Shutterstock (NYSE:SSTK) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Shutterstock from hold to sell in a note to investors, adding pressure to the stock.
• Analyst sentiment is mixed overall: Citigroup recently upgraded Shutterstock to buy with a $7 price target, while Zacks and Weiss Ratings also made changes in opposite directions. MarketBeat says the stock currently has an average Hold rating and a $7.00 price target.
• Shutterstock shares were trading near their lows, opening at $5.58 versus a 52-week range of $5.25 to $29.50, with the company carrying a market cap of about $205 million.

Shutterstock (NYSE:SSTK - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Sunday.

Other equities analysts also recently issued research reports about the stock. Citigroup raised 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. 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 "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday, May 4th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $7.00.

Shutterstock Stock Performance

Shutterstock stock opened at $5.58 on Friday. The firm has a market capitalization of $205.19 million, a PE ratio of -9.63 and a beta of 1.06. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.22. Shutterstock has a 1-year low of $5.25 and a 1-year high of $29.50. The firm's 50 day simple moving average is $12.16 and its 200 day simple moving average is $15.58.

Hedge Funds Weigh In On Shutterstock

A number of hedge funds have recently modified their holdings of the company. Balyasny Asset Management L.P. raised its position in shares of Shutterstock by 229.7% during the 4th quarter. Balyasny Asset Management L.P. now owns 804,655 shares of the business services provider's stock valued at $15,369,000 after purchasing an additional 560,617 shares during the period. Millennium Management LLC increased its stake in Shutterstock by 109.3% in the 1st quarter. Millennium Management LLC now owns 626,615 shares of the business services provider's stock worth $11,674,000 after buying an additional 327,203 shares in the last quarter. Callodine Capital Management LP increased its stake in Shutterstock by 34.5% in the 4th quarter. Callodine Capital Management LP now owns 1,033,963 shares of the business services provider's stock worth $19,749,000 after buying an additional 265,258 shares in the last quarter. UBS Group AG raised its holdings in Shutterstock by 72.7% during the third quarter. UBS Group AG now owns 547,241 shares of the business services provider's stock valued at $11,410,000 after acquiring an additional 230,413 shares during the period. Finally, Adage Capital Partners GP L.L.C. bought a new stake in Shutterstock during the fourth quarter valued at about $3,763,000. 82.79% of the stock is currently owned by institutional investors.

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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