Shutterstock (NYSE:SSTK – Get Free Report) was upgraded by equities researchers at Citigroup from a “neutral” rating to a “buy” rating in a research note issued to investors on Friday, MarketBeat.com reports.
SSTK has been the subject of a number of other research reports. Weiss Ratings downgraded Shutterstock from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 4th. Wall Street Zen downgraded Shutterstock from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.
View Our Latest Stock Report on Shutterstock
Shutterstock Price Performance
Institutional Investors Weigh In On Shutterstock
A number of institutional investors have recently added to or reduced their stakes in SSTK. Bank of America Corp DE boosted its position in shares of Shutterstock by 6.9% in the first quarter. Bank of America Corp DE now owns 303,539 shares of the business services provider’s stock worth $5,042,000 after buying an additional 19,515 shares during the period. Empowered Funds LLC acquired a new stake in Shutterstock during the first quarter valued at approximately $180,000. Callodine Capital Management LP raised its stake in Shutterstock by 23.0% during the first quarter. Callodine Capital Management LP now owns 1,272,139 shares of the business services provider’s stock valued at $21,130,000 after buying an additional 238,176 shares in the last quarter. Rice Hall James & Associates LLC raised its stake in Shutterstock by 7.3% during the first quarter. Rice Hall James & Associates LLC now owns 733,662 shares of the business services provider’s stock valued at $12,186,000 after buying an additional 50,200 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Shutterstock by 6.5% during the first quarter. Bank of New York Mellon Corp now owns 427,114 shares of the business services provider’s stock valued at $7,094,000 after buying an additional 26,144 shares in the last quarter. Hedge funds and other institutional investors 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.
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