305,145 Shares in Shutterstock, Inc. $SSTK Purchased by Bank of America Corp DE

Key Points

• Bank of America acquired 305,145 Shutterstock shares worth approximately $4.26 million during the second quarter, representing about 0.83% of the company. Several other institutional investors also initiated positions, while institutions collectively own 82.79% of SSTK.
• Shutterstock shares fell 3.0% to $4.05, near the company’s 12-month low of $3.88 and well below its 50-day and 200-day moving averages.
• Analyst opinions remain mixed, producing a consensus “Hold” rating and a $7.00 target price; ratings range from Buy to Sell.

Bank of America Corp DE purchased a new stake in shares of Shutterstock, Inc. (NYSE:SSTK - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 305,145 shares of the business services provider's stock, valued at approximately $4,257,000. Bank of America Corp DE owned approximately 0.83% of Shutterstock at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of SSTK. Odyssean LLC purchased a new stake in shares of Shutterstock during the second quarter worth about $513,000. Jupiter Topco LLC purchased a new position in Shutterstock in the 2nd quarter worth approximately $176,000. Legal & General Group Plc bought a new position in Shutterstock in the 2nd quarter worth approximately $271,000. Manning & Napier Advisors LLC purchased a new stake in Shutterstock during the 2nd quarter valued at approximately $1,356,000. Finally, Sanctuary Advisors LLC purchased a new stake in Shutterstock during the 2nd quarter valued at approximately $282,000. 82.79% of the stock is currently owned by institutional investors.

Shutterstock Trading Down 3.0%

SSTK opened at $4.05 on Tuesday. The stock has a 50-day moving average of $5.45 and a 200 day moving average of $11.48. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.32. Shutterstock, Inc. has a 12 month low of $3.88 and a 12 month high of $29.50. The firm has a market cap of $149.83 million, a P/E ratio of -0.72 and a beta of 1.10.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on SSTK shares. Citigroup raised shares of Shutterstock from a "neutral" rating to a "buy" rating and set a $7.00 target price for the company in a research note on Friday, June 5th. Weiss Ratings downgraded shares of Shutterstock from a "sell (d+)" rating to a "sell (d)" rating in a report on Thursday, August 13th. Zacks Research upgraded Shutterstock from a "strong sell" rating to a "hold" rating in a research report on Friday, July 17th. Finally, Wall Street Zen cut Shutterstock from a "hold" rating to a "sell" rating in a report on Sunday, July 26th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $7.00.

Shutterstock Profile

Shutterstock, Inc NYSE: SSTK is a global provider of creative content, technology and data solutions. The company operates an online marketplace that gives businesses, marketing agencies, media organizations and individual creators access to licensed images, video footage, music, illustrations, vectors and other visual assets.

Through its portfolio of brands and products, Shutterstock also offers creative workflow tools, generative artificial intelligence capabilities, 3D content and related services.

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