Rice Hall James & Associates LLC Acquires Shares of 757,841 Shutterstock, Inc. $SSTK

Key Points

• Rice Hall James & Associates acquired 757,841 Shutterstock shares worth approximately $10.6 million, representing a 2.06% stake. Institutional investors collectively own 82.79% of the company.
• Analyst sentiment remains mixed: Citigroup upgraded Shutterstock to “Buy,” while Zacks Research moved to “Hold” and Weiss Ratings and Wall Street Zen maintained or moved toward “Sell” views. MarketBeat lists an average rating of “Hold” and a $7.00 target price.
• Shutterstock shares opened at $5.40, down 5.1%, near the company’s 12-month low of $5.17 and well below its 50-day and 200-day moving averages of $9.22 and $14.07, respectively.

Rice Hall James & Associates LLC bought a new position in shares of Shutterstock, Inc. (NYSE:SSTK - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 757,841 shares of the business services provider's stock, valued at approximately $10,572,000. Rice Hall James & Associates LLC owned 2.06% of Shutterstock as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Union Square Park Capital Management LLC bought a new stake in shares of Shutterstock during the fourth quarter valued at approximately $2,101,000. Callodine Capital Management LP lifted its position in Shutterstock by 23.0% during the first quarter. Callodine Capital Management LP now owns 1,272,139 shares of the business services provider's stock valued at $21,130,000 after buying an additional 238,176 shares during the period. Manning & Napier Advisors LLC bought a new stake in shares of Shutterstock during the 1st quarter valued at $1,661,000. Janney Montgomery Scott LLC grew its position in shares of Shutterstock by 3.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 18,096 shares of the business services provider's stock worth $301,000 after buying an additional 668 shares during the period. Finally, Strs Ohio grew its position in shares of Shutterstock by 10.9% in the 1st quarter. Strs Ohio now owns 34,700 shares of the business services provider's stock worth $576,000 after buying an additional 3,400 shares during the period. Hedge funds and other institutional investors own 82.79% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Zacks Research upgraded shares of Shutterstock from a "strong sell" rating to a "hold" rating in a research note on Friday, July 17th. Citigroup upgraded shares of Shutterstock from a "neutral" rating to a "buy" rating and set a $7.00 price objective on the stock in a report on Friday, June 5th. Weiss Ratings downgraded shares of Shutterstock from a "sell (d+)" rating to a "sell (d)" rating in a research note on Thursday. Finally, Wall Street Zen cut Shutterstock from a "hold" rating to a "sell" rating in a research report on Sunday, July 26th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Shutterstock currently has an average rating of "Hold" and an average target price of $7.00.

Shutterstock Stock Down 5.1%

Shares of Shutterstock stock opened at $5.40 on Tuesday. The company has a market cap of $199.53 million, a price-to-earnings ratio of -0.96 and a beta of 1.11. The company's 50 day moving average is $9.22 and its 200 day moving average is $14.07. Shutterstock, Inc. has a twelve month low of $5.17 and a twelve month 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.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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