Invenomic Capital Management LP Acquires 174,953 Shares of Riskified Ltd. (NYSE:RSKD)

Invenomic Capital Management LP grew its position in shares of Riskified Ltd. (NYSE:RSKD) by 29.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 763,203 shares of the company’s stock after purchasing an additional 174,953 shares during the quarter. Invenomic Capital Management LP owned about 0.43% of Riskified worth $4,129,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital World Investors grew its position in Riskified by 6.3% in the 4th quarter. Capital World Investors now owns 9,774,367 shares of the company’s stock valued at $45,744,000 after purchasing an additional 580,000 shares during the period. Rubric Capital Management LP boosted its holdings in Riskified by 159.2% during the 4th quarter. Rubric Capital Management LP now owns 4,173,636 shares of the company’s stock worth $19,533,000 after acquiring an additional 2,563,384 shares during the last quarter. Jennison Associates LLC boosted its holdings in Riskified by 2.1% during the 1st quarter. Jennison Associates LLC now owns 1,710,472 shares of the company’s stock worth $9,254,000 after acquiring an additional 35,699 shares during the last quarter. Formation8 GP LLC purchased a new position in Riskified during the 4th quarter worth $7,949,000. Finally, Acadian Asset Management LLC boosted its holdings in Riskified by 0.9% during the 1st quarter. Acadian Asset Management LLC now owns 879,179 shares of the company’s stock worth $4,743,000 after acquiring an additional 7,644 shares during the last quarter. Institutional investors own 58.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on RSKD shares. DA Davidson lifted their price objective on shares of Riskified from $5.00 to $7.00 and gave the stock a “neutral” rating in a report on Thursday, May 16th. Barclays lifted their target price on Riskified from $5.00 to $6.00 and gave the stock an “equal weight” rating in a research note on Monday, May 20th. JPMorgan Chase & Co. lifted their target price on Riskified from $6.00 to $7.00 and gave the stock a “neutral” rating in a research note on Thursday, May 16th. The Goldman Sachs Group cut Riskified from a “neutral” rating to a “sell” rating and set a $6.00 target price on the stock. in a research note on Wednesday, July 10th. Finally, Keefe, Bruyette & Woods lifted their target price on Riskified from $5.75 to $6.00 and gave the stock a “market perform” rating in a research note on Thursday, May 16th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $6.75.

Riskified Stock Up 2.1 %

Riskified stock traded up $0.13 during midday trading on Wednesday, reaching $6.34. The stock had a trading volume of 215,147 shares, compared to its average volume of 667,820. The firm’s 50-day moving average price is $6.25 and its 200 day moving average price is $5.44. Riskified Ltd. has a 12 month low of $3.48 and a 12 month high of $6.64. The firm has a market capitalization of $1.13 billion, a PE ratio of -20.02 and a beta of 1.40.

Riskified (NYSE:RSKD) last announced its quarterly earnings results on Wednesday, May 15th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.01. Riskified had a negative return on equity of 9.55% and a negative net margin of 17.28%. The firm had revenue of $76.41 million for the quarter, compared to analysts’ expectations of $75.40 million. Equities research analysts expect that Riskified Ltd. will post -0.17 EPS for the current year.

Riskified Company Profile

Riskified Ltd., together with its subsidiaries, develops and offers an e-commerce risk management platform that allows online merchants to create trusted relationships with consumers in the United States, Europe, the Middle East, Africa, the Asia-Pacific, and the Americas. It offers Chargeback Guarantee that ensures the legitimacy of merchants' online orders; Policy Protect, a machine learning solution designed to detect and prevent refund and returns policy abuse in real-time; Account Secure, a solution that cross-checks every login attempt; Dispute Resolve, which is used to compile submissions for fraud and non-fraud related chargeback issues; and PSD2 Optimize that helps merchants avoid bank authorization failures and abandoned shopping carts.