Fiverr International Ltd. (NYSE:FVRR) Shares Sold by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury reduced its stake in Fiverr International Ltd. (NYSE:FVRR - Free Report) by 17.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 126,870 shares of the company's stock after selling 26,962 shares during the period. State of Tennessee Department of Treasury owned approximately 0.33% of Fiverr International worth $4,026,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in FVRR. Jones Financial Companies Lllp lifted its position in Fiverr International by 134.9% during the fourth quarter. Jones Financial Companies Lllp now owns 1,031 shares of the company's stock valued at $33,000 after purchasing an additional 592 shares during the last quarter. Huntington National Bank lifted its stake in shares of Fiverr International by 38.3% in the 4th quarter. Huntington National Bank now owns 1,465 shares of the company's stock valued at $46,000 after purchasing an additional 406 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Fiverr International in the 4th quarter worth approximately $57,000. KLP Kapitalforvaltning AS bought a new position in shares of Fiverr International during the 4th quarter valued at approximately $187,000. Finally, New York State Common Retirement Fund raised its holdings in Fiverr International by 5.9% during the 4th quarter. New York State Common Retirement Fund now owns 24,824 shares of the company's stock valued at $788,000 after buying an additional 1,382 shares during the period. Institutional investors own 59.00% of the company's stock.

Fiverr International Stock Performance

Shares of NYSE FVRR traded up $0.45 during midday trading on Thursday, reaching $25.90. The company had a trading volume of 121,566 shares, compared to its average volume of 731,950. The stock has a market cap of $928.18 million, a P/E ratio of 55.15 and a beta of 1.98. The company has a current ratio of 1.10, a quick ratio of 2.99 and a debt-to-equity ratio of 0.06. Fiverr International Ltd. has a 1 year low of $19.98 and a 1 year high of $36.11. The business's 50-day simple moving average is $25.24 and its 200 day simple moving average is $28.84.

Fiverr International announced that its Board of Directors has approved a stock repurchase plan on Tuesday, March 11th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to purchase up to 10.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on FVRR shares. JPMorgan Chase & Co. cut their price objective on shares of Fiverr International from $33.00 to $27.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Royal Bank of Canada restated a "sector perform" rating and set a $35.00 target price on shares of Fiverr International in a research report on Thursday, February 20th. Citizens Jmp downgraded shares of Fiverr International from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 20th. Scotiabank started coverage on shares of Fiverr International in a research report on Wednesday, March 12th. They issued a "sector outperform" rating and a $31.00 price objective for the company. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $36.00 target price on shares of Fiverr International in a research report on Wednesday, February 19th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $34.11.

Fiverr International Company 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.