272 Capital LP Cuts Position in Riskified Ltd. (NYSE:RSKD)

272 Capital LP lessened its holdings in Riskified Ltd. (NYSE:RSKD) by 15.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,054,109 shares of the company’s stock after selling 198,985 shares during the quarter. Riskified comprises 2.6% of 272 Capital LP’s portfolio, making the stock its 11th largest position. 272 Capital LP owned approximately 0.59% of Riskified worth $4,986,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Tidal Investments LLC lifted its position in Riskified by 4.8% during the third quarter. Tidal Investments LLC now owns 100,525 shares of the company’s stock valued at $475,000 after purchasing an additional 4,616 shares during the period. Barclays PLC raised its position in Riskified by 106.6% in the third quarter. Barclays PLC now owns 39,174 shares of the company’s stock worth $186,000 after acquiring an additional 20,213 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in shares of Riskified in the third quarter worth $1,438,000. State Street Corp increased its stake in shares of Riskified by 0.9% in the third quarter. State Street Corp now owns 745,593 shares of the company’s stock worth $3,527,000 after purchasing an additional 6,927 shares in the last quarter. Finally, Harvey Partners LLC grew its stake in Riskified by 9.7% during the third quarter. Harvey Partners LLC now owns 3,227,500 shares of the company’s stock valued at $15,266,000 after acquiring an additional 286,500 shares in the last quarter. Hedge funds and other institutional investors own 58.98% of the company’s stock.

Riskified Trading Down 1.6 %

Shares of RSKD opened at $5.02 on Friday. Riskified Ltd. has a 1-year low of $4.14 and a 1-year high of $6.64. The company has a 50-day moving average of $4.62 and a 200 day moving average of $5.28.

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

Riskified announced that its board has approved a stock repurchase plan on Wednesday, November 13th that allows the company to repurchase $75.00 million in shares. This repurchase authorization allows the company to buy up to 9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Several equities analysts recently weighed in on RSKD shares. Barclays cut their target price on shares of Riskified from $6.00 to $5.00 and set an “equal weight” rating for the company in a research note on Friday, August 16th. JPMorgan Chase & Co. raised their target price on shares of Riskified from $6.00 to $7.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Piper Sandler reissued an “overweight” rating and issued a $7.00 price objective on shares of Riskified in a research note on Thursday, November 14th. UBS Group dropped their price objective on shares of Riskified from $4.75 to $4.50 and set a “neutral” rating for the company in a research note on Thursday, November 14th. Finally, DA Davidson raised shares of Riskified to a “hold” rating in a research note on Thursday, November 14th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $5.84.

Riskified 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.