Pier Capital LLC Takes $8.67 Million Position in Fiverr International Ltd. (NYSE:FVRR)

Pier Capital LLC purchased a new position in shares of Fiverr International Ltd. (NYSE:FVRR) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 273,360 shares of the company’s stock, valued at approximately $8,674,000. Pier Capital LLC owned 0.71% of Fiverr International as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Jones Financial Companies Lllp boosted its stake in shares of Fiverr International by 134.9% in the fourth quarter. Jones Financial Companies Lllp now owns 1,031 shares of the company’s stock valued at $33,000 after buying an additional 592 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Fiverr International during the 4th quarter valued at $57,000. KLP Kapitalforvaltning AS bought a new stake in shares of Fiverr International during the 4th quarter valued at $187,000. New York State Common Retirement Fund grew its holdings in shares of Fiverr International by 5.9% during the 4th quarter. New York State Common Retirement Fund now owns 24,824 shares of the company’s stock worth $788,000 after purchasing an additional 1,382 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Fiverr International in the third quarter worth $683,000. Institutional investors and hedge funds own 59.00% of the company’s stock.

Fiverr International Stock Performance

Shares of FVRR 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 company has a current ratio of 1.10, a quick ratio of 2.99 and a debt-to-equity ratio of 0.06. The business’s 50-day moving average price is $29.15 and its 200-day moving average price is $28.90. Fiverr International Ltd. has a 12 month low of $18.83 and a 12 month high of $36.11.

Fiverr International announced that its board has authorized a share buyback program on Tuesday, March 11th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 10.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

FVRR has been the topic of a number of analyst reports. Scotiabank started coverage on shares of Fiverr International in a research note on Wednesday, March 12th. They set a “sector outperform” rating and a $31.00 price objective on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $35.00 price objective on shares of Fiverr International in a research report on Thursday, February 20th. UBS Group raised their target price on Fiverr International from $31.00 to $32.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Needham & Company LLC reissued a “buy” rating and set a $36.00 price target on shares of Fiverr International in a report on Wednesday, February 19th. Finally, Citizens Jmp lowered Fiverr International from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 20th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Fiverr International has an average rating of “Moderate Buy” and an average 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.