Allspring Global Investments Holdings LLC Sells 58,922 Shares of Riskified Ltd. (NYSE:RSKD)

Allspring Global Investments Holdings LLC lessened its stake in Riskified Ltd. (NYSE:RSKD - Free Report) by 5.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 994,022 shares of the company's stock after selling 58,922 shares during the period. Allspring Global Investments Holdings LLC owned about 0.56% of Riskified worth $4,702,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Quantbot Technologies LP bought a new position in Riskified during the third quarter worth $120,000. Olympiad Research LP bought a new position in shares of Riskified in the 3rd quarter worth about $150,000. Y.D. More Investments Ltd lifted its stake in shares of Riskified by 16.6% in the 4th quarter. Y.D. More Investments Ltd now owns 35,614 shares of the company's stock valued at $168,000 after purchasing an additional 5,081 shares during the period. Barclays PLC boosted its position in shares of Riskified by 106.6% during the 3rd quarter. Barclays PLC now owns 39,174 shares of the company's stock valued at $186,000 after purchasing an additional 20,213 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D grew its stake in Riskified by 107.7% during the third quarter. State of New Jersey Common Pension Fund D now owns 67,686 shares of the company's stock worth $320,000 after purchasing an additional 35,096 shares during the period. Institutional investors and hedge funds own 58.98% of the company's stock.

Riskified Trading Down 3.0 %

Shares of RSKD traded down $0.17 on Friday, reaching $5.37. The company's stock had a trading volume of 316,480 shares, compared to its average volume of 454,099. Riskified Ltd. has a twelve month low of $4.14 and a twelve month high of $6.64. The stock has a market capitalization of $956.42 million, a PE ratio of -26.82 and a beta of 1.38. The firm has a fifty day moving average of $5.08 and a 200-day moving average of $4.88.

Riskified announced that its Board of Directors has approved a stock repurchase program on Wednesday, November 13th that authorizes the company to repurchase $75.00 million in shares. This repurchase authorization authorizes the company to purchase up to 9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several brokerages have issued reports on RSKD. Piper Sandler dropped their price target on Riskified from $7.00 to $6.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 8th. UBS Group cut their target price on shares of Riskified from $4.75 to $4.50 and set a "neutral" rating on the stock in a research note on Thursday, November 14th. Keefe, Bruyette & Woods decreased their price target on shares of Riskified from $5.50 to $5.25 and set a "market perform" rating for the company in a research note on Thursday, November 14th. The Goldman Sachs Group cut their price objective on shares of Riskified from $4.50 to $4.00 and set a "sell" rating on the stock in a research report on Monday, December 2nd. Finally, DA Davidson raised Riskified to a "hold" rating in a research report on Thursday, November 14th. One equities 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 company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $5.72.

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.