Shutterstock (NYSE:SSTK) Cut to “Strong Sell” at Zacks Research

Shutterstock (NYSE:SSTK) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Other equities research analysts have also issued research reports about the company. Weiss Ratings lowered Shutterstock from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 4th. Citigroup raised shares of Shutterstock from a “neutral” rating to a “buy” rating and set a $7.00 price target for the company in a research note on Friday, June 5th. Finally, Wall Street Zen downgraded shares of Shutterstock from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. One equities research analyst has rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $7.00.

Shutterstock Stock Performance

SSTK opened at $14.37 on Thursday. The business’s 50-day moving average price is $16.14 and its two-hundred day moving average price is $17.42. Shutterstock has a 1 year low of $12.78 and a 1 year high of $29.50. The company has a market capitalization of $527.99 million, a price-to-earnings ratio of -24.78 and a beta of 1.07. 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 Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. WealthCollab LLC grew its position in Shutterstock by 40.7% in the third quarter. WealthCollab LLC now owns 2,043 shares of the business services provider’s stock valued at $43,000 after purchasing an additional 591 shares in the last quarter. 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 valued at $257,000 after purchasing an additional 601 shares in the last quarter. Illinois Municipal Retirement Fund grew its position in Shutterstock by 5.1% in the third quarter. Illinois Municipal Retirement Fund now owns 12,852 shares of the business services provider’s stock valued at $268,000 after purchasing an additional 628 shares in the last quarter. Janney Montgomery Scott LLC grew its position in Shutterstock by 3.8% in the first quarter. Janney Montgomery Scott LLC now owns 18,096 shares of the business services provider’s stock valued at $301,000 after purchasing an additional 668 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its position in Shutterstock by 6.7% in the fourth quarter. Exchange Traded Concepts LLC now owns 13,558 shares of the business services provider’s stock valued at $259,000 after purchasing an additional 846 shares in the last quarter. Institutional investors own 82.79% of the company’s stock.

Shutterstock Company 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.