Shutterstock (NYSE:SSTK) Downgraded by Wall Street Zen to Sell

Wall Street Zen downgraded shares of Shutterstock (NYSE:SSTK) from a hold rating to a sell rating in a research report sent to investors on Sunday morning.

Several other equities research analysts have also weighed in on SSTK. Zacks Research raised Shutterstock from a “strong sell” rating to a “hold” rating in a research report on Friday, July 17th. Citigroup raised shares of Shutterstock from a “neutral” rating to a “buy” rating and set a $7.00 price target for the company in a report on Friday, June 5th. Finally, Weiss Ratings lowered shares of Shutterstock from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 4th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $7.00.

Shutterstock Stock Up 0.1%

Shares of Shutterstock stock opened at $5.58 on Friday. The stock has a market capitalization of $205.19 million, a price-to-earnings ratio of -9.63 and a beta of 1.06. Shutterstock has a twelve month low of $5.25 and a twelve month high of $29.50. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.22. The business’s 50 day simple moving average is $12.16 and its 200-day simple moving average is $15.56.

Institutional Trading of Shutterstock

Several large investors have recently added to or reduced their stakes in the business. WealthCollab LLC raised its stake in Shutterstock by 40.7% during the 3rd quarter. WealthCollab LLC now owns 2,043 shares of the business services provider’s stock valued at $43,000 after acquiring an additional 591 shares in the last quarter. New York State Teachers Retirement System grew its stake in shares of Shutterstock by 4.7% in the fourth quarter. New York State Teachers Retirement System now owns 13,437 shares of the business services provider’s stock worth $257,000 after purchasing an additional 601 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Shutterstock by 3.8% during the first quarter. Janney Montgomery Scott LLC now owns 18,096 shares of the business services provider’s stock valued at $301,000 after purchasing an additional 668 shares during the period. Exchange Traded Concepts LLC increased its holdings in shares of Shutterstock by 6.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 13,558 shares of the business services provider’s stock valued at $259,000 after purchasing an additional 846 shares during the period. Finally, Franklin Resources Inc. raised its stake in shares of Shutterstock by 8.9% during the third quarter. Franklin Resources Inc. now owns 11,218 shares of the business services provider’s stock valued at $234,000 after purchasing an additional 919 shares in the last quarter. 82.79% of the stock is currently owned by institutional investors and hedge funds.

About Shutterstock

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.