Renaissance Technologies LLC Acquires 151,200 Shares of Fiverr International $FVRR

Key Points

• Renaissance Technologies increased its Fiverr stake by 26%, buying 151,200 shares to own 731,659 shares, or 2.04% of the company. Institutional investors collectively hold 59% of Fiverr’s stock.
• Analyst sentiment has weakened: Oppenheimer, Scotiabank, Goldman Sachs and Wall Street Zen recently downgraded or maintained cautious ratings. Fiverr has a consensus “Reduce” rating and a $16.25 average price target.
• Fiverr shares opened at $9.53, near their 52-week low of $8.75 and well below the $28.00 high. The company reported $0.50 quarterly EPS on $97.78 million in revenue, with analysts forecasting $1.24 in full-year EPS.

Renaissance Technologies LLC boosted its stake in Fiverr International (NYSE:FVRR - Free Report) by 26.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 731,659 shares of the company's stock after buying an additional 151,200 shares during the period. Renaissance Technologies LLC owned 2.04% of Fiverr International worth $7,331,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Russell Investments Group Ltd. purchased a new stake in Fiverr International in the fourth quarter worth about $32,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Fiverr International in the 4th quarter worth approximately $43,000. Clearstead Trust LLC purchased a new stake in shares of Fiverr International in the 4th quarter worth approximately $46,000. Caitong International Asset Management Co. Ltd grew its stake in shares of Fiverr International by 586.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,493 shares of the company's stock worth $49,000 after buying an additional 2,130 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its position in Fiverr International by 4,392.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,055 shares of the company's stock valued at $90,000 after buying an additional 2,987 shares in the last quarter. 59.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

FVRR has been the topic of a number of recent analyst reports. Oppenheimer cut shares of Fiverr International from an "outperform" rating to a "market perform" rating in a report on Thursday, July 30th. Scotiabank cut Fiverr International from a "sector outperform" rating to a "sector perform" rating and set a $10.00 price objective on the stock. in a research report on Thursday, July 30th. The Goldman Sachs Group reiterated a "neutral" rating and set a $13.00 target price (down from $26.00) on shares of Fiverr International in a research note on Thursday. Weiss Ratings cut Fiverr International from a "sell (d+)" rating to a "sell (d)" rating in a research note on Tuesday, July 28th. Finally, Wall Street Zen downgraded Fiverr International from a "buy" rating to a "hold" rating in a report on Saturday. Eleven analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Reduce" and a consensus price target of $16.25.

Fiverr International Stock Performance

NYSE:FVRR opened at $9.53 on Tuesday. The stock has a 50-day simple moving average of $10.57 and a two-hundred day simple moving average of $11.57. The firm has a market capitalization of $342.57 million, a PE ratio of 11.76 and a beta of 1.39. Fiverr International has a 52-week low of $8.75 and a 52-week high of $28.00.

Fiverr International (NYSE:FVRR - Get Free Report) last announced its quarterly earnings data on Tuesday, June 30th. The company reported $0.50 earnings per share (EPS) for the quarter. Fiverr International had a net margin of 7.18% and a return on equity of 16.14%. The firm had revenue of $97.78 million during the quarter. Equities analysts forecast that Fiverr International will post 1.24 earnings per share for the current fiscal year.

Fiverr International Company Profile

Fiverr International Ltd. operates an online marketplace that connects businesses and individuals with freelance talent across a wide range of professional services. Through its platform, Fiverr enables clients to procure work such as graphic design, digital marketing, writing and translation, video and animation, programming and tech, and business services. By offering a streamlined interface for ordering and delivering gig-based work, the company seeks to simplify the procurement of specialized skills on a project-by-project basis.

Founded in 2010 and headquartered in Tel Aviv, Israel, Fiverr serves clients and freelancers around the globe, with a particularly strong presence in North America and Europe.

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