Legato Capital Management LLC Acquires Shares of 21,810 Fiverr International (NYSE:FVRR)

Key Points

• Legato Capital Management LLC has acquired 21,810 shares of Fiverr International, equating to approximately $516,000, marking a new stake for the institutional investor in the first quarter.
• Several hedge funds, including Millennium Management LLC and Public Employees Retirement System of Ohio, have significantly increased their holdings in Fiverr during the fourth quarter, with institutional investors now owning 59.00% of the company's stock.
• Analysts have optimism for Fiverr, with Citigroup raising their price target to $40.00 and several other firms issuing buy ratings, while the average rating for the stock remains a "Moderate Buy" with a consensus target of $36.00.

Legato Capital Management LLC purchased a new stake in shares of Fiverr International (NYSE:FVRR - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The fund purchased 21,810 shares of the company's stock, valued at approximately $516,000. Legato Capital Management LLC owned approximately 0.06% of Fiverr International at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Ameriprise Financial Inc. grew its position in Fiverr International by 22.0% during the fourth quarter. Ameriprise Financial Inc. now owns 1,219,806 shares of the company's stock worth $38,704,000 after buying an additional 219,957 shares in 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 in the last quarter. Millennium Management LLC grew its stake in Fiverr International by 169.9% in the 4th quarter. Millennium Management LLC now owns 305,886 shares of the company's stock worth $9,706,000 after buying an additional 192,534 shares in the last quarter. Jump Financial LLC grew its stake in Fiverr International by 594.7% in the 4th quarter. Jump Financial LLC now owns 80,754 shares of the company's stock worth $2,562,000 after buying an additional 69,129 shares in the last quarter. Finally, Public Employees Retirement System of Ohio grew its stake in Fiverr International by 60.5% in the 4th quarter. Public Employees Retirement System of Ohio now owns 42,336 shares of the company's stock worth $1,343,000 after buying an additional 15,951 shares in the last quarter. 59.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FVRR has been the subject of several research reports. Citigroup upped their target price on shares of Fiverr International from $39.00 to $40.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Needham & Company LLC reiterated a "buy" rating and issued a $36.00 price objective on shares of Fiverr International in a report on Thursday, May 8th. Scotiabank upped their target price on Fiverr International from $31.00 to $34.00 and gave the stock a "sector outperform" rating in a research note on Thursday, May 8th. The Goldman Sachs Group upped their target price on Fiverr International from $41.00 to $47.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Finally, Wall Street Zen cut shares of Fiverr International from a "strong-buy" rating to a "buy" rating in a research note on Sunday, June 29th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $36.00.

Fiverr International Stock Down 1.3%

FVRR traded down $0.32 on Tuesday, hitting $25.02. The company had a trading volume of 257,521 shares, compared to its average volume of 655,325. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.20 and a quick ratio of 1.20. Fiverr International has a 52-week low of $20.83 and a 52-week high of $36.11. The stock has a fifty day simple moving average of $29.61 and a 200-day simple moving average of $28.51. The firm has a market capitalization of $896.61 million, a P/E ratio of 53.17 and a beta of 1.54.

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.