Fiverr International (NYSE:FVRR) Stock Sees Unusually High Put Option Buying

Fiverr International (NYSE:FVRR) was the target of some unusual options trading on Friday. Traders bought 2,543 put options on the stock. This is an increase of 72% compared to the average daily volume of 1,482 put options.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Engine Capital Management LP grew its position in Fiverr International by 78.4% during the first quarter. Engine Capital Management LP now owns 1,338,644 shares of the company’s stock valued at $13,413,000 after acquiring an additional 588,220 shares during the period. Wellington Management Group LLP raised its holdings in shares of Fiverr International by 16.5% in the 2nd quarter. Wellington Management Group LLP now owns 1,269,405 shares of the company’s stock worth $13,100,000 after purchasing an additional 179,418 shares during the period. Sparta 24 Ltd. purchased a new position in shares of Fiverr International in the 1st quarter worth about $9,410,000. Renaissance Technologies LLC raised its holdings in shares of Fiverr International by 26.0% in the 1st quarter. Renaissance Technologies LLC now owns 731,659 shares of the company’s stock worth $7,331,000 after purchasing an additional 151,200 shares during the period. Finally, Rice Hall James & Associates LLC lifted its stake in shares of Fiverr International by 5.3% in the 1st quarter. Rice Hall James & Associates LLC now owns 304,628 shares of the company’s stock valued at $3,052,000 after purchasing an additional 15,331 shares in the last quarter. Institutional investors and hedge funds own 59.00% of the company’s stock.

Fiverr International Stock Down 1.5%

Shares of FVRR traded down $0.13 during mid-day trading on Friday, hitting $8.28. The company had a trading volume of 97,483 shares, compared to its average volume of 985,421. The stock has a market cap of $297.67 million, a PE ratio of 12.00 and a beta of 1.56. Fiverr International has a 1-year low of $8.01 and a 1-year high of $22.70. The business’s 50-day simple moving average is $8.73 and its 200-day simple moving average is $10.56.

Fiverr International (NYSE:FVRR) last announced its quarterly earnings results on Thursday, October 29th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.14. Fiverr International had a net margin of 6.42% and a return on equity of 13.54%. The company had revenue of $90.90 million for the quarter, compared to analyst estimates of $83.78 million. During the same quarter last year, the business earned $0.15 EPS. Fiverr International’s revenue for the quarter was down 15.8% on a year-over-year basis. On average, sell-side analysts expect that Fiverr International will post 0.88 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Citigroup decreased their price target on Fiverr International from $11.50 to $10.00 and set a “neutral” rating on the stock in a research note on Monday. Needham & Company LLC reiterated a “hold” rating on shares of Fiverr International in a research report on Friday, October 30th. Scotiabank reduced their price target on shares of Fiverr International from $10.00 to $9.00 and set a “sector perform” rating for the company in a research report on Friday, October 30th. Oppenheimer downgraded Fiverr International from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 30th. Finally, JPMorgan Chase & Co. reduced their target price on Fiverr International from $10.00 to $9.00 and set a “neutral” rating on the stock in a research note on Friday, October 30th. Eleven research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Fiverr International currently has an average rating of “Reduce” and a consensus price target of $11.06.

Fiverr International Company Profile

Fiverr International Ltd. operates an online marketplace that connects businesses and individual customers with freelancers offering digital services. The platform covers categories such as graphic design, digital marketing, writing and translation, video and animation, programming and technology, music and audio, business services, and consulting.

Fiverr’s marketplace is designed to support transactions between buyers and sellers, including service discovery, communication, payments, and delivery.