Shutterstock (NYSE:SSTK) Upgraded to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded Shutterstock from “sell” to “hold,” following a recent wave of mixed analyst opinions on the stock.
• Other firms have been split on SSTK: Citigroup raised it to buy with a $7.00 target, while Zacks Research and Weiss Ratings downgraded it to more bearish ratings. Overall, MarketBeat shows an average rating of “Reduce” with a $7.00 price target.
• Shutterstock shares were trading near $7.43, close to their 52-week low of $7.17, while the company’s market cap was about $272.9 million. Institutional investors still own the majority of the stock, with 82.79% held by institutions.

Shutterstock (NYSE:SSTK - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

SSTK has been the subject of several other research reports. Citigroup upgraded shares of Shutterstock from a "neutral" rating to a "buy" rating and set a $7.00 target price for the company in a research note on Friday, June 5th. Zacks Research lowered Shutterstock from a "hold" rating to a "strong sell" rating in a research note on Thursday, June 11th. Finally, Weiss Ratings cut Shutterstock from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday, May 4th. One equities research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, Shutterstock has an average rating of "Reduce" and an average price target of $7.00.

Shutterstock Stock Performance

NYSE SSTK opened at $7.43 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.51 and a quick ratio of 0.51. The firm has a market capitalization of $272.87 million, a price-to-earnings ratio of -12.81 and a beta of 1.06. The company's fifty day moving average is $13.12 and its two-hundred day moving average is $16.00. Shutterstock has a 52-week low of $7.17 and a 52-week high of $29.50.

Institutional Trading of Shutterstock

Large investors have recently added to or reduced their stakes in the company. Empowered Funds LLC acquired a new position in shares of Shutterstock in the 1st quarter worth approximately $180,000. Bank of America Corp DE boosted its stake in Shutterstock by 6.9% in the first quarter. Bank of America Corp DE now owns 303,539 shares of the business services provider's stock worth $5,042,000 after purchasing an additional 19,515 shares in the last quarter. Callodine Capital Management LP boosted its stake in 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 worth $21,130,000 after purchasing an additional 238,176 shares in the last quarter. Rice Hall James & Associates LLC grew its holdings in shares of Shutterstock by 7.3% during the first quarter. Rice Hall James & Associates LLC now owns 733,662 shares of the business services provider's stock worth $12,186,000 after purchasing an additional 50,200 shares during the last quarter. Finally, Bank of New York Mellon Corp grew 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 worth $7,094,000 after purchasing an additional 26,144 shares during the last quarter. 82.79% of the stock is 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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