ValuEngine Downgrades Shutterstock (NYSE:SSTK) to Sell

ValuEngine downgraded shares of Shutterstock (NYSE:SSTK) from a hold rating to a sell rating in a research note issued to investors on Friday, February 2nd.

SSTK has been the subject of several other reports. Jefferies Group increased their price target on shares of Shutterstock from $30.00 to $34.00 and gave the stock an underperform rating in a report on Wednesday, November 1st. BidaskClub upgraded shares of Shutterstock from a strong sell rating to a sell rating in a research report on Saturday, October 28th. Zacks Investment Research lowered shares of Shutterstock from a buy rating to a hold rating in a research report on Friday, January 5th. Finally, Cantor Fitzgerald restated a hold rating and set a $40.00 target price on shares of Shutterstock in a research report on Tuesday, October 31st. Three equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. The company has a consensus rating of Hold and an average target price of $39.17.

Shutterstock (NYSE SSTK) opened at $44.80 on Friday. The stock has a market cap of $1,522.58, a PE ratio of 55.58 and a beta of 1.54. Shutterstock has a 1-year low of $29.85 and a 1-year high of $55.07.

Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in shares of Shutterstock by 6.2% in the fourth quarter. BlackRock Inc. now owns 2,373,497 shares of the business services provider’s stock valued at $102,131,000 after purchasing an additional 137,849 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Shutterstock by 0.3% in the second quarter. Vanguard Group Inc. now owns 1,674,695 shares of the business services provider’s stock valued at $73,821,000 after purchasing an additional 5,258 shares during the last quarter. Van Berkom & Associates Inc. grew its position in shares of Shutterstock by 24.1% in the third quarter. Van Berkom & Associates Inc. now owns 1,580,964 shares of the business services provider’s stock valued at $52,630,000 after purchasing an additional 307,357 shares during the last quarter. Schroder Investment Management Group grew its position in shares of Shutterstock by 98.6% in the fourth quarter. Schroder Investment Management Group now owns 556,747 shares of the business services provider’s stock valued at $23,956,000 after purchasing an additional 276,377 shares during the last quarter. Finally, Janus Henderson Group PLC acquired a new stake in shares of Shutterstock in the second quarter valued at approximately $20,224,000. Institutional investors and hedge funds own 59.58% of the company’s stock.

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About Shutterstock

Shutterstock, Inc (Shutterstock) is a global technology company that operates a two-sided marketplace for professionals to license content. The Company’s library of content includes digital imagery, which consists of 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, which consists of music tracks and sound effects and which is often used to complement digital imagery.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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