Bank of New York Mellon Corp Takes $5.26 Million Position in Shutterstock, Inc. $SSTK

Key Points

• Bank of New York Mellon acquired 377,149 Shutterstock shares worth approximately $5.26 million, representing a 1.03% stake. Institutional investors collectively own 82.79% of the company.
• Analyst sentiment is mixed, with one Buy, one Hold, and one Sell rating; the overall consensus is Hold with a $7.00 target price.
• Shutterstock shares opened at $5.79, near their 52-week low of $5.17 and well below the 52-week high of $29.50; the stock’s market capitalization is about $213.94 million.

Bank of New York Mellon Corp acquired a new stake in Shutterstock, Inc. (NYSE:SSTK - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 377,149 shares of the business services provider's stock, valued at approximately $5,261,000. Bank of New York Mellon Corp owned 1.03% of Shutterstock at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. WealthCollab LLC increased its stake in Shutterstock by 106.2% in the second quarter. WealthCollab LLC now owns 1,452 shares of the business services provider's stock valued at $28,000 after purchasing an additional 748 shares during the period. Osaic Holdings Inc. boosted its stake in shares of Shutterstock by 150.6% during the second quarter. Osaic Holdings Inc. now owns 1,772 shares of the business services provider's stock worth $34,000 after buying an additional 1,065 shares during the period. Tower Research Capital LLC TRC grew its holdings in shares of Shutterstock by 72.7% during the second quarter. Tower Research Capital LLC TRC now owns 3,297 shares of the business services provider's stock worth $63,000 after buying an additional 1,388 shares during the last quarter. Quadrant Capital Group LLC acquired a new position in Shutterstock in the 3rd quarter valued at about $111,000. Finally, Covestor Ltd increased its position in Shutterstock by 87.7% in the 4th quarter. Covestor Ltd now owns 5,538 shares of the business services provider's stock valued at $106,000 after acquiring an additional 2,587 shares during the period. 82.79% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Shutterstock Trading Up 0.3%

Shutterstock stock opened at $5.79 on Friday. Shutterstock, Inc. has a 1 year low of $5.17 and a 1 year high of $29.50. The firm's 50-day moving average is $6.89 and its 200-day moving average is $12.82. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.48 and a current ratio of 0.48. The company has a market cap of $213.94 million, a P/E ratio of -1.02 and a beta of 1.10.

About Shutterstock

Shutterstock, Inc NYSE: SSTK operates a leading global creative platform that provides royalty-free stock content to businesses, marketing agencies and media outlets. Its primary offerings include high-resolution photographs, vector graphics, illustrations, video footage and music tracks, all available through subscription plans or on-demand licensing. The platform also features customizable design tools and collaborative workspaces that enable customers to create and manage visual content more efficiently.

Founded in 2003 by Jon Oringer, Shutterstock began as an online marketplace offering a modest selection of images and quickly scaled its library to hundreds of millions of assets.

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