Wall Street Zen Downgrades Shutterstock (NYSE:SSTK) to Sell

Shutterstock (NYSE:SSTK) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Sunday.

Several other equities analysts also recently weighed in on the company. Weiss Ratings downgraded Shutterstock from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 4th. Zacks Research upgraded Shutterstock from a “strong sell” rating to a “hold” rating in a research report on Friday, July 17th. Finally, Citigroup raised 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $7.00.

Shutterstock Trading Up 5.7%

SSTK stock opened at $5.90 on Friday. Shutterstock has a 12-month low of $5.25 and a 12-month high of $29.50. The business’s 50-day moving average is $11.94 and its 200 day moving average is $15.46. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.22. The stock has a market cap of $216.73 million, a price-to-earnings ratio of -10.17 and a beta of 1.06.

Institutional Trading of Shutterstock

A number of hedge funds have recently bought and sold shares of the business. WealthCollab LLC boosted its holdings in shares of Shutterstock by 106.2% during the 2nd quarter. WealthCollab LLC now owns 1,452 shares of the business services provider’s stock worth $28,000 after purchasing an additional 748 shares during the last quarter. Osaic Holdings Inc. lifted its position in Shutterstock by 150.6% during the second quarter. Osaic Holdings Inc. now owns 1,772 shares of the business services provider’s stock worth $34,000 after buying an additional 1,065 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in Shutterstock by 72.7% during the second quarter. Tower Research Capital LLC TRC now owns 3,297 shares of the business services provider’s stock worth $63,000 after buying an additional 1,388 shares in the last quarter. Quadrant Capital Group LLC acquired a new position in Shutterstock during the third quarter worth $111,000. Finally, Covestor Ltd boosted its stake in Shutterstock by 87.7% during the fourth quarter. Covestor Ltd now owns 5,538 shares of the business services provider’s stock worth $106,000 after buying an additional 2,587 shares during the last quarter. Institutional investors and hedge funds 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.