Shutterstock, Inc. $SSTK Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC cut its holdings in shares of Shutterstock, Inc. (NYSE:SSTK) by 59.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 81,301 shares of the business services provider’s stock after selling 121,000 shares during the quarter. Renaissance Technologies LLC owned about 0.22% of Shutterstock worth $1,350,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. WealthCollab LLC grew its holdings in Shutterstock by 40.7% in the 3rd quarter. WealthCollab LLC now owns 2,043 shares of the business services provider’s stock valued at $43,000 after buying an additional 591 shares during the period. New York State Teachers Retirement System lifted its holdings in shares of Shutterstock by 4.7% during the 4th quarter. New York State Teachers Retirement System now owns 13,437 shares of the business services provider’s stock worth $257,000 after acquiring an additional 601 shares during the period. Janney Montgomery Scott LLC boosted its position in shares of Shutterstock by 3.8% in the first quarter. Janney Montgomery Scott LLC now owns 18,096 shares of the business services provider’s stock worth $301,000 after acquiring an additional 668 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Shutterstock by 8.9% in the third quarter. Franklin Resources Inc. now owns 11,218 shares of the business services provider’s stock worth $234,000 after acquiring an additional 919 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Shutterstock by 0.8% in the third quarter. JPMorgan Chase & Co. now owns 116,070 shares of the business services provider’s stock valued at $2,420,000 after purchasing an additional 953 shares during the period. 82.79% of the stock is owned by institutional investors and hedge funds.

Shutterstock Stock Up 3.8%

Shares of NYSE SSTK opened at $5.85 on Friday. The stock has a fifty day moving average price of $9.52 and a 200 day moving average price of $14.27. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.22. Shutterstock, Inc. has a 12-month low of $5.17 and a 12-month high of $29.50. The company has a market cap of $216.23 million, a P/E ratio of -1.04 and a beta of 1.11.

Analysts Set New Price Targets

Several brokerages recently commented on SSTK. 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 research report on Friday, June 5th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Shutterstock in a report on Friday, July 31st. Zacks Research raised shares of Shutterstock from a “strong sell” rating to a “hold” rating in a research note on Friday, July 17th. Finally, Wall Street Zen downgraded Shutterstock from a “hold” rating to a “sell” rating in a report on Sunday, July 26th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Shutterstock has an average rating of “Hold” and a consensus price target of $7.00.

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.