Shutterstock (NYSE:SSTK) Earns Hold Rating from Analysts at StockNews.com

Stock analysts at StockNews.com began coverage on shares of Shutterstock (NYSE:SSTK) in a report released on Wednesday. The firm set a “hold” rating on the business services provider’s stock.

A number of other brokerages have also weighed in on SSTK. Needham & Company LLC cut their price target on shares of Shutterstock from $55.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. JMP Securities restated a “market perform” rating on shares of Shutterstock in a report on Monday, January 6th. Finally, Truist Financial reduced their target price on shares of Shutterstock from $65.00 to $56.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $50.33.

Shutterstock Trading Down 2.3 %

NYSE:SSTK opened at $26.33 on Wednesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.42 and a quick ratio of 0.42. The business’s 50-day simple moving average is $30.10 and its 200-day simple moving average is $32.09. Shutterstock has a fifty-two week low of $26.29 and a fifty-two week high of $54.40. The stock has a market capitalization of $917.86 million, a PE ratio of 25.81 and a beta of 1.08.

Institutional Trading of Shutterstock

A number of hedge funds and other institutional investors have recently made changes to their positions in SSTK. Dimensional Fund Advisors LP boosted its holdings in Shutterstock by 22.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,018,231 shares of the business services provider’s stock worth $30,904,000 after purchasing an additional 189,015 shares during the last quarter. State Street Corp lifted its position in Shutterstock by 1.4% during the 3rd 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. Royce & Associates LP boosted its stake in shares of Shutterstock by 18.1% during the 4th quarter. Royce & Associates LP now owns 831,626 shares of the business services provider’s stock worth $25,240,000 after buying an additional 127,399 shares during the last quarter. Invenomic Capital Management LP grew its holdings in shares of Shutterstock by 28.1% in the 4th quarter. Invenomic Capital Management LP now owns 601,490 shares of the business services provider’s stock valued at $18,255,000 after acquiring an additional 132,055 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Shutterstock by 4.6% in the third quarter. Geode Capital Management LLC now owns 573,128 shares of the business services provider’s stock valued at $20,275,000 after acquiring an additional 25,050 shares during the last quarter. 82.79% of the stock is currently owned by institutional investors and hedge funds.

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.