Shutterstock (NYSE:SSTK) Upgraded by Citigroup to Buy Rating

Shutterstock (NYSE:SSTK) was upgraded by analysts at Citigroup from a “neutral” rating to a “buy” rating in a note issued to investors on Friday, Marketbeat.com reports.

Other research analysts also recently issued research reports about the company. Weiss Ratings downgraded Shutterstock from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 4th. Wall Street Zen downgraded Shutterstock from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Shutterstock currently has a consensus rating of “Hold”.

Shutterstock Trading Down 2.7%

SSTK opened at $13.18 on Friday. The business’s 50-day simple moving average is $16.47 and its 200-day simple moving average is $17.68. The company has a market cap of $484.16 million, a P/E ratio of -22.72 and a beta of 1.07. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.51 and a current ratio of 0.51. Shutterstock has a one year low of $13.03 and a one year high of $29.50.

Institutional Trading of Shutterstock

Several hedge funds have recently modified their holdings of the business. LSV Asset Management lifted its holdings in shares of Shutterstock by 1.1% in the 3rd quarter. LSV Asset Management now owns 1,601,253 shares of the business services provider’s stock valued at $33,386,000 after buying an additional 16,700 shares during the period. Callodine Capital Management LP lifted its holdings in shares of Shutterstock by 23.0% in the 1st quarter. Callodine Capital Management LP now owns 1,272,139 shares of the business services provider’s stock valued at $21,130,000 after buying an additional 238,176 shares during the period. State Street Corp lifted its holdings in shares of Shutterstock by 2.2% in the 4th quarter. State Street Corp now owns 966,891 shares of the business services provider’s stock valued at $18,468,000 after buying an additional 20,961 shares during the period. Alpine Associates Management Inc. lifted its holdings in shares of Shutterstock by 23.4% in the 3rd quarter. Alpine Associates Management Inc. now owns 902,461 shares of the business services provider’s stock valued at $18,816,000 after buying an additional 171,375 shares during the period. Finally, Balyasny Asset Management L.P. lifted its holdings in shares of Shutterstock by 229.7% in the 4th quarter. Balyasny Asset Management L.P. now owns 804,655 shares of the business services provider’s stock valued at $15,369,000 after buying an additional 560,617 shares during the period. 82.79% of the stock is owned by institutional investors and hedge funds.

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.