Zacks Investment Research upgraded shares of Shutterstock (NYSE:SSTK) from a sell rating to a hold rating in a research note issued to investors on Saturday morning.
According to Zacks, “Shutterstock, Inc. is a global marketplace for digital imagery. It provides licensed photographs, vectors, illustrations and videos to businesses, marketing agencies and media organizations around the world. The Company’s online marketplace provides a freely searchable library of commercial digital images that the users can pay to license, download and incorporate into their work. Shutterstock, Inc. is headquartered in New York. “
Shares of Shutterstock stock opened at $46.19 on Friday. The firm has a market cap of $1.62 billion, a P/E ratio of 43.99, a price-to-earnings-growth ratio of 1.78 and a beta of 1.30. Shutterstock has a 12 month low of $31.77 and a 12 month high of $55.76.
In related news, insider Martin Brodbeck sold 5,677 shares of Shutterstock stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $46.48, for a total transaction of $263,866.96. Following the sale, the insider now directly owns 41,619 shares in the company, valued at $1,934,451.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 47.20% of the company’s stock.
A number of institutional investors have recently modified their holdings of SSTK. Bank of New York Mellon Corp lifted its holdings in Shutterstock by 3.0% during the second quarter. Bank of New York Mellon Corp now owns 299,970 shares of the business services provider’s stock worth $14,237,000 after acquiring an additional 8,722 shares during the period. First Trust Advisors LP bought a new stake in shares of Shutterstock in the third quarter valued at $716,000. Stone Ridge Asset Management LLC bought a new stake in shares of Shutterstock in the third quarter valued at $223,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Shutterstock in the third quarter valued at $241,000. Finally, Van Berkom & Associates Inc. raised its stake in shares of Shutterstock by 1.2% in the third quarter. Van Berkom & Associates Inc. now owns 1,329,082 shares of the business services provider’s stock valued at $71,541,000 after buying an additional 15,750 shares during the period. Institutional investors and hedge funds own 55.37% of the company’s stock.
Shutterstock, Inc provides content products and services in North America, Europe, and internationally. It offers digital imagery services, which include 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 services comprising music tracks and sound effects that are used to complement digital imagery.
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