Riskified Ltd. (NYSE:RSKD) Shares Purchased by Clearline Capital LP

Clearline Capital LP boosted its stake in shares of Riskified Ltd. (NYSE:RSKD) by 10.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,853,922 shares of the company’s stock after purchasing an additional 173,694 shares during the quarter. Clearline Capital LP owned approximately 1.04% of Riskified worth $8,769,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Clal Insurance Enterprises Holdings Ltd lifted its stake in Riskified by 76.0% in the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 6,734,508 shares of the company’s stock worth $31,854,000 after acquiring an additional 2,907,585 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of Riskified by 199.4% in the 2nd quarter. Acadian Asset Management LLC now owns 2,632,439 shares of the company’s stock valued at $16,803,000 after purchasing an additional 1,753,260 shares during the period. Jennison Associates LLC grew its stake in Riskified by 11.2% during the 3rd quarter. Jennison Associates LLC now owns 5,682,144 shares of the company’s stock worth $26,877,000 after buying an additional 573,596 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Riskified by 37.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,052,944 shares of the company’s stock valued at $4,980,000 after buying an additional 286,603 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Riskified by 17.2% in the second quarter. Renaissance Technologies LLC now owns 1,118,900 shares of the company’s stock valued at $7,150,000 after acquiring an additional 164,600 shares during the period. Hedge funds and other institutional investors own 58.98% of the company’s stock.

Wall Street Analyst Weigh In

RSKD has been the subject of several research reports. The Goldman Sachs Group reduced their price target on shares of Riskified from $6.00 to $4.50 and set a “sell” rating for the company in a research report on Thursday, August 15th. UBS Group lowered their price target on Riskified from $4.75 to $4.50 and set a “neutral” rating on the stock in a report on Thursday, November 14th. JPMorgan Chase & Co. upped their price target on Riskified from $6.00 to $7.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Truist Financial lowered their price objective on shares of Riskified from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Finally, DA Davidson upgraded shares of Riskified to a “hold” rating in a research report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $5.91.

Riskified Stock Up 1.0 %

Shares of NYSE RSKD opened at $4.85 on Monday. The stock has a market capitalization of $864.63 million, a price-to-earnings ratio of -24.25 and a beta of 1.36. Riskified Ltd. has a 52 week low of $3.98 and a 52 week high of $6.64. The firm has a 50-day moving average price of $4.56 and a 200 day moving average price of $5.35.

Riskified (NYSE:RSKD) last posted its quarterly earnings results on Wednesday, November 13th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. The company had revenue of $78.80 million during the quarter, compared to the consensus estimate of $75.01 million. Riskified had a negative net margin of 10.72% and a negative return on equity of 6.00%. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period last year, the firm earned ($0.12) EPS. Equities research analysts expect that Riskified Ltd. will post -0.15 EPS for the current fiscal year.

Riskified declared that its Board of Directors has authorized a share repurchase plan on Wednesday, November 13th that permits the company to repurchase $75.00 million in shares. This repurchase authorization permits the company to reacquire up to 9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

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.