Shutterstock (NYSE:SSTK) Stock Price Crosses Below 200-Day Moving Average – Time to Sell?

Shutterstock, Inc. (NYSE:SSTK)’s share price passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $20.70 and traded as low as $18.56. Shutterstock shares last traded at $18.8250, with a volume of 171,803 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts have commented on SSTK shares. Wall Street Zen cut shares of Shutterstock from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Shutterstock in a report on Wednesday, October 8th. Finally, Zacks Research cut Shutterstock from a “hold” rating to a “strong sell” rating in a research note on Monday, December 1st. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Shutterstock presently has an average rating of “Hold” and a consensus target price of $25.00.

Shutterstock Stock Performance

The firm has a fifty day moving average price of $20.07 and a two-hundred day moving average price of $20.70. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.53 and a quick ratio of 0.53. The stock has a market capitalization of $668.66 million, a PE ratio of 11.21 and a beta of 1.27.

Shutterstock (NYSE:SSTK) last released its earnings results on Wednesday, November 5th. The business services provider reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.48). The business had revenue of $260.09 million during the quarter, compared to analysts’ expectations of $255.60 million. Shutterstock had a return on equity of 16.30% and a net margin of 5.89%.The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.31 EPS. Research analysts expect that Shutterstock, Inc. will post 3.12 EPS for the current year.

Shutterstock Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 7.0%. The ex-dividend date of this dividend was Thursday, December 4th. Shutterstock’s payout ratio is 78.57%.

Institutional Trading of Shutterstock

Several institutional investors and hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Shutterstock by 12.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,901 shares of the business services provider’s stock worth $557,000 after purchasing an additional 3,263 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Shutterstock by 109.3% in the 1st quarter. Millennium Management LLC now owns 626,615 shares of the business services provider’s stock worth $11,674,000 after buying an additional 327,203 shares during the period. Strs Ohio bought a new position in shares of Shutterstock during the 1st quarter worth $514,000. Byrne Asset Management LLC purchased a new position in shares of Shutterstock during the second quarter valued at $73,000. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in shares of Shutterstock in the second quarter valued at about $212,000. Institutional investors own 82.79% of the company’s stock.

Shutterstock Company 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.