Sparta 24 Ltd. Acquires New Position in Fiverr International $FVRR

Key Points

• Sparta 24 Ltd. disclosed a new first-quarter position in Fiverr International, buying 939,088 shares valued at about $9.41 million. The stake represented 10.8% of Sparta 24’s portfolio and about 2.61% of Fiverr.
• Fiverr shares were down 3.4% in Friday trading, opening at $11.25. The stock has a 52-week range of $9.58 to $28.00 and a market cap of about $404.3 million.
• Analysts are mixed on Fiverr, with recent rating changes including upgrades and a downgrades, but the overall consensus remains Hold. The average price target is $19.30, and the company recently reported quarterly EPS of $0.62 on revenue of $105.49 million.

Sparta 24 Ltd. bought a new position in shares of Fiverr International (NYSE:FVRR - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 939,088 shares of the company's stock, valued at approximately $9,410,000. Fiverr International comprises 10.8% of Sparta 24 Ltd.'s portfolio, making the stock its 3rd biggest holding. Sparta 24 Ltd. owned approximately 2.61% 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 recently bought and sold shares of FVRR. Russell Investments Group Ltd. purchased a new position in shares of Fiverr International during the 4th quarter worth $32,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Fiverr International in the fourth quarter valued at $43,000. Clearstead Trust LLC purchased a new stake in shares of Fiverr International in the fourth quarter valued at $46,000. Caitong International Asset Management Co. Ltd increased its stake in Fiverr International by 586.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,493 shares of the company's stock valued at $49,000 after purchasing an additional 2,130 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in Fiverr International by 4,392.6% in the second quarter. Tower Research Capital LLC TRC now owns 3,055 shares of the company's stock valued at $90,000 after purchasing an additional 2,987 shares during the last quarter. 59.00% of the stock is owned by hedge funds and other institutional investors.

Fiverr International Trading Down 3.4%

Shares of FVRR stock opened at $11.25 on Friday. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.04. Fiverr International has a fifty-two week low of $9.58 and a fifty-two week high of $28.00. The firm's 50 day moving average price is $10.66 and its two-hundred day moving average price is $12.31. The stock has a market cap of $404.29 million, a price-to-earnings ratio of 14.42 and a beta of 1.39.

Fiverr International (NYSE:FVRR - Get Free Report) last released its quarterly earnings data on Tuesday, March 31st. The company reported $0.62 earnings per share (EPS) for the quarter. Fiverr International had a net margin of 6.70% and a return on equity of 17.22%. The company had revenue of $105.49 million during the quarter. On average, analysts anticipate that Fiverr International will post 1.24 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Zacks Research upgraded Fiverr International from a "strong sell" rating to a "hold" rating in a research report on Monday, June 29th. Wall Street Zen upgraded Fiverr International from a "hold" rating to a "buy" rating in a report on Saturday, June 6th. Finally, Weiss Ratings raised shares of Fiverr International from a "sell (d)" rating to a "sell (d+)" rating in a research note on Thursday, July 9th. Three research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $19.30.

About Fiverr International

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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