Shutterstock (NYSE:SSTK) Shares Cross Below 200-Day Moving Average – Here’s What Happened

Shutterstock, Inc. (NYSE:SSTK)’s stock price crossed below its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $11.48 and traded as low as $3.88. Shutterstock shares last traded at $4.0550, with a volume of 994,553 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SSTK shares. Weiss Ratings cut shares of Shutterstock from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, August 13th. Zacks Research raised shares of Shutterstock from a “strong sell” rating to a “hold” rating in a research note on Friday, July 17th. Wall Street Zen lowered shares of Shutterstock from a “hold” rating to a “sell” rating in a report on Sunday, July 26th. Finally, Citigroup raised shares of Shutterstock from a “neutral” rating to a “buy” rating and set a $7.00 price objective for the company in a research report on Friday, June 5th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $7.00.

Shutterstock Trading Up 5.3%

The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.32. The business’s 50 day moving average is $5.39 and its 200-day moving average is $11.40. The firm has a market cap of $156.48 million, a P/E ratio of -0.74 and a beta of 1.10.

Institutional Investors Weigh In On Shutterstock

Several hedge funds and other institutional investors have recently modified their holdings of SSTK. Corient Private Wealth LP bought a new position in shares of Shutterstock during the second quarter worth about $640,000. Wellington Management Group LLP bought a new stake in Shutterstock in the second quarter valued at about $190,000. Empowered Funds LLC bought a new stake in Shutterstock in the second quarter valued at about $150,000. Caitlin John LLC acquired a new stake in Shutterstock during the second quarter valued at approximately $122,000. Finally, Bank of America Corp DE bought a new position in Shutterstock during the 2nd quarter worth approximately $4,257,000. Institutional investors own 82.79% of the company’s stock.

About Shutterstock

Shutterstock, Inc (NYSE:SSTK) is a global provider of creative content, technology and data solutions. The company operates an online marketplace that gives businesses, marketing agencies, media organizations and individual creators access to licensed images, video footage, music, illustrations, vectors and other visual assets.

Through its portfolio of brands and products, Shutterstock also offers creative workflow tools, generative artificial intelligence capabilities, 3D content and related services.