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

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

Other analysts have also recently issued research reports about the stock. Wall Street Zen cut shares of Shutterstock from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Citigroup upgraded 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, Weiss Ratings cut shares of Shutterstock from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 4th. One analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Shutterstock currently has a consensus rating of “Reduce” and a consensus target price of $7.00.

Shutterstock Stock Performance

Shares of SSTK stock opened at $14.37 on Thursday. The stock has a market cap of $527.99 million, a P/E 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. The company has a fifty day moving average price of $16.14 and a two-hundred day moving average price of $17.42. Shutterstock has a one year low of $12.78 and a one year high of $29.50.

Institutional Trading of Shutterstock

A number of hedge funds have recently modified their holdings of SSTK. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake 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 worth $557,000 after buying an additional 3,263 shares during the last quarter. Millennium Management LLC raised its stake in Shutterstock by 109.3% in the 1st quarter. Millennium Management LLC now owns 626,615 shares of the business services provider’s stock worth $11,674,000 after purchasing an additional 327,203 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Shutterstock by 22.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 115,117 shares of the business services provider’s stock worth $2,183,000 after purchasing an additional 21,083 shares in the last quarter. Franklin Resources Inc. acquired a new stake in Shutterstock in the 2nd quarter worth about $195,000. Finally, Prudential Financial Inc. raised its stake in Shutterstock by 6.1% in the 2nd quarter. Prudential Financial Inc. now owns 25,824 shares of the business services provider’s stock worth $490,000 after purchasing an additional 1,490 shares in the last quarter. Institutional investors and hedge funds 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.