Riskified Ltd. (NYSE:RSKD) Shares Sold by ARK Investment Management LLC

ARK Investment Management LLC cut its position in shares of Riskified Ltd. (NYSE:RSKD - Free Report) by 26.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 323,018 shares of the company's stock after selling 116,990 shares during the period. ARK Investment Management LLC owned approximately 0.18% of Riskified worth $1,528,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Swiss National Bank raised its stake in shares of Riskified by 7.1% during the first quarter. Swiss National Bank now owns 183,213 shares of the company's stock valued at $991,000 after acquiring an additional 12,200 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Riskified in the first quarter worth about $343,000. Russell Investments Group Ltd. bought a new position in Riskified during the 1st quarter worth about $219,000. Lord Abbett & CO. LLC purchased a new position in Riskified during the 1st quarter valued at about $204,000. Finally, Tocqueville Asset Management L.P. raised its holdings in shares of Riskified by 19.3% in the 1st quarter. Tocqueville Asset Management L.P. now owns 526,000 shares of the company's stock valued at $2,846,000 after purchasing an additional 85,000 shares in the last quarter. Hedge funds and other institutional investors own 58.98% of the company's stock.

Riskified Trading Down 2.5 %

Shares of NYSE:RSKD traded down $0.12 on Friday, hitting $4.60. 286,996 shares of the company were exchanged, compared to its average volume of 648,262. The firm has a market capitalization of $820.04 million, a P/E ratio of -17.69 and a beta of 1.36. The stock's 50 day moving average price is $4.63 and its 200 day moving average price is $5.41. Riskified Ltd. has a 1-year low of $3.75 and a 1-year high of $6.64.

Riskified (NYSE:RSKD - Get Free Report) last announced its quarterly earnings data on Wednesday, August 14th. The company reported ($0.04) earnings per share for the quarter, beating analysts' consensus estimates of ($0.06) by $0.02. Riskified had a negative return on equity of 8.33% and a negative net margin of 14.57%. The business had revenue of $78.73 million for the quarter, compared to analyst estimates of $78.33 million. On average, equities analysts predict that Riskified Ltd. will post -0.17 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on RSKD shares. Truist Financial cut their price objective on shares of Riskified from $8.00 to $7.00 and set a "buy" rating on the stock in a report on Thursday, August 15th. Piper Sandler cut their price target on Riskified from $8.00 to $7.00 and set an "overweight" rating on the stock in a report on Thursday, August 15th. The Goldman Sachs Group decreased their price objective on Riskified from $6.00 to $4.50 and set a "sell" rating for the company in a research note on Thursday, August 15th. Barclays lowered their price target on shares of Riskified from $6.00 to $5.00 and set an "equal weight" rating on the stock in a report on Friday, August 16th. Finally, UBS Group lowered their target price on shares of Riskified from $6.00 to $4.75 and set a "neutral" rating for the company in a research note on Thursday, August 15th. 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. According to data from MarketBeat, Riskified currently has a consensus rating of "Hold" and an average price target of $6.03.

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.