StockNews.com Begins Coverage on Shutterstock (NYSE:SSTK)

Equities research analysts at StockNews.com started coverage on shares of Shutterstock (NYSE:SSTK) in a research report issued to clients and investors on Tuesday. The brokerage set a “hold” rating on the business services provider’s stock.

Several other analysts have also weighed in on the company. Truist Financial cut their price objective on Shutterstock from $65.00 to $56.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Needham & Company LLC cut their price target on shares of Shutterstock from $55.00 to $45.00 and set a “buy” rating for the company in a report on Monday, January 13th. JMP Securities reaffirmed a “market perform” rating on shares of Shutterstock in a research note on Monday, January 6th. Finally, Morgan Stanley cut 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 issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $50.33.

Shutterstock Price Performance

NYSE SSTK opened at $31.07 on Tuesday. Shutterstock has a 12 month low of $27.30 and a 12 month high of $54.40. The firm has a market capitalization of $1.08 billion, a PE ratio of 30.46 and a beta of 1.08. The company’s 50 day simple moving average is $30.79 and its 200 day simple moving average is $32.80. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.42 and a quick ratio of 0.42.

Institutional Investors Weigh In On Shutterstock

A number of large investors have recently made changes to their positions in SSTK. FMR LLC raised its stake in Shutterstock by 397.5% during the 3rd quarter. FMR LLC now owns 39,193 shares of the business services provider’s stock valued at $1,386,000 after purchasing an additional 31,315 shares during the period. Geode Capital Management LLC raised its position in Shutterstock by 4.6% during the third quarter. Geode Capital Management LLC now owns 573,128 shares of the business services provider’s stock valued at $20,275,000 after buying an additional 25,050 shares during the period. Barclays PLC lifted its stake in Shutterstock by 238.6% in the 3rd quarter. Barclays PLC now owns 50,565 shares of the business services provider’s stock worth $1,788,000 after acquiring an additional 35,632 shares in the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new stake in Shutterstock during the 3rd quarter worth about $8,493,000. Finally, Harbor Capital Advisors Inc. grew its stake in Shutterstock by 110.7% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 34,588 shares of the business services provider’s stock valued at $1,223,000 after acquiring an additional 18,174 shares in the last quarter. Institutional investors and hedge funds 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.