Wellington Management Group LLP Raises Stake in Fiverr International $FVRR

Key Points

• Wellington Management increased its Fiverr stake by 16.5% in the second quarter, adding 179,418 shares to own 1.27 million shares valued at approximately $13.1 million, or 3.53% of the company.
• Other institutional investors also expanded their positions, including Engine Capital Management, which raised its stake by 78.4%; hedge funds and institutions collectively own 59% of Fiverr’s stock.
• Fiverr shares opened at $9.23, near the lower end of their 52-week range, while analysts remain cautious: the consensus rating is “Reduce” with a $16.25 price target, despite the company reporting $0.50 quarterly EPS and $97.78 million in revenue.

Wellington Management Group LLP raised its holdings in Fiverr International (NYSE:FVRR - Free Report) by 16.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,269,405 shares of the company's stock after purchasing an additional 179,418 shares during the quarter. Wellington Management Group LLP owned about 3.53% of Fiverr International worth $13,100,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in FVRR. Renaissance Technologies LLC lifted its position in Fiverr International by 26.0% during the 1st quarter. Renaissance Technologies LLC now owns 731,659 shares of the company's stock worth $7,331,000 after acquiring an additional 151,200 shares during the period. Sparta 24 Ltd. acquired a new position in shares of Fiverr International in the first quarter valued at approximately $9,410,000. Engine Capital Management LP raised its stake in shares of Fiverr International by 78.4% during the first quarter. Engine Capital Management LP now owns 1,338,644 shares of the company's stock worth $13,413,000 after purchasing an additional 588,220 shares during the last quarter. Whetstone Capital Advisors LLC purchased a new stake in shares of Fiverr International during the fourth quarter worth approximately $2,497,000. Finally, Maxi Investments CY Ltd acquired a new stake in shares of Fiverr International during the second quarter worth $111,000. 59.00% of the stock is owned by hedge funds and other institutional investors.

Fiverr International Trading Down 0.2%

FVRR stock opened at $9.23 on Tuesday. The company has a market cap of $331.82 million, a P/E ratio of 11.40 and a beta of 1.44. Fiverr International has a 52 week low of $8.60 and a 52 week high of $28.00. The company's 50-day moving average price is $9.98 and its 200 day moving average price is $10.41.

Fiverr International (NYSE:FVRR - Get Free Report) last issued its earnings results on Tuesday, June 30th. The company reported $0.50 earnings per share (EPS) for the quarter. The company had revenue of $97.78 million during the quarter. Fiverr International had a net margin of 7.18% and a return on equity of 16.14%. On average, equities research analysts expect that Fiverr International will post 0.93 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on FVRR shares. The Goldman Sachs Group restated a "neutral" rating and issued a $13.00 target price (down from $26.00) on shares of Fiverr International in a research note on Thursday, July 30th. Wall Street Zen lowered shares of Fiverr International from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Oppenheimer cut shares of Fiverr International from an "outperform" rating to a "market perform" rating in a report on Thursday, July 30th. Citigroup reduced their price objective on shares of Fiverr International from $15.00 to $11.50 and set a "neutral" rating for the company in a research report on Thursday, July 30th. Finally, Royal Bank Of Canada lowered their price objective on Fiverr International from $16.00 to $9.00 and set a "sector perform" rating on the stock in a report on Thursday, July 30th. Eleven analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Reduce" and a consensus price target of $16.25.

Fiverr International 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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