Shutterstock (NYSE:SSTK) Shares Cross Below Two Hundred Day Moving Average - What's Next?

Key Points

• Shutterstock shares fell below their 200-day moving average of $11.48, trading as low as $3.88 and last changing hands at $4.0550.
• Analyst sentiment is mixed but leans neutral: the stock has a consensus “Hold” rating and a $7.00 target price, with recent upgrades and downgrades from various research firms.
• Shutterstock has a market capitalization of approximately $149.8 million, while institutional investors own 82.79% of outstanding shares; the company provides licensed creative content, workflow tools and generative AI services.

Shutterstock, Inc. (NYSE:SSTK - Get Free Report) crossed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $11.48 and traded as low as $3.88. Shutterstock shares last traded at $4.0550, with a volume of 994,553 shares trading hands.

Analyst Ratings Changes

Several brokerages have recently weighed in on SSTK. Zacks Research upgraded Shutterstock from a "strong sell" rating to a "hold" rating in a research report on Friday, July 17th. Weiss Ratings lowered shares of Shutterstock from a "sell (d+)" rating to a "sell (d)" rating in a research report on Thursday, August 13th. Wall Street Zen cut shares of Shutterstock from a "hold" rating to a "sell" rating in a research note on Sunday, July 26th. Finally, Citigroup raised shares of Shutterstock from a "neutral" rating to a "buy" rating and set a $7.00 target price on the stock in a report on Friday, June 5th. One equities research 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. According to MarketBeat.com, Shutterstock has an average rating of "Hold" and a consensus target price of $7.00.

Shutterstock Price Performance

The company has a market capitalization of $149.83 million, a PE ratio of -0.72 and a beta of 1.10. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.32. The firm's 50-day moving average is $5.45 and its 200-day moving average is $11.48.

Hedge Funds Weigh In On Shutterstock

Several institutional investors have recently modified their holdings of the company. Fifth Third Bancorp lifted its holdings in shares of Shutterstock by 865.9% in the 1st quarter. Fifth Third Bancorp now owns 6,346 shares of the business services provider's stock worth $105,000 after acquiring an additional 5,689 shares during the last quarter. Caitlin John LLC bought a new position in shares of Shutterstock during the 2nd quarter valued at $122,000. Louisiana State Employees Retirement System purchased a new position in Shutterstock in the 1st quarter worth $178,000. Empowered Funds LLC purchased a new position in Shutterstock in the 2nd quarter worth $150,000. Finally, DGS Capital Management LLC purchased a new position in Shutterstock in the 4th quarter worth $224,000. 82.79% of the stock is currently owned by institutional investors.

Shutterstock Company 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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