Shutterstock (NYSE:SSTK) Now Covered by StockNews.com

Equities researchers at StockNews.com initiated coverage on shares of Shutterstock (NYSE:SSTK) in a research report issued on Wednesday. The brokerage set a “hold” rating on the business services provider’s stock.

A number of other analysts also recently weighed in on the stock. JMP Securities reissued a “market perform” rating on shares of Shutterstock in a report on Monday, January 6th. Needham & Company LLC reduced 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. Finally, Truist Financial reduced their price objective on shares of Shutterstock from $65.00 to $56.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $50.33.

Shutterstock Price Performance

Shares of Shutterstock stock opened at $28.02 on Wednesday. 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 fifty-two week low of $27.08 and a fifty-two week high of $54.40. The firm has a fifty day moving average price of $30.42 and a two-hundred day moving average price of $32.25. The company has a market cap of $976.81 million, a PE ratio of 27.47 and a beta of 1.08.

Institutional Trading of Shutterstock

Several institutional investors have recently made changes to their positions in SSTK. Truvestments Capital LLC acquired a new stake in shares of Shutterstock during the 3rd quarter valued at about $31,000. Amundi boosted its position in Shutterstock by 26.2% in the fourth quarter. Amundi now owns 2,350 shares of the business services provider’s stock valued at $71,000 after buying an additional 488 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Shutterstock by 167.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,499 shares of the business services provider’s stock valued at $76,000 after buying an additional 1,565 shares in the last quarter. R Squared Ltd acquired a new position in Shutterstock in the fourth quarter valued at about $108,000. Finally, Palouse Capital Management Inc. boosted its position in Shutterstock by 13.7% in the fourth 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 in the last quarter. 82.79% of the stock is currently owned by institutional investors and hedge funds.

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.