Shutterstock (NYSE:SSTK) Cut to Sell at Wall Street Zen

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

Other equities analysts also recently issued research reports about the company. Citigroup raised Shutterstock from a “neutral” rating to a “buy” rating and set a $7.00 price objective on the stock in a research report on Friday, June 5th. Weiss Ratings downgraded Shutterstock from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 4th. Finally, Zacks Research raised shares of Shutterstock from a “strong sell” rating to a “hold” rating in a research note on Friday, July 17th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Shutterstock has a consensus rating of “Hold” and a consensus price target of $7.00.

Shutterstock Trading Up 1.6%

Shares of NYSE SSTK opened at $5.99 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.51 and a current ratio of 0.51. The business’s 50 day moving average price is $11.75 and its 200-day moving average price is $15.37. Shutterstock has a fifty-two week low of $5.25 and a fifty-two week high of $29.50. The company has a market cap of $219.88 million, a price-to-earnings ratio of -10.32 and a beta of 1.06.

Institutional Trading of Shutterstock

Large investors have recently modified their holdings of the company. WealthCollab LLC raised its position in shares of Shutterstock by 40.7% during 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 grew its position in Shutterstock by 4.7% in the fourth 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 increased its stake in Shutterstock by 3.8% during 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. Exchange Traded Concepts LLC increased its stake in Shutterstock by 6.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 13,558 shares of the business services provider’s stock worth $259,000 after acquiring an additional 846 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in Shutterstock by 8.9% in the third quarter. Franklin Resources Inc. now owns 11,218 shares of the business services provider’s stock valued at $234,000 after purchasing an additional 919 shares during the period. Hedge funds and other institutional investors 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.