Pier Capital LLC Purchases Shares of 273,360 Fiverr International Ltd. (NYSE:FVRR)

Pier Capital LLC acquired a new position in shares of Fiverr International Ltd. (NYSE:FVRR) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 273,360 shares of the company’s stock, valued at approximately $8,674,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FVRR. KLP Kapitalforvaltning AS bought a new position in Fiverr International during the 4th quarter worth approximately $187,000. SBI Securities Co. Ltd. acquired a new stake in shares of Fiverr International during the fourth quarter worth $57,000. Jones Financial Companies Lllp raised its stake in Fiverr International by 134.9% during the fourth quarter. Jones Financial Companies Lllp now owns 1,031 shares of the company’s stock worth $33,000 after buying an additional 592 shares during the last quarter. New York State Common Retirement Fund lifted its holdings in Fiverr International by 5.9% in the fourth quarter. New York State Common Retirement Fund now owns 24,824 shares of the company’s stock valued at $788,000 after buying an additional 1,382 shares during the period. Finally, Arkadios Wealth Advisors boosted its position in Fiverr International by 22.0% during the fourth quarter. Arkadios Wealth Advisors now owns 137,873 shares of the company’s stock valued at $4,375,000 after acquiring an additional 24,839 shares during the last quarter. 59.00% of the stock is owned by institutional investors and hedge funds.

Fiverr International Stock Up 2.3 %

Fiverr International stock opened at $26.27 on Tuesday. The firm has a market capitalization of $941.69 million, a price-to-earnings ratio of 55.90 and a beta of 1.93. The firm’s fifty day moving average price is $29.15 and its two-hundred day moving average price is $28.90. Fiverr International Ltd. has a 1-year low of $18.83 and a 1-year high of $36.11. The company has a current ratio of 1.10, a quick ratio of 2.99 and a debt-to-equity ratio of 0.06.

Fiverr International declared that its board has initiated a share repurchase plan on Tuesday, March 11th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to buy up to 10.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on FVRR. JMP Securities lowered Fiverr International from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 20th. UBS Group lifted their target price on Fiverr International from $31.00 to $32.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Citizens Jmp cut Fiverr International from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 20th. Needham & Company LLC reiterated a “buy” rating and issued a $36.00 price objective on shares of Fiverr International in a research note on Wednesday, February 19th. Finally, Scotiabank assumed coverage on shares of Fiverr International in a research note on Wednesday, March 12th. They set a “sector outperform” rating and a $31.00 target price on the stock. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Fiverr International has an average rating of “Moderate Buy” and a consensus target price of $34.22.

Fiverr International Profile

Fiverr International Ltd. operates an online marketplace worldwide. Its platform enables sellers to sell their services and buyers to buy them. The company's platform includes various categories in ten verticals, including graphic and design, digital marketing, writing and translation, video and animation, music and audio, programming and tech, business, data, lifestyle, and photography.