashflow From Operations	27.8%	203	158	152	169	203
Share Based Compensation	2.3%	37.00	36.00	33.00	33.00	36.00
Cashflow From Investing	-1.2%	-278	-275	-265	-399	-181
Cashflow From Financing	-6.4%	-84.58	-79.49	-101	-89.37	-123
Dividend Payments	2.8%	36.00	35.00	34.00	33.00	32.00
Buy Backs	-52.2%	35.00	73.00	96.00	83.00	65.00

Risks for SSTK

What is the probability of a big loss on SSTK?

76.5%

Probability that Shutterstock stock will be more than 20% underwater in next one year

42.7%

Probability that Shutterstock stock will be more than 30% underwater in next one year.

35%

Probability that Shutterstock stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does SSTK drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Shutterstock was unfortunately bought at previous high price.

Drawdowns

Returns for SSTK

Cumulative Returns on SSTK

0.8%

10-Year Cumulative Returns

2.9%

7-Year Cumulative Returns

1.6%

5-Year Cumulative Returns

8.4%

3-Year Cumulative Returns

What are the long-term rolling returns for SSTK?

FIve years rolling returns for Shutterstock.

Annualized Returns

Which funds bought or sold SSTK recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-05-26	ProShare Advisors LLC	reduced	-33.42	-376,875	4,154,460	0.01%
2023-05-25	Legato Capital Management LLC	unchanged	-	90,235	329,531	0.06%
2023-05-23	Capital Impact Advisors, LLC	reduced	-31.42	-48,944	830,689	1.02%
2023-05-23	ROYCE & ASSOCIATES LP	added	30.05	921,220	2,086,020	0.02%
2023-05-22	AMERIPRISE FINANCIAL INC	reduced	-12.23	1,212,340	7,024,340	-%
2023-05-18	NEW YORK STATE COMMON RETIREMENT FUND	reduced	-27.18	3,000	1,214,000	-%
2023-05-18	JPMORGAN CHASE & CO	added	60.52	12,854,000	23,472,000	-%
2023-05-17	Advisory Services Network, LLC	reduced	-13.7	2,876	18,285	-%
2023-05-17	Thrivent Financial for Lutherans	reduced	-3.35	429,000	1,727,000	-%
2023-05-17	VIRGINIA RETIREMENT SYSTEMS ET AL	reduced	-18.06	-50,176	311,048	-%

Latest Funds Activity

Are funds buying SSTK calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own SSTK

No. of Funds

Shutterstock News

Schedule 13G FIlings of Shutterstock

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 09, 2023	vanguard group inc	8.41%	3,010,586	SC 13G/A
Feb 06, 2023	wellington management group llp	2.20%	789,535	SC 13G/A
Jan 23, 2023	blackrock inc.	11.2%	4,026,472	SC 13G/A
May 06, 2022	oringer jonathan	32.9%	12,035,044	SC 13D/A
Feb 14, 2022	arrowmark colorado holdings llc	1.27%	465,095	SC 13G/A
Feb 04, 2022	wellington management group llp	5.46%	1,994,040	SC 13G
Jan 27, 2022	blackrock inc.	10.6%	3,858,568	SC 13G/A
Jan 26, 2022	blackrock inc.	10.6%	3,858,568	SC 13G/A
Dec 10, 2021	oringer jonathan	34.2%	12,608,542	SC 13D/A
Nov 24, 2021	blackrock inc.	10.5%	3,846,255	SC 13G/A

SSTK Fair Value

Show Fair-Value

Recent SEC filings of Shutterstock

View All Filings

Date Filed	Form Type	Document
May 23, 2023	8-K	Current Report
Apr 25, 2023	10-Q	Quarterly Report
Apr 25, 2023	8-K	Current Report
Apr 25, 2023	DEF 14A	DEF 14A
Apr 25, 2023	DEFA14A	DEFA14A
Apr 18, 2023	4	Insider Trading
Apr 18, 2023	8-K	Current Report
Apr 12, 2023	4	Insider Trading
Apr 05, 2023	4	Insider Trading
Apr 05, 2023	4	Insider Trading

