Rice Hall James & Associates LLC Acquires New Stake in Shutterstock, Inc. $SSTK

Rice Hall James & Associates LLC bought a new stake in Shutterstock, Inc. (NYSE:SSTK) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 757,841 shares of the business services provider’s stock, valued at approximately $10,572,000.

Several other institutional investors and hedge funds have also bought and sold shares of SSTK. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Shutterstock by 12.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,901 shares of the business services provider’s stock valued at $557,000 after purchasing an additional 3,263 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Shutterstock by 109.3% in the first quarter. Millennium Management LLC now owns 626,615 shares of the business services provider’s stock worth $11,674,000 after buying an additional 327,203 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Shutterstock by 22.4% in the second quarter. JPMorgan Chase & Co. now owns 115,117 shares of the business services provider’s stock worth $2,183,000 after buying an additional 21,083 shares during the last quarter. Franklin Resources Inc. bought a new stake in Shutterstock during the second quarter valued at approximately $195,000. Finally, Prudential Financial Inc. grew its position in Shutterstock by 6.1% during the second quarter. Prudential Financial Inc. now owns 25,824 shares of the business services provider’s stock valued at $490,000 after buying an additional 1,490 shares during the period. 82.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on SSTK shares. Weiss Ratings cut shares of Shutterstock from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday. Zacks Research upgraded shares of Shutterstock from a “strong sell” rating to a “hold” rating in a research note on Friday, July 17th. Wall Street Zen downgraded shares of Shutterstock from a “hold” rating to a “sell” rating in a research report on Sunday, July 26th. Finally, Citigroup upgraded Shutterstock from a “neutral” rating to a “buy” rating and set a $7.00 price objective for the company in a research note on Friday, June 5th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Shutterstock has a consensus rating of “Hold” and an average target price of $7.00.

Shutterstock Trading Down 5.1%

Shares of NYSE:SSTK opened at $5.40 on Tuesday. The stock has a 50 day moving average of $9.22 and a 200 day moving average of $14.07. The company has a market cap of $199.53 million, a PE ratio of -0.96 and a beta of 1.11. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.32. Shutterstock, Inc. has a 12-month low of $5.17 and a 12-month high of $29.50.

Shutterstock Profile

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.