Shutterstock (NYSE:SSTK) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Shutterstock (NYSE:SSTK) from a sell rating to a hold rating in a research note issued to investors on Saturday.

A number of other brokerages also recently issued reports on SSTK. Weiss Ratings downgraded shares of Shutterstock from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 4th. Zacks Research cut shares of Shutterstock from a “hold” rating to a “strong sell” rating in a report on Thursday, June 11th. Finally, Citigroup upgraded Shutterstock from a “neutral” rating to a “buy” rating and set a $7.00 target price on the stock in a research report on Friday, June 5th. One analyst has rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $7.00.

Shutterstock Price Performance

Shares of NYSE SSTK opened at $7.67 on Friday. The stock has a market capitalization of $281.98 million, a price-to-earnings ratio of -13.23 and a beta of 1.06. Shutterstock has a 12 month low of $7.17 and a 12 month high of $29.50. The firm’s 50 day simple moving average is $12.94 and its 200-day simple moving average is $15.91. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.51 and a quick ratio of 0.51.

Institutional Investors Weigh In On Shutterstock

Institutional investors have recently added to or reduced their stakes in the stock. WealthCollab LLC raised its position in Shutterstock by 106.2% during the second quarter. WealthCollab LLC now owns 1,452 shares of the business services provider’s stock worth $28,000 after acquiring an additional 748 shares during the period. Osaic Holdings Inc. increased its stake in shares of Shutterstock by 150.6% during the second quarter. Osaic Holdings Inc. now owns 1,772 shares of the business services provider’s stock worth $34,000 after purchasing an additional 1,065 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Shutterstock by 72.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,297 shares of the business services provider’s stock worth $63,000 after purchasing an additional 1,388 shares during the last quarter. Fifth Third Bancorp raised its position in shares of Shutterstock by 865.9% during the 1st quarter. Fifth Third Bancorp now owns 6,346 shares of the business services provider’s stock worth $105,000 after purchasing an additional 5,689 shares during the last quarter. Finally, Covestor Ltd lifted its stake in Shutterstock by 87.7% in the 4th quarter. Covestor Ltd now owns 5,538 shares of the business services provider’s stock valued at $106,000 after buying an additional 2,587 shares in the last quarter. Institutional investors and hedge funds own 82.79% of the company’s stock.

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.