Shutterstock (NYSE:SSTK) Earns Hold Rating from Analysts at StockNews.com

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

SSTK has been the subject of a number of other research reports. Needham & Company LLC dropped their price objective on Shutterstock from $55.00 to $45.00 and set a “buy” rating for the company in a research note on Monday, January 13th. JMP Securities reissued a “market perform” rating on shares of Shutterstock in a research note on Monday, January 6th. Finally, Truist Financial dropped their price objective on Shutterstock from $65.00 to $56.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $50.33.

Shutterstock Stock Performance

NYSE:SSTK opened at $28.02 on Wednesday. The firm has a market cap of $976.81 million, a PE ratio of 27.47 and a beta of 1.08. Shutterstock has a fifty-two week low of $27.08 and a fifty-two week high of $54.40. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.42 and a current ratio of 0.42. The business has a 50 day moving average price of $30.42 and a 200-day moving average price of $32.25.

Hedge Funds Weigh In On Shutterstock

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Shutterstock by 13.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,769 shares of the business services provider’s stock valued at $1,753,000 after acquiring an additional 7,023 shares in the last quarter. Vident Advisory LLC raised its holdings in Shutterstock by 9.1% in the fourth quarter. Vident Advisory LLC now owns 15,857 shares of the business services provider’s stock worth $481,000 after purchasing an additional 1,321 shares in the last quarter. Squarepoint Ops LLC raised its holdings in Shutterstock by 83.9% in the fourth quarter. Squarepoint Ops LLC now owns 77,212 shares of the business services provider’s stock worth $2,343,000 after purchasing an additional 35,235 shares in the last quarter. Two Sigma Advisers LP raised its holdings in Shutterstock by 111.7% in the fourth quarter. Two Sigma Advisers LP now owns 34,500 shares of the business services provider’s stock worth $1,047,000 after purchasing an additional 18,200 shares in the last quarter. Finally, Two Sigma Investments LP raised its holdings in Shutterstock by 1,702.3% in the fourth quarter. Two Sigma Investments LP now owns 125,441 shares of the business services provider’s stock worth $3,807,000 after purchasing an additional 118,481 shares in the last quarter. Institutional investors own 82.79% of the company’s stock.

About Shutterstock

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.