Shutterstock (NYSE:SSTK) Coverage Initiated at StockNews.com

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

A number of other analysts have also weighed in on SSTK. Morgan Stanley cut their price objective on Shutterstock from $58.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Monday, October 21st. Needham & Company LLC cut their price objective on Shutterstock from $55.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. JMP Securities reaffirmed a “market perform” rating on shares of Shutterstock in a research report on Monday, January 6th. Finally, Truist Financial dropped their target price on Shutterstock from $65.00 to $56.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $50.33.

Shutterstock Stock Up 2.7 %

Shares of NYSE SSTK opened at $29.53 on Monday. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of 28.95 and a beta of 1.08. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.23. Shutterstock has a 52-week low of $27.30 and a 52-week high of $54.40. The business’s 50 day moving average is $30.93 and its two-hundred day moving average is $33.17.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company raised its holdings in Shutterstock by 2.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,575 shares of the business services provider’s stock valued at $487,000 after acquiring an additional 309 shares during the last quarter. Covestor Ltd grew its stake in shares of Shutterstock by 9.5% during the 3rd quarter. Covestor Ltd now owns 4,577 shares of the business services provider’s stock valued at $162,000 after buying an additional 397 shares during the period. Palouse Capital Management Inc. grew its stake in shares of Shutterstock by 13.7% during the 4th quarter. Palouse Capital Management Inc. now owns 4,357 shares of the business services provider’s stock valued at $132,000 after buying an additional 525 shares during the period. Harbor Capital Advisors Inc. grew its stake in shares of Shutterstock by 1.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 35,120 shares of the business services provider’s stock valued at $1,066,000 after buying an additional 532 shares during the period. Finally, Truvestments Capital LLC purchased a new stake in shares of Shutterstock during the 3rd quarter valued at $31,000. 82.79% of the stock is currently owned by institutional investors and hedge funds.

About Shutterstock

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.