On September 17, 2023, it was reported that ARK Investment Management LLC had reduced its position in Fiverr International Ltd. by 16.5% during the second quarter. According to its disclosure with the Securities and Exchange Commission, the firm sold 11,190 shares, leaving them with a total of 56,754 shares of the company’s stock. The value of Fiverr International held by ARK Investment Management LLC was estimated at $1,476,000.
Fiverr International recently released its quarterly earnings data on August 3rd. During this period, the company reported an earnings per share of $0.49 for the quarter. This exceeded analysts’ consensus estimate of $0.41 by $0.08. Despite having a negative net margin and return on equity, Fiverr International managed to generate revenue of $89.40 million for the quarter.
Compared to the same quarter last year, Fiverr International’s quarterly revenue increased by 5.2%. It is anticipated that the company will post an earnings per share of 0.09 for the current year based on predictions made by equities analysts.
Fiverr International operates globally as an online marketplace where sellers can offer their services and buyers can purchase them. The platform covers approximately 600 categories across ten verticals, including graphic and design, digital marketing, writing and translation, video and animation, music and audio, programming and tech, business services, data analysis, lifestyle services, and photography.
As of now, these are the latest updates regarding Fiverr International Ltd., its financial position through ARK Investment Management’s disclosure in Q2 of this year, and its recent quarterly earnings report.
September 17, 2023 – Divergent Views Among Institutional Investors Towards Fiverr International
September 17, 2023 – Institutional Investors Show Mixed Sentiment Towards Fiverr International
In recent months, several institutional investors have taken contrasting steps regarding their stakes in Fiverr International, a leading online marketplace for freelance services. Captrust Financial Advisors increased its stake by 30.6% during the second quarter of this year. The firm now owns 1,612 shares of Fiverr’s stock valued at $55,000. Similarly, the State of Tennessee Treasury Department initiated a new position in Fiverr during the fourth quarter of last year with a value of $118,000.
On the other hand, Industrial Alliance Investment Management Inc. and Neuberger Berman Group LLC both acquired new positions in the first quarter worth $134,000 and $229,000 respectively. Additionally, SG Americas Securities LLC added a new stake in Fiverr during the second quarter with an estimate value of around $288,000.
These moves indicate a mixed sentiment among institutional investors concerning Fiverr International and reflect diverse strategies employed by different investment firms. It is noteworthy that these actions are subject to various factors such as market conditions and individual investment objectives.
As per trading data on Friday, September 17th, shares of FVRR opened at $28.04. The fifty-day moving average stands at $29.03 while the two-hundred-day moving average is at $30.47. With a market capitalization of approximately $1.06 billion and a price-to-earnings ratio of -63.73, Fiverr International has shown some volatility over time with a beta value of 1.72.
Furthermore, the company’s financials indicate it has a debt-to-equity ratio of 1.53 along with quick and current ratios of 2.93 each demonstrating decent liquidity levels within its operations.
Several equity analysts have recently offered their insights on Fiverr International. Piper Sandler lowered their price target on the stock from $40.00 to $36.00 in a research note issued on July 14th. Similarly, Oppenheimer reduced its price objective from $55.00 to $48.00 and maintained an “outperform” rating for Fiverr on August 4th. Nonetheless, BTIG Research provided a more optimistic outlook by raising their target price from $40.00 to $44.00 while labeling the stock as a “buy” in their research analysis on August 3rd.
In conclusion, Fiverr International has witnessed mixed sentiment among institutional investors in recent months, with some increasing their stakes while others initiated new positions in the company. The company’s stock performance has shown some volatility; however, analysts’ opinions vary from hold to buy ratings, with Bloomberg’s average rating being “Moderate Buy” and a consensus target price of $42.00.
(Note: This article is purely informative and does not constitute financial advice or recommendations.)