Shutterstock Inc (NYSE:SSTK)’s share price reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $36.20 and last traded at $37.68, with a volume of 6608 shares. The stock had previously closed at $37.57.
A number of research firms have recently issued reports on SSTK. ValuEngine upgraded Shutterstock from a “hold” rating to a “buy” rating in a report on Tuesday, October 2nd. Deutsche Bank increased their target price on Shutterstock from $40.00 to $43.00 and gave the company a “hold” rating in a report on Wednesday, August 15th. Jefferies Financial Group restated a “sell” rating and set a $44.00 target price on shares of Shutterstock in a report on Thursday, August 2nd. Finally, SunTrust Banks restated a “hold” rating and set a $48.00 target price on shares of Shutterstock in a report on Wednesday, August 1st. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the stock. Shutterstock presently has a consensus rating of “Hold” and an average target price of $42.33.
The firm has a market cap of $1.30 billion, a price-to-earnings ratio of 52.17, a PEG ratio of 1.95 and a beta of 1.54.
A number of hedge funds have recently modified their holdings of SSTK. Cutler Group LP boosted its holdings in Shutterstock by 357.1% during the 2nd quarter. Cutler Group LP now owns 2,571 shares of the business services provider’s stock valued at $122,000 after acquiring an additional 3,571 shares during the period. Point72 Hong Kong Ltd bought a new position in Shutterstock during the 3rd quarter valued at approximately $170,000. SG Americas Securities LLC bought a new position in Shutterstock during the 2nd quarter valued at approximately $204,000. Piedmont Investment Advisors LLC bought a new position in Shutterstock during the 2nd quarter valued at approximately $205,000. Finally, Stone Ridge Asset Management LLC bought a new position in Shutterstock during the 3rd quarter valued at approximately $223,000. Institutional investors own 53.47% of the company’s stock.
Shutterstock Company Profile (NYSE:SSTK)
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.
Receive News & Ratings for Shutterstock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shutterstock and related companies with MarketBeat.com's FREE daily email newsletter.