Fiverr International (NYSE:FVRR) Trading Down 8.9% – Here’s What Happened

Fiverr International Ltd. (NYSE:FVRR) shares dropped 8.9% on Thursday . The company traded as low as $27.50 and last traded at $27.54. Approximately 438,320 shares were traded during trading, a decline of 42% from the average daily volume of 761,283 shares. The stock had previously closed at $30.23.

Analyst Ratings Changes

FVRR has been the subject of a number of research reports. Citigroup lifted their target price on Fiverr International from $36.00 to $39.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. BTIG Research downgraded Fiverr International from a “buy” rating to a “neutral” rating in a report on Monday, November 4th. Citizens Jmp downgraded Fiverr International from a “strong-buy” rating to a “hold” rating in a report on Thursday. UBS Group raised their price target on Fiverr International from $31.00 to $32.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $35.00 price target on shares of Fiverr International in a research report on Thursday. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Fiverr International currently has a consensus rating of “Hold” and a consensus price target of $33.20.

Fiverr International Stock Performance

The company has a debt-to-equity ratio of 0.06, a current ratio of 1.10 and a quick ratio of 2.99. The stock has a 50-day simple moving average of $31.99 and a 200-day simple moving average of $28.67. The stock has a market cap of $921.27 million, a P/E ratio of 54.69 and a beta of 1.69.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Ameriprise Financial Inc. grew its position in Fiverr International by 22.0% in the fourth quarter. Ameriprise Financial Inc. now owns 1,219,806 shares of the company’s stock valued at $38,704,000 after acquiring an additional 219,957 shares during the last quarter. Engine Capital Management LP grew its holdings in shares of Fiverr International by 2.3% during the fourth quarter. Engine Capital Management LP now owns 1,204,316 shares of the company’s stock worth $38,213,000 after purchasing an additional 27,003 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Fiverr International by 169.9% during the fourth quarter. Millennium Management LLC now owns 305,886 shares of the company’s stock worth $9,706,000 after purchasing an additional 192,534 shares during the last quarter. Pier Capital LLC bought a new stake in shares of Fiverr International during the fourth quarter worth about $8,674,000. Finally, Arkadios Wealth Advisors grew its holdings in shares of Fiverr International by 22.0% during the fourth quarter. Arkadios Wealth Advisors now owns 137,873 shares of the company’s stock worth $4,375,000 after purchasing an additional 24,839 shares during the last quarter. Institutional investors own 59.00% of the company’s stock.

About Fiverr International

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.