Shutterstock (NYSE:SSTK) Stock Crosses Below 200 Day Moving Average – Should You Sell?

Shutterstock, Inc. (NYSE:SSTK) shares crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $12.35 and traded as low as $5.02. Shutterstock shares last traded at $5.2660, with a volume of 756,173 shares changing hands.

Analyst Ratings Changes

SSTK has been the topic of a number of research analyst reports. Wall Street Zen downgraded shares of Shutterstock from a “hold” rating to a “sell” rating in a research note on Sunday, July 26th. Weiss Ratings downgraded shares of Shutterstock from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, August 13th. Citigroup upgraded Shutterstock from a “neutral” rating to a “buy” rating and set a $7.00 price target for the company in a report on Friday, June 5th. Finally, Zacks Research raised Shutterstock from a “strong sell” rating to a “hold” rating in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Shutterstock currently has an average rating of “Hold” and an average price target of $7.00.

Shutterstock Trading Up 1.5%

The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.48 and a current ratio of 0.48. The company has a market capitalization of $182.72 million, a P/E ratio of -0.88 and a beta of 1.10. The company’s fifty day simple moving average is $6.10 and its 200-day simple moving average is $12.27.

Hedge Funds Weigh In On Shutterstock

Institutional investors have recently bought and sold shares of the business. BlackRock Inc. bought a new stake in Shutterstock during the second quarter valued at about $37,118,000. Callodine Capital Management LP raised its holdings in Shutterstock by 23.0% in the first quarter. Callodine Capital Management LP now owns 1,272,139 shares of the business services provider’s stock worth $21,130,000 after purchasing an additional 238,176 shares in the last quarter. Union Square Park Capital Management LLC bought a new position in Shutterstock in the fourth quarter worth about $2,101,000. Rice Hall James & Associates LLC purchased a new stake in shares of Shutterstock during the second quarter valued at about $10,572,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Shutterstock during the second quarter valued at about $5,261,000. 82.79% of the stock is owned by hedge funds and other institutional investors.

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.