State Street Corp Has $3.53 Million Stock Holdings in Riskified Ltd. (NYSE:RSKD)

State Street Corp raised its position in shares of Riskified Ltd. (NYSE:RSKD) by 0.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 745,593 shares of the company’s stock after acquiring an additional 6,927 shares during the period. State Street Corp’s holdings in Riskified were worth $3,527,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in RSKD. Harvey Partners LLC grew its position in shares of Riskified by 9.7% during the 3rd quarter. Harvey Partners LLC now owns 3,227,500 shares of the company’s stock worth $15,266,000 after purchasing an additional 286,500 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in Riskified by 61.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 313,143 shares of the company’s stock worth $1,481,000 after purchasing an additional 119,038 shares during the period. Jennison Associates LLC grew its stake in Riskified by 11.2% during the third quarter. Jennison Associates LLC now owns 5,682,144 shares of the company’s stock worth $26,877,000 after buying an additional 573,596 shares in the last quarter. 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 buying an additional 286,603 shares during the period. Finally, Clearline Capital LP raised its position in shares of Riskified by 19.4% in the 2nd quarter. Clearline Capital LP now owns 1,680,228 shares of the company’s stock valued at $10,737,000 after buying an additional 272,760 shares in the last quarter. Institutional investors own 58.98% of the company’s stock.

Riskified Price Performance

Shares of NYSE:RSKD opened at $4.74 on Tuesday. Riskified Ltd. has a 1 year low of $4.14 and a 1 year high of $6.64. The business’s 50-day moving average is $4.67 and its 200-day moving average is $5.16. The company has a market capitalization of $845.02 million, a price-to-earnings ratio of -23.70 and a beta of 1.38.

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

Riskified announced that its Board of Directors has approved a share buyback plan on Wednesday, November 13th that allows the company to buyback $75.00 million in shares. This buyback authorization allows the company to reacquire up to 9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. UBS Group decreased their price target on Riskified from $4.75 to $4.50 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. Piper Sandler reaffirmed an “overweight” rating and set a $7.00 target price on shares of Riskified in a research note on Thursday, November 14th. DA Davidson upgraded Riskified to a “hold” rating in a research report on Thursday, November 14th. The Goldman Sachs Group reduced their price target on Riskified from $4.50 to $4.00 and set a “sell” rating on the stock in a report on Monday, December 2nd. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Riskified from $5.50 to $5.25 and set a “market perform” rating on the stock in a 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 issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $5.84.

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.