Harvey Partners LLC Raises Stake in Riskified Ltd. (NYSE:RSKD)

Harvey Partners LLC grew its position in shares of Riskified Ltd. (NYSE:RSKD - Free Report) by 9.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,227,500 shares of the company's stock after acquiring an additional 286,500 shares during the quarter. Riskified comprises 1.7% of Harvey Partners LLC's holdings, making the stock its 27th largest holding. Harvey Partners LLC owned 1.81% of Riskified worth $15,266,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of RSKD. nVerses Capital LLC bought a new stake in Riskified during the second quarter worth $29,000. Valmark Advisers Inc. bought a new stake in Riskified during the second quarter worth $104,000. Quantbot Technologies LP bought a new stake in Riskified during the third quarter worth $120,000. Olympiad Research LP bought a new stake in Riskified during the third quarter worth $150,000. Finally, Squarepoint Ops LLC bought a new stake in Riskified during the second quarter worth $163,000. Institutional investors own 58.98% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods decreased their price target on Riskified from $5.50 to $5.25 and set a "market perform" rating for the company in a report on Thursday, November 14th. DA Davidson raised Riskified to a "hold" rating in a research report on Thursday, November 14th. UBS Group cut their price objective on Riskified from $4.75 to $4.50 and set a "neutral" rating on the stock in a research report on Thursday, November 14th. Piper Sandler reissued an "overweight" rating and issued a $7.00 price objective on shares of Riskified in a research report on Thursday, November 14th. Finally, Truist Financial cut their price objective on Riskified from $8.00 to $7.00 and set a "buy" rating on the stock in a research report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $5.84.

Riskified Price Performance

Shares of NYSE RSKD traded up $0.11 during trading on Tuesday, reaching $4.88. 580,187 shares of the stock traded hands, compared to its average volume of 666,975. Riskified Ltd. has a 52-week low of $4.01 and a 52-week high of $6.64. The company has a 50-day moving average of $4.56 and a 200-day moving average of $5.33. The stock has a market capitalization of $869.96 million, a P/E ratio of -24.40 and a beta of 1.38.

Riskified (NYSE:RSKD - Get Free Report) last issued its quarterly earnings results on Wednesday, November 13th. The company reported $0.03 EPS for the quarter, beating analysts' consensus estimates of $0.02 by $0.01. Riskified had a negative return on equity of 6.00% and a negative net margin of 10.72%. The firm had revenue of $78.80 million for the quarter, compared to analysts' expectations of $75.01 million. During the same quarter in the prior year, the firm earned ($0.12) EPS. The business's revenue for the quarter was up 9.6% compared to the same quarter last year. Analysts expect that Riskified Ltd. will post -0.15 earnings per share for the current fiscal year.

Riskified announced that its Board of Directors has initiated a share repurchase program on Wednesday, November 13th that authorizes the company to buyback $75.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 9% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its stock is undervalued.

About Riskified

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.