Bronte Capital Management Pty Ltd. Sells 14,843 Shares of Riskified Ltd. (NYSE:RSKD)

Bronte Capital Management Pty Ltd. reduced its position in shares of Riskified Ltd. (NYSE:RSKD) by 3.1% during the fourth quarter, Holdings Channel reports. The firm owned 469,260 shares of the company’s stock after selling 14,843 shares during the period. Riskified makes up 0.3% of Bronte Capital Management Pty Ltd.’s holdings, making the stock its 14th largest holding. Bronte Capital Management Pty Ltd.’s holdings in Riskified were worth $2,220,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently made changes to their positions in RSKD. State of New Jersey Common Pension Fund D lifted its position in shares of 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 valued at $320,000 after purchasing an additional 35,096 shares in the last quarter. Jennison Associates LLC raised its position in Riskified by 11.2% in the third quarter. Jennison Associates LLC now owns 5,682,144 shares of the company’s stock worth $26,877,000 after acquiring an additional 573,596 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in Riskified by 61.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 313,143 shares of the company’s stock worth $1,481,000 after acquiring an additional 119,038 shares during the period. Clal Insurance Enterprises Holdings Ltd raised its position in Riskified by 76.0% in the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 6,734,508 shares of the company’s stock worth $31,854,000 after acquiring an additional 2,907,585 shares during the period. Finally, Quantbot Technologies LP bought a new stake in Riskified in the third quarter worth about $120,000. 58.98% of the stock is owned by institutional investors.

Riskified Stock Up 2.1 %

RSKD opened at $4.67 on Wednesday. The company has a market capitalization of $831.65 million, a price-to-earnings ratio of -23.32 and a beta of 1.37. The firm has a 50-day moving average price of $5.16 and a 200-day moving average price of $4.85. Riskified Ltd. has a twelve month low of $4.14 and a twelve month high of $6.64.

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

Wall Street Analyst Weigh In

Several analysts have commented on RSKD shares. Piper Sandler lifted their price objective on shares of Riskified from $6.00 to $7.00 and gave the stock an “overweight” rating in a research report on Thursday, March 6th. DA Davidson raised shares of Riskified from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $5.00 to $7.00 in a research report on Monday, March 3rd. The Goldman Sachs Group lifted their price objective on shares of Riskified from $4.00 to $4.50 and gave the stock a “sell” rating in a research report on Thursday, March 6th. UBS Group lowered their price objective 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. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Riskified from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Monday. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $5.78.

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.