BlackRock Inc. Invests $37.12 Million in Shutterstock, Inc. $SSTK

Key Points

• BlackRock acquired 2.66 million Shutterstock shares worth approximately $37.1 million, giving it a 7.24% stake in the company. Institutional investors collectively own 82.79% of Shutterstock.
• Shutterstock shares opened at $5.77, near their 52-week low of $5.17 and well below the 52-week high of $29.50. The stock’s 50-day and 200-day moving averages were $7.39 and $13.03, respectively.
• Analyst sentiment is mixed, with one Buy, one Hold and one Sell rating; the consensus rating is Hold, with an average price target of $7.00.

BlackRock Inc. acquired a new stake in shares of Shutterstock, Inc. (NYSE:SSTK - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 2,660,771 shares of the business services provider's stock, valued at approximately $37,118,000. BlackRock Inc. owned approximately 7.24% of Shutterstock as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. WealthCollab LLC grew its position in shares of Shutterstock by 106.2% in the 2nd quarter. WealthCollab LLC now owns 1,452 shares of the business services provider's stock worth $28,000 after buying an additional 748 shares during the last quarter. Osaic Holdings Inc. lifted its position in Shutterstock by 150.6% during the second quarter. Osaic Holdings Inc. now owns 1,772 shares of the business services provider's stock valued at $34,000 after acquiring an additional 1,065 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in 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 valued at $63,000 after acquiring an additional 1,388 shares during the last quarter. Fifth Third Bancorp boosted its stake in Shutterstock by 865.9% in the first quarter. Fifth Third Bancorp now owns 6,346 shares of the business services provider's stock valued at $105,000 after acquiring an additional 5,689 shares in the last quarter. Finally, Covestor Ltd boosted its stake in Shutterstock by 87.7% in the fourth 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 in the last quarter. Institutional investors own 82.79% of the company's stock.

Shutterstock Price Performance

Shares of NYSE SSTK opened at $5.77 on Wednesday. The business's 50 day moving average price is $7.39 and its 200 day moving average price is $13.03. The firm has a market cap of $213.20 million, a P/E ratio of -1.02 and a beta of 1.10. Shutterstock, Inc. has a 52 week low of $5.17 and a 52 week high of $29.50. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.32.

Analysts Set New Price Targets

SSTK has been the subject of a number of recent analyst reports. Wall Street Zen cut Shutterstock from a "hold" rating to a "sell" rating in a research report on Sunday, July 26th. Zacks Research raised Shutterstock from a "strong sell" rating to a "hold" rating in a research report on Friday, July 17th. Citigroup upgraded Shutterstock from a "neutral" rating to a "buy" rating and set a $7.00 price target for the company in a research note on Friday, June 5th. Finally, Weiss Ratings downgraded Shutterstock from a "sell (d+)" rating to a "sell (d)" rating in a report on Thursday, August 13th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $7.00.

Shutterstock Company Profile

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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