Shutterstock (NYSE:SSTK) Coverage Initiated at StockNews.com

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

A number of other analysts have also weighed in on SSTK. Needham & Company LLC lowered their target price 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 report on Monday, January 6th. Finally, Truist Financial dropped their target price on shares of Shutterstock from $65.00 to $56.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $50.33.

Shutterstock Stock Down 2.3 %

NYSE SSTK opened at $26.33 on Wednesday. The stock’s 50 day simple moving average is $30.10 and its 200 day simple moving average is $32.09. Shutterstock has a one year low of $26.29 and a one year high of $54.40. The firm has a market cap of $917.86 million, a PE ratio of 25.81 and a beta of 1.08. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.42 and a quick ratio of 0.42.

Institutional Trading of Shutterstock

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership bought a new position in shares of Shutterstock in the 4th quarter valued at about $9,903,000. Hotchkis & Wiley Capital Management LLC acquired a new position in Shutterstock in the third quarter valued at approximately $8,493,000. Dimensional Fund Advisors LP lifted its holdings in Shutterstock by 22.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,018,231 shares of the business services provider’s stock valued at $30,904,000 after buying an additional 189,015 shares during the period. Rice Hall James & Associates LLC boosted its stake in Shutterstock by 40.7% in the third quarter. Rice Hall James & Associates LLC now owns 529,387 shares of the business services provider’s stock valued at $18,724,000 after acquiring an additional 153,154 shares during the last quarter. Finally, Invenomic Capital Management LP grew its holdings in Shutterstock by 28.1% during the 4th quarter. Invenomic Capital Management LP now owns 601,490 shares of the business services provider’s stock worth $18,255,000 after acquiring an additional 132,055 shares during the period. 82.79% of the stock is currently owned by institutional investors and hedge funds.

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.