Latest Insider Trading transactions for SSTK

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-04-14	Oringer Jonathan	sold	-406,296	75.24	-5,400	executive chairman
2023-04-11	Oringer Jonathan	acquired	-	-	14,132	executive chairman
2023-04-11	Oringer Jonathan	sold (taxes)	-421,661	72.6	-5,808	executive chairman
2023-04-03	Ciardiello Steven	acquired	-	-	5,323	chief accounting officer
2023-04-03	Yahes Jarrod	sold (taxes)	-601,564	72.6	-8,286	chief financial officer
2023-04-03	Yahes Jarrod	acquired	-	-	15,037	chief financial officer
2023-04-03	Ciardiello Steven	sold (taxes)	-139,392	72.6	-1,920	chief accounting officer
2023-04-03	Oringer Jonathan	acquired	-	-	15,086	executive chairman
2023-04-03	Oringer Jonathan	sold (taxes)	-436,907	72.6	-6,018	executive chairman
2023-03-09	Oringer Jonathan	sold	-7,500	75.00	-100	executive chairman

About Shutterstock

Jonathan E. Oringer

www.shutterstock.com

1150

Shutterstock, Inc., a technology company, provides quality content, and creative workflow solutions in North America, Europe, and internationally. It 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, and 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. The company provides its services under the Shutterstock, Bigstock, Offset, TurboSquid,PremiumBeat brand names, as well as Application programming interface to enhance workflow and project management needs, and search capabilities. It serves corporate professionals and organizations, media and broadcast companies, and small and medium-sized businesses, and individual creators. The company was founded in 2003 and is headquartered in New York, New York.

SSTK Income Statement

2023-03-31

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Statement [Abstract]
Revenue	$ 215,280	$ 199,132
Operating expenses:
Cost of revenue	78,163	69,451
Sales and marketing	47,527	53,329
Product development	15,406	13,626
General and administrative	33,815	30,808
Total operating expenses	174,911	167,214
Income from operations	40,369	31,918
Other income, net	1,045	758
Income before income taxes	41,414	32,676
Provision for income taxes	8,571	6,104
Net income	$ 32,843	$ 26,572
Earnings per share:
Basic (in dollars per share)	$ 0.92	$ 0.73
Diluted (in dollars per share)	$ 0.90	$ 0.71
Weighted average common shares outstanding:
Basic (in shares)	35,856	36,303
Diluted (in shares)	36,575	37,204

SSTK Balance Sheet

2023-03-31

Consolidated Balance Sheets - USD ($) shares in Thousands, $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 95,832	$ 115,154
Accounts receivable, net of allowance of $6,566 and $5,830	48,303	67,249
Prepaid expenses and other current assets	34,765	33,268
Total current assets	178,900	215,671
Property and equipment, net	56,604	54,548
Right-of-use assets	16,819	17,593
Intangible assets, net	167,807	173,087
Goodwill	382,640	381,920
Deferred tax assets, net	17,714	16,533
Other assets	22,039	21,832
Total assets	842,523	881,184
Current liabilities:
Accounts payable	7,778	7,183
Accrued expenses	72,802	89,387
Contributor royalties payable	41,036	38,649
Deferred revenue	180,698	187,070
Debt	0	50,000
Other current liabilities	11,148	11,445
Total current liabilities	313,462	383,734
Deferred tax liability, net	4,766	4,465
Lease liabilities	34,017	35,611
Other non-current liabilities	13,744	9,892
Total liabilities	365,989	433,702
Commitments and contingencies (Note 14)
Stockholders’ equity:
Common stock, $0.01 par value; 200,000 shares authorized; 39,690 and 39,605 shares issued and 35,914 and 35,829 shares outstanding as of March 31, 2023 and December 31, 2022, respectively	396	396
Treasury stock, at cost; 3,776 shares as of March 31, 2023 and December 31, 2022	(200,008)	(200,008)
Additional paid-in capital	395,934	391,482
Accumulated comprehensive loss	(14,020)	(15,439)
Retained earnings	294,232	271,051
Total stockholders’ equity	476,534	447,482
Total liabilities and stockholders’ equity	$ 842,523	$ 881,184
Treasury Stock, Common, Shares	3,776	3,776