Renaissance Technologies LLC Decreases Stock Position in Shutterstock, Inc. $SSTK

Renaissance Technologies LLC decreased its position in Shutterstock, Inc. (NYSE:SSTK) by 59.8% in the 1st quarter, Holdings Channel reports. The fund owned 81,301 shares of the business services provider’s stock after selling 121,000 shares during the period. Renaissance Technologies LLC’s holdings in Shutterstock were worth $1,350,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in SSTK. WealthCollab LLC lifted its position in shares of Shutterstock by 40.7% during the third quarter. WealthCollab LLC now owns 2,043 shares of the business services provider’s stock worth $43,000 after purchasing an additional 591 shares in the last quarter. New York State Teachers Retirement System grew its holdings in Shutterstock by 4.7% during the 4th quarter. New York State Teachers Retirement System now owns 13,437 shares of the business services provider’s stock valued at $257,000 after purchasing an additional 601 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in Shutterstock by 3.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 18,096 shares of the business services provider’s stock valued at $301,000 after purchasing an additional 668 shares in the last quarter. Franklin Resources Inc. increased its stake in Shutterstock by 8.9% during the 3rd quarter. Franklin Resources Inc. now owns 11,218 shares of the business services provider’s stock worth $234,000 after buying an additional 919 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Shutterstock by 0.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 116,070 shares of the business services provider’s stock worth $2,420,000 after buying an additional 953 shares during the period. Hedge funds and other institutional investors own 82.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of Shutterstock in a report on Friday, July 31st. Citigroup upgraded Shutterstock from a “neutral” rating to a “buy” rating and set a $7.00 target price for the company in a research note on Friday, June 5th. Wall Street Zen lowered Shutterstock from a “hold” rating to a “sell” rating in a research report on Sunday, July 26th. Finally, Zacks Research upgraded Shutterstock from a “strong sell” rating to a “hold” rating in a research note on Friday, July 17th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $7.00.

Shutterstock Stock Up 3.8%

SSTK stock opened at $5.85 on Friday. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.22. The firm has a 50 day simple moving average of $9.52 and a 200-day simple moving average of $14.27. The company has a market capitalization of $216.23 million, a P/E ratio of -1.04 and a beta of 1.11. Shutterstock, Inc. has a twelve month low of $5.17 and a twelve month high of $29.50.

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.