Riskified (NYSE:RSKD) Sees Large Volume Increase – Here’s Why

Riskified Ltd. (NYSE:RSKD) saw strong trading volume on Thursday. 1,716,194 shares traded hands during mid-day trading, an increase of 65% from the previous session’s volume of 1,042,559 shares. The stock last traded at $7.5880 and had previously closed at $7.14.

Analyst Ratings Changes

Several brokerages recently commented on RSKD. Wall Street Zen raised shares of Riskified from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 30th. The Goldman Sachs Group lifted their price target on shares of Riskified from $4.75 to $5.50 and gave the company a “sell” rating in a report on Wednesday, August 12th. Keefe, Bruyette & Woods boosted their price objective on shares of Riskified from $5.50 to $6.25 and gave the company a “market perform” rating in a research note on Thursday, August 13th. UBS Group upped their price objective on Riskified from $5.00 to $6.75 and gave the stock a “neutral” rating in a report on Thursday, August 13th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Riskified in a research report on Friday, August 14th. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Riskified has a consensus rating of “Hold” and a consensus price target of $6.50.

Riskified Price Performance

The business’s 50-day simple moving average is $5.99 and its two-hundred day simple moving average is $5.11. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of -71.04 and a beta of 1.38.

Riskified (NYSE:RSKD) last released its quarterly earnings data on Thursday, August 13th. The company reported $0.02 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.02. Riskified had a negative net margin of 4.23% and a negative return on equity of 3.93%. The company had revenue of $98.69 million during the quarter, compared to analyst estimates of $89.18 million. As a group, sell-side analysts expect that Riskified Ltd. will post -0.03 EPS for the current year.

Insider Activity

In other Riskified news, insider Assaf Feldman sold 43,904 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $6.51, for a total value of $285,815.04. Following the transaction, the insider directly owned 1,167,371 shares of the company’s stock, valued at $7,599,585.21. This trade represents a 3.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Avi Shauli sold 30,000 shares of the business’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $6.44, for a total value of $193,200.00. Following the transaction, the chief technology officer owned 485,625 shares in the company, valued at approximately $3,127,425. This represents a 5.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 4,989,901 shares of company stock worth $28,455,925 in the last quarter. Insiders own 17.40% of the company’s stock.

Institutional Investors Weigh In On Riskified

Hedge funds have recently modified their holdings of the stock. T3 Companies LLC acquired a new position in Riskified during the 4th quarter worth approximately $54,000. Modern Wealth Management LLC acquired a new stake in Riskified in the first quarter valued at approximately $56,000. R Squared Ltd raised its stake in shares of Riskified by 57.8% during the first quarter. R Squared Ltd now owns 19,813 shares of the company’s stock valued at $78,000 after purchasing an additional 7,257 shares during the period. 9823 Capital L.P. purchased a new stake in shares of Riskified during the fourth quarter valued at approximately $182,000. Finally, Engineers Gate Manager LP raised its stake in shares of Riskified by 13.7% during the second quarter. Engineers Gate Manager LP now owns 64,591 shares of the company’s stock valued at $326,000 after purchasing an additional 7,799 shares during the period. 58.98% of the stock is currently owned by hedge funds and other institutional investors.

About Riskified

Riskified Ltd. is a technology company that provides fraud and risk-management solutions for e-commerce businesses. Its platform uses data analytics, machine learning and network insights to help merchants distinguish legitimate customers from fraudulent transactions, reduce payment-related losses and improve the online shopping experience.

The company’s product offerings include solutions designed to protect merchants from chargebacks, identify and prevent policy abuse, secure customer accounts and support payment approval decisions.