Federated Hermes Inc. Cuts Position in Fiverr International $FVRR

Federated Hermes Inc. lowered its holdings in shares of Fiverr International (NYSE:FVRR) by 3.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 740,000 shares of the company’s stock after selling 30,000 shares during the quarter. Federated Hermes Inc. owned approximately 2.06% of Fiverr International worth $18,063,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Assetmark Inc. acquired a new stake in Fiverr International in the 2nd quarter valued at $41,000. Tower Research Capital LLC TRC grew its position in shares of Fiverr International by 4,392.6% in the second quarter. Tower Research Capital LLC TRC now owns 3,055 shares of the company’s stock valued at $90,000 after purchasing an additional 2,987 shares during the period. PharVision Advisers LLC purchased a new stake in shares of Fiverr International during the second quarter worth about $234,000. MQS Management LLC acquired a new position in shares of Fiverr International during the 2nd quarter worth about $248,000. Finally, Envestnet Asset Management Inc. purchased a new position in Fiverr International in the 2nd quarter valued at about $262,000. 59.00% of the stock is currently owned by hedge funds and other institutional investors.

Fiverr International Trading Down 1.7%

Shares of Fiverr International stock opened at $16.77 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.33 and a quick ratio of 1.33. The stock’s 50 day simple moving average is $19.21 and its 200-day simple moving average is $21.80. The stock has a market cap of $601.04 million, a P/E ratio of 28.42 and a beta of 1.29. Fiverr International has a 1-year low of $15.61 and a 1-year high of $35.40.

Fiverr International (NYSE:FVRR) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.07. Fiverr International had a net margin of 5.23% and a return on equity of 13.53%. The firm had revenue of $107.90 million for the quarter, compared to analysts’ expectations of $107.88 million. During the same quarter in the previous year, the company posted $0.64 EPS. The company’s revenue was up 8.3% compared to the same quarter last year. Analysts predict that Fiverr International will post 1.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on FVRR. Zacks Research cut Fiverr International from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Fiverr International in a research report on Thursday. Seven investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Fiverr International presently has an average rating of “Hold” and an average target price of $32.22.

About Fiverr International

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.