Fiverr International (NYSE:FVRR) Shares Down 4.4% - Time to Sell?

Fiverr International Ltd. (NYSE:FVRR - Get Free Report) shares dropped 4.4% during mid-day trading on Monday . The company traded as low as $32.38 and last traded at $32.30. Approximately 152,517 shares traded hands during trading, a decline of 77% from the average daily volume of 666,579 shares. The stock had previously closed at $33.78.

Analyst Ratings Changes

A number of brokerages recently weighed in on FVRR. Citigroup increased their price target on shares of Fiverr International from $39.00 to $40.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Needham & Company LLC reaffirmed a "buy" rating and issued a $36.00 price objective on shares of Fiverr International in a research report on Thursday, May 8th. The Goldman Sachs Group upped their target price on Fiverr International from $41.00 to $47.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Royal Bank of Canada restated a "sector perform" rating and issued a $35.00 price target on shares of Fiverr International in a report on Thursday, February 20th. Finally, JMP Securities lowered shares of Fiverr International from an "outperform" rating to a "market perform" rating in a report on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $36.00.

Fiverr International Trading Down 5.9%

The company has a debt-to-equity ratio of 0.06, a current ratio of 1.10 and a quick ratio of 2.99. The business's fifty day simple moving average is $28.37 and its 200 day simple moving average is $29.73. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of 67.74 and a beta of 1.58.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Ameriprise Financial Inc. lifted its stake in Fiverr International by 53.3% during the first quarter. Ameriprise Financial Inc. now owns 1,870,478 shares of the company's stock valued at $44,293,000 after purchasing an additional 650,672 shares during the last quarter. Pier Capital LLC purchased a new stake in shares of Fiverr International during the fourth quarter worth $8,674,000. Millennium Management LLC boosted its position in Fiverr International by 169.9% during the fourth quarter. Millennium Management LLC now owns 305,886 shares of the company's stock valued at $9,706,000 after purchasing an additional 192,534 shares during the last quarter. Jump Financial LLC grew its stake in Fiverr International by 594.7% in the fourth quarter. Jump Financial LLC now owns 80,754 shares of the company's stock valued at $2,562,000 after purchasing an additional 69,129 shares in the last quarter. Finally, Engine Capital Management LP increased its position in Fiverr International by 2.3% in the 4th 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 during the last quarter. 59.00% of the stock is owned by institutional investors and hedge funds.

About Fiverr International

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.

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