KLP Kapitalforvaltning AS Makes New $187,000 Investment in Fiverr International Ltd. (NYSE:FVRR)

KLP Kapitalforvaltning AS purchased a new stake in shares of Fiverr International Ltd. (NYSE:FVRR) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 5,900 shares of the company’s stock, valued at approximately $187,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Jones Financial Companies Lllp increased its stake in shares of 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 in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Fiverr International during the 4th quarter valued at about $57,000. New York State Common Retirement Fund grew its position in shares of 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 acquiring an additional 1,382 shares during the period. Public Employees Retirement System of Ohio purchased a new position in shares of Fiverr International during the 3rd quarter valued at about $683,000. Finally, Geode Capital Management LLC raised its position in shares of Fiverr International by 12.6% during the 3rd quarter. Geode Capital Management LLC now owns 26,472 shares of the company’s stock valued at $685,000 after purchasing an additional 2,961 shares during the period. Hedge funds and other institutional investors own 59.00% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. JMP Securities cut shares of Fiverr International from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. reduced 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. Citizens Jmp downgraded shares of Fiverr International from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 20th. Needham & Company LLC restated a “buy” rating and issued a $36.00 price objective on shares of Fiverr International in a report on Wednesday, February 19th. Finally, Scotiabank assumed coverage on Fiverr International in a research report on Wednesday, March 12th. They issued a “sector outperform” rating and a $31.00 price target for the company. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $33.50.

Fiverr International Stock Performance

Shares of FVRR stock opened at $22.85 on Wednesday. The business has a fifty day moving average of $27.16 and a 200 day moving average of $28.80. The firm has a market capitalization of $819.14 million, a price-to-earnings ratio of 48.62 and a beta of 1.98. Fiverr International Ltd. has a 1 year low of $18.83 and a 1 year high of $36.11. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.10 and a quick ratio of 2.99.

Fiverr International declared that its Board of Directors has initiated a stock buyback program on Tuesday, March 11th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to reacquire up to 10.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

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.