JMP Securities gives a Mkt perform recommendation for Shutterstock Inc. (SSTK)


In a filing, Shutterstock Inc. revealed its EXECUTIVE CHAIRMAN Oringer Jonathan unloaded Company’s shares for reported $0.29 million on Aug 01. In the deal valued at $50.17 per share,5,690 shares were sold. As a result of this transaction, Oringer Jonathan now holds 11,093,664 shares worth roughly $ 467.71 million.

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Then, Oringer Jonathan sold 130,465 shares, generating $6,948,447 in total proceeds. Upon selling the shares at $53.26, the EXECUTIVE CHAIRMAN now owns 11,099,354 shares.

Before that, Oringer Jonathan sold 10,905 shares. Shutterstock Inc. shares valued at $546,668 were divested by the EXECUTIVE CHAIRMAN at a price of $50.13 per share. As a result of the transaction, Oringer Jonathan now holds 11,229,819 shares, worth roughly $473.45 million.

JMP Securities downgraded its Shutterstock Inc. [SSTK] rating to a Mkt perform from a a Mkt outperform in a research note published on Friday.

Price Performance Review of SSTK

On Friday, Shutterstock Inc. [NYSE:SSTK] saw its stock jump 0.12% to $42.16. On the same session, the stock had its day’s lowest price of $41.91, but rose to a high of $42.56. Over the last five days, the stock has gained 1.25%. Shutterstock Inc. shares have fallen nearly -20.03% since the year began. Nevertheless, the stocks have fallen -23.91% over the past one year. While a 52-week high of $81.23 was reached on 02/02/23, a 52-week low of $40.61 was recorded on 08/18/23. SMA at 50 days reached $47.30, while 200 days put it at $58.04. A total of 0.21 million shares were traded, compared to the trading of 0.4 million shares in the previous session.

Levels Of Support And Resistance For SSTK Stock

The 24-hour chart illustrates a support level at 41.86, which if violated will result in even more drops to 41.56. On the upside, there is a resistance level at 42.51. A further resistance level may holdings at 42.86. The Relative Strength Index (RSI) on the 14-day chart is 37.90, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.09, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 51.67%. Stochastics %K at 49.86% indicates the stock is a holding.

How much short interest is there in Shutterstock Inc.?

A steep rise in short interest was recorded in Shutterstock Inc. stocks on Aug 14, 2023, dropping by -0.12 million shares to a total of 3.95 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 4.07 million shares. There was a decline of -3.04%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 19.32% of the overall stock float, the days-to-cover ratio (short ratio) fell to 5.63.

Shutterstock Inc. [SSTK] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 3,814,002 shares, or roughly 10.58% of the outstanding SSTK shares. In other words, the investor’s shares have fallen by -58,691 from its previous 13-F filing of 3872693.0. Additionally, The Vanguard Group, Inc. increased 1.69% of its stake after which the total value it holdings stand at $144,548,415, while Renaissance Technologies LLC added 35.60% of its stake to hold $65.12 million in the firm. Over the last quarter, Millennium Management LLC purchased 976,067 shares of Shutterstock Inc., while Copeland Capital Management LLC bought 35,118 shares. At present, Dimensional Fund Advisors LP is holding 914,125 shares valued at $47.03 million. SSgA Funds Management, Inc. owned 901,571 shares of the company at the time of its most recent 13F filing, worth $46.39 million.

According to FactSet, Shutterstock Inc.’s share price will average $84.10 in the next year, based on opinions of analysts polled by the firm. This is up nearly 99.48 percent from its previous closing price of $42.11. Analysts expect Shutterstock Inc. stock to reach the higher price of $92.40, while the lowest price estimate is $76.00. However, 5 analysts have rated SSTK stock as an Overweight in their predictions for 2023.


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