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

Equities research analysts 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.

A number of other equities analysts also recently commented on the company. JMP Securities restated a “market perform” rating on shares of Shutterstock in a report on Monday, January 6th. Needham & Company LLC dropped their price target on shares of Shutterstock from $55.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Truist Financial reduced their price objective 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. Finally, Morgan Stanley lowered their target price on shares of Shutterstock from $58.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Monday, October 21st. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Shutterstock presently has a consensus rating of “Hold” and a consensus price target of $50.33.

Shutterstock Price Performance

SSTK opened at $31.07 on Tuesday. The stock has a fifty day moving average price of $30.79 and a 200 day moving average price of $32.80. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.23. Shutterstock has a 1 year low of $27.30 and a 1 year high of $54.40. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of 30.46 and a beta of 1.08.

Institutional Trading of Shutterstock

Large investors have recently modified their holdings of the company. Royce & Associates LP lifted its position in Shutterstock by 18.1% during the 4th quarter. Royce & Associates LP now owns 831,626 shares of the business services provider’s stock worth $25,240,000 after acquiring an additional 127,399 shares during the last quarter. Amundi increased its stake in shares of Shutterstock by 26.2% in the fourth quarter. Amundi now owns 2,350 shares of the business services provider’s stock worth $71,000 after purchasing an additional 488 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Shutterstock by 167.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,499 shares of the business services provider’s stock worth $76,000 after purchasing an additional 1,565 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Shutterstock during the 4th quarter valued at approximately $1,400,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in Shutterstock by 9.4% in 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 buying an additional 30,309 shares during the last quarter. 82.79% of the stock is owned by institutional investors.

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.