Manning & Napier Advisors LLC acquired a new position in shares of Shutterstock, Inc. (NYSE:SSTK – Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 97,196 shares of the business services provider’s stock, valued at approximately $1,356,000. Manning & Napier Advisors LLC owned about 0.26% of Shutterstock at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. WealthCollab LLC boosted its stake in Shutterstock by 106.2% during the second quarter. WealthCollab LLC now owns 1,452 shares of the business services provider’s stock worth $28,000 after buying an additional 748 shares during the period. Osaic Holdings Inc. raised its stake in shares of Shutterstock by 150.6% in the 2nd quarter. Osaic Holdings Inc. now owns 1,772 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 1,065 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of Shutterstock by 72.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,297 shares of the business services provider’s stock worth $63,000 after acquiring an additional 1,388 shares during the last quarter. Quadrant Capital Group LLC acquired a new position in shares of Shutterstock in the 3rd quarter worth approximately $111,000. Finally, Covestor Ltd boosted its position in shares of Shutterstock by 87.7% during the 4th quarter. Covestor Ltd now owns 5,538 shares of the business services provider’s stock worth $106,000 after purchasing an additional 2,587 shares during the period. 82.79% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several analysts recently weighed in on SSTK shares. Wall Street Zen downgraded shares of Shutterstock from a “hold” rating to a “sell” rating in a report on Sunday, July 26th. 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. Zacks Research upgraded Shutterstock from a “strong sell” rating to a “hold” rating in a report on Friday, July 17th. Finally, Weiss Ratings cut Shutterstock from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, August 13th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Shutterstock presently has a consensus rating of “Hold” and an average target price of $7.00.
Shutterstock Price Performance
Shutterstock stock opened at $5.54 on Wednesday. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.32. Shutterstock, Inc. has a 52-week low of $5.17 and a 52-week high of $29.50. The firm has a market cap of $204.78 million, a PE ratio of -0.98 and a beta of 1.11. The company’s 50 day moving average is $8.21 and its two-hundred day moving average is $13.48.
Shutterstock 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.
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