Rubric Capital Management LP lowered its stake in shares of Riskified Ltd. (NYSE:RSKD - Free Report) by 19.0% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 3,379,662 shares of the company's stock after selling 793,974 shares during the period. Rubric Capital Management LP owned about 1.90% of Riskified worth $15,986,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of RSKD. Russell Investments Group Ltd. acquired a new stake in shares of Riskified during the 1st quarter valued at about $219,000. Quadrature Capital Ltd lifted its stake in Riskified by 16.7% in the 1st quarter. Quadrature Capital Ltd now owns 50,357 shares of the company's stock worth $272,000 after purchasing an additional 7,200 shares in the last quarter. California State Teachers Retirement System lifted its stake in Riskified by 10.8% in the 1st quarter. California State Teachers Retirement System now owns 90,693 shares of the company's stock worth $491,000 after purchasing an additional 8,814 shares in the last quarter. Tidal Investments LLC purchased a new position in Riskified in the 1st quarter worth approximately $547,000. Finally, Harbor Capital Advisors Inc. lifted its stake in Riskified by 181.2% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 101,895 shares of the company's stock worth $651,000 after purchasing an additional 65,653 shares in the last quarter. Hedge funds and other institutional investors own 58.98% of the company's stock.
Analysts Set New Price Targets
RSKD has been the topic of a number of research reports. Truist Financial decreased their target price on shares of Riskified from $8.00 to $7.00 and set a "buy" rating on the stock in a research note on Thursday, August 15th. Barclays reduced their price target on shares of Riskified from $6.00 to $5.00 and set an "equal weight" rating on the stock in a research report on Friday, August 16th. UBS Group reduced their price target on shares of Riskified from $4.75 to $4.50 and set a "neutral" rating on the stock in a research report on Thursday, November 14th. Keefe, Bruyette & Woods reduced their price target on shares of Riskified from $5.50 to $5.25 and set a "market perform" rating on the stock in a research report on Thursday, November 14th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Riskified from $6.00 to $7.00 and gave the company a "neutral" rating in a research report on Tuesday, August 20th. One equities 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's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $5.91.
Check Out Our Latest Stock Report on RSKD
Riskified Stock Performance
Shares of NYSE:RSKD traded up $0.11 during trading on Wednesday, hitting $4.80. The company's stock had a trading volume of 536,904 shares, compared to its average volume of 668,743. The business has a 50 day moving average price of $4.56 and a two-hundred day moving average price of $5.36. The company has a market capitalization of $855.70 million, a PE ratio of -23.90 and a beta of 1.36. Riskified Ltd. has a fifty-two week low of $3.97 and a fifty-two week high of $6.64.
Riskified (NYSE:RSKD - Get Free Report) last posted its quarterly earnings results on Wednesday, November 13th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.02 by $0.01. The business 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 quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.12) earnings per share. As a group, equities analysts expect that Riskified Ltd. will post -0.15 earnings per share for the current fiscal year.
Riskified declared that its board has approved a stock buyback program on Wednesday, November 13th that allows the company to repurchase $75.00 million in shares. This repurchase authorization allows the company to reacquire up to 9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its stock is undervalued.
About Riskified
(
Free Report)
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.
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