Connor Clark & Lunn Investment Management Ltd. Acquires 119,038 Shares of Riskified Ltd. (NYSE:RSKD)

Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Riskified Ltd. (NYSE:RSKD) by 61.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 313,143 shares of the company’s stock after acquiring an additional 119,038 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Riskified were worth $1,481,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Acadian Asset Management LLC boosted its position in shares of Riskified by 199.4% during the second quarter. Acadian Asset Management LLC now owns 2,632,439 shares of the company’s stock valued at $16,803,000 after buying an additional 1,753,260 shares during the last quarter. Jennison Associates LLC boosted its stake in Riskified by 11.2% in the 3rd quarter. Jennison Associates LLC now owns 5,682,144 shares of the company’s stock worth $26,877,000 after purchasing an additional 573,596 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Riskified by 37.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,052,944 shares of the company’s stock valued at $4,980,000 after acquiring an additional 286,603 shares during the last quarter. Clearline Capital LP lifted its position in shares of Riskified by 19.4% in the second quarter. Clearline Capital LP now owns 1,680,228 shares of the company’s stock worth $10,737,000 after buying an additional 272,760 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Riskified by 17.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,118,900 shares of the company’s stock worth $7,150,000 after acquiring an additional 164,600 shares in the last quarter. Institutional investors own 58.98% of the company’s stock.

Wall Street Analysts Forecast Growth

RSKD has been the subject of a number of analyst reports. Keefe, Bruyette & Woods lowered their price target on shares of Riskified from $5.50 to $5.25 and set a “market perform” rating for the company in a report on Thursday, November 14th. Barclays dropped their target price on shares of Riskified from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Friday, August 16th. JPMorgan Chase & Co. upped their price target on shares of Riskified from $6.00 to $7.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. UBS Group lowered their target price 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, The Goldman Sachs Group lowered their price objective on shares of Riskified from $6.00 to $4.50 and set a “sell” rating for the company in a research note on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Riskified currently has a consensus rating of “Hold” and a consensus price target of $5.91.

Riskified Stock Performance

Shares of RSKD stock opened at $4.69 on Wednesday. The company has a market capitalization of $836.09 million, a P/E ratio of -23.45 and a beta of 1.36. Riskified Ltd. has a 12-month low of $3.97 and a 12-month high of $6.64. The business’s 50 day moving average is $4.56 and its two-hundred day moving average is $5.36.

Riskified (NYSE:RSKD) last issued its quarterly earnings results on Wednesday, November 13th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. The firm had revenue of $78.80 million for the quarter, compared to analyst estimates of $75.01 million. Riskified had a negative return on equity of 6.00% and a negative net margin of 10.72%. The business’s revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.12) earnings per share. On average, research analysts predict 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 stock repurchase plan on Wednesday, November 13th that allows the company to buyback $75.00 million in shares. This buyback authorization allows the company to buy up to 9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are 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.