Shutterstock (NYSE:SSTK) Earns Hold Rating from Analysts at StockNews.com

Equities research analysts at StockNews.com began coverage on shares of Shutterstock (NYSE:SSTK) in a research note issued on Monday. The firm set a “hold” rating on the business services provider’s stock.

Several other equities analysts have also recently issued reports on the stock. Needham & Company LLC lowered their target price on shares of Shutterstock from $55.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. JMP Securities restated a “market perform” rating on shares of Shutterstock in a research report on Monday, January 6th. Truist Financial dropped their target price on shares of Shutterstock from $65.00 to $56.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Finally, Morgan Stanley decreased their target price on shares of Shutterstock from $58.00 to $50.00 and set an “equal weight” rating for the company in a research note on Monday, October 21st. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $50.33.

Shutterstock Stock Up 1.4 %

SSTK stock opened at $29.78 on Monday. The stock has a market capitalization of $1.04 billion, a P/E ratio of 29.19 and a beta of 1.08. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.42 and a quick ratio of 0.42. Shutterstock has a 1-year low of $27.30 and a 1-year high of $54.40. The business has a fifty day moving average price of $30.84 and a 200-day moving average price of $33.01.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp raised its holdings in Shutterstock by 1.4% in the 3rd quarter. State Street Corp now owns 966,694 shares of the business services provider’s stock worth $34,192,000 after purchasing an additional 13,039 shares during the period. Geode Capital Management LLC increased its position in Shutterstock by 4.6% in the third quarter. Geode Capital Management LLC now owns 573,128 shares of the business services provider’s stock worth $20,275,000 after buying an additional 25,050 shares in the last quarter. Rice Hall James & Associates LLC raised its stake in shares of Shutterstock by 3.4% in the fourth quarter. Rice Hall James & Associates LLC now owns 547,520 shares of the business services provider’s stock worth $16,617,000 after buying an additional 18,133 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Shutterstock by 4.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 320,895 shares of the business services provider’s stock valued at $11,350,000 after buying an additional 13,539 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC bought a new position in shares of Shutterstock during the 3rd quarter valued at approximately $8,493,000. Hedge funds and other institutional investors own 82.79% of the company’s stock.

Shutterstock Company Profile

Shutterstock, Inc provides platform to connect brands and businesses to high quality content in North America, Europe, and internationally. The company offers image services consisting of photographs, vectors, and illustrations, which is used in visual communications, such as websites, digital and print marketing materials, corporate communications, books, publications, and others; footage services, including video clips, filmed by industry experts and cinema grade video effects in HD and 4K formats that are integrated into websites, social media, marketing campaigns, and cinematic productions; and music services comprising music tracks and sound effects, which are used to complement images and footage.