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

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

SSTK has been the topic of several other research reports. Truist Financial lowered their target price on shares of Shutterstock from $65.00 to $56.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Morgan Stanley decreased their price target on Shutterstock from $58.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Monday, October 21st. Needham & Company LLC reduced their target price on Shutterstock from $55.00 to $45.00 and set a “buy” rating for the company in a report on Monday, January 13th. Finally, JMP Securities reiterated a “market perform” rating on shares of Shutterstock in a report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $50.33.

Shutterstock Stock Down 1.3 %

Shutterstock stock opened at $29.56 on Tuesday. The stock has a 50 day moving average of $30.70 and a two-hundred day moving average of $32.63. Shutterstock has a twelve month low of $27.30 and a twelve month high of $54.40. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of 28.98 and a beta of 1.08. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.23.

Hedge Funds Weigh In On Shutterstock

Several hedge funds have recently added to or reduced their stakes in the business. State Street Corp grew its position in shares of Shutterstock by 1.4% in the third quarter. State Street Corp now owns 966,694 shares of the business services provider’s stock valued at $34,192,000 after purchasing an additional 13,039 shares during the last quarter. Royce & Associates LP lifted its holdings in Shutterstock by 18.1% in the 4th quarter. Royce & Associates LP now owns 831,626 shares of the business services provider’s stock valued at $25,240,000 after purchasing an additional 127,399 shares in the last quarter. Geode Capital Management LLC boosted 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 worth $20,275,000 after acquiring an additional 25,050 shares during the last quarter. Rice Hall James & Associates LLC increased its stake in Shutterstock by 3.4% in the fourth quarter. Rice Hall James & Associates LLC now owns 547,520 shares of the business services provider’s stock valued at $16,617,000 after purchasing an additional 18,133 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Shutterstock by 9.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 351,204 shares of the business services provider’s stock valued at $10,659,000 after acquiring an additional 30,309 shares during the last quarter. 82.79% of the stock is currently owned by hedge funds and other institutional investors.

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.