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

Key Points

• Shutterstock shares fell below their 200-day moving average of $12.35, trading as low as $5.02 and last changing hands at $5.2660.
• Analyst sentiment is mixed: coverage includes one Buy, one Hold, and one Sell rating, producing an overall “Hold” consensus with an average price target of $7.00.
• Institutional investors and hedge funds own 82.79% of the company, with several major investors recently adding to or initiating positions.

Shutterstock, Inc. (NYSE:SSTK - Get Free Report) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $12.35 and traded as low as $5.02. Shutterstock shares last traded at $5.2660, with a volume of 756,173 shares trading hands.

Wall Street Analyst Weigh In

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

Shutterstock Stock Performance

The company has a market capitalization of $194.58 million, a price-to-earnings ratio of -0.93 and a beta of 1.10. The stock has a 50 day simple moving average of $6.18 and a 200 day simple moving average of $12.35. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.32.

Institutional Investors Weigh In On Shutterstock

Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in Shutterstock during the 2nd quarter valued at about $37,118,000. Callodine Capital Management LP increased its stake in shares of Shutterstock by 23.0% in 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 purchasing an additional 238,176 shares during the period. Rice Hall James & Associates LLC acquired a new stake in shares of Shutterstock in the second quarter valued at approximately $10,572,000. Bank of New York Mellon Corp raised its holdings in shares of Shutterstock by 6.5% during the first quarter. Bank of New York Mellon Corp now owns 427,114 shares of the business services provider's stock valued at $7,094,000 after buying an additional 26,144 shares during the last quarter. Finally, California State Teachers Retirement System raised its holdings in shares of Shutterstock by 1,461.2% during the second quarter. California State Teachers Retirement System now owns 351,833 shares of the business services provider's stock valued at $4,908,000 after buying an additional 329,297 shares during the last quarter. 82.79% of the stock is owned by institutional investors and hedge funds.

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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