Clearline Capital LP Increases Stock Position in Riskified Ltd. (NYSE:RSKD)

Clearline Capital LP lifted its holdings in shares of Riskified Ltd. (NYSE:RSKD) by 10.3% in the third quarter, HoldingsChannel reports. The firm owned 1,853,922 shares of the company’s stock after acquiring an additional 173,694 shares during the period. Clearline Capital LP’s holdings in Riskified were worth $8,769,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the stock. Clal Insurance Enterprises Holdings Ltd increased its position in Riskified by 76.0% during the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 6,734,508 shares of the company’s stock worth $31,854,000 after buying an additional 2,907,585 shares in the last quarter. Acadian Asset Management LLC increased its position in Riskified by 199.4% during the 2nd quarter. Acadian Asset Management LLC now owns 2,632,439 shares of the company’s stock worth $16,803,000 after purchasing an additional 1,753,260 shares in the last quarter. Jennison Associates LLC raised 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 valued at $26,877,000 after purchasing an additional 573,596 shares during the last quarter. Allspring Global Investments Holdings LLC lifted 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 purchasing an additional 286,603 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake 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 purchasing an additional 164,600 shares during the last quarter. 58.98% of the stock is currently owned by institutional investors and hedge funds.

Riskified Price Performance

NYSE RSKD opened at $4.85 on Monday. Riskified Ltd. has a 1-year low of $3.98 and a 1-year high of $6.64. The firm has a market capitalization of $864.63 million, a P/E ratio of -24.25 and a beta of 1.36. The business’s 50-day simple moving average is $4.56 and its 200-day simple moving average is $5.35.

Riskified (NYSE:RSKD) last announced its quarterly earnings results on Wednesday, November 13th. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $78.80 million for the quarter, compared to analysts’ expectations of $75.01 million. During the same period in the previous year, the company posted ($0.12) earnings per share. Riskified’s revenue was up 9.6% compared to the same quarter last year. On average, equities research analysts expect that Riskified Ltd. will post -0.15 EPS for the current fiscal year.

Riskified declared that its Board of Directors has approved a share buyback program on Wednesday, November 13th that authorizes the company to buyback $75.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts have commented on RSKD shares. Truist Financial lowered their target price on shares of Riskified from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Keefe, Bruyette & Woods lowered their price objective on Riskified from $5.50 to $5.25 and set a “market perform” rating for the company in a research report on Thursday, November 14th. JPMorgan Chase & Co. increased their target price on Riskified from $6.00 to $7.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. DA Davidson raised Riskified to a “hold” rating in a research note on Thursday, November 14th. Finally, Barclays dropped their price objective on shares of Riskified from $6.00 to $5.00 and set an “equal weight” rating for the company in a research note on Friday, August 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $5.91.

Riskified 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.