Zacks Investment Research upgraded shares of Shutterstock (NYSE:SSTK) from a sell rating to a hold rating in a research note published on Saturday morning.
According to Zacks, “Shutterstock, Inc. is a global marketplace for digital imagery. It provides licensed photographs, vectors, illustrations and videos to businesses, marketing agencies and media organizations around the world. The Company’s online marketplace provides a freely searchable library of commercial digital images that the users can pay to license, download and incorporate into their work. Shutterstock, Inc. is headquartered in New York. “
NYSE SSTK opened at $46.46 on Friday. Shutterstock has a twelve month low of $31.77 and a twelve month high of $55.76. The company has a market cap of $1.62 billion, a price-to-earnings ratio of 44.25, a PEG ratio of 1.78 and a beta of 1.30.
In other news, insider Martin Brodbeck sold 5,677 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $46.48, for a total transaction of $263,866.96. Following the transaction, the insider now directly owns 41,619 shares in the company, valued at approximately $1,934,451.12. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 47.20% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Bronfman E.L. Rothschild L.P. boosted its holdings in Shutterstock by 56.6% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 855 shares of the business services provider’s stock worth $31,000 after purchasing an additional 309 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Shutterstock by 56.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,324 shares of the business services provider’s stock worth $48,000 after purchasing an additional 476 shares in the last quarter. NumerixS Investment Technologies Inc bought a new stake in Shutterstock in the fourth quarter worth $82,000. Point72 Hong Kong Ltd bought a new stake in Shutterstock in the third quarter worth $170,000. Finally, Stone Ridge Asset Management LLC bought a new stake in Shutterstock in the third quarter worth $223,000. Institutional investors and hedge funds own 55.37% of the company’s stock.
Shutterstock, Inc provides content products and services in North America, Europe, and internationally. It offers digital imagery services, which include licensed photographs, vectors, illustrations, and video clips that customers use in their visual communications, such as Websites, digital and print marketing materials, corporate communications, books, publications, and video content; and commercial music services comprising music tracks and sound effects that are used to complement digital imagery.
Read More: What is channel trading?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Shutterstock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shutterstock and related companies with MarketBeat.com's FREE daily email newsletter.