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

Connor Clark & Lunn Investment Management Ltd. boosted its position in Riskified Ltd. (NYSE:RSKD) by 61.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 313,143 shares of the company’s stock after acquiring an additional 119,038 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.18% of Riskified worth $1,481,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. nVerses Capital LLC bought a new position in Riskified in the 2nd quarter valued at approximately $29,000. Valmark Advisers Inc. acquired a new position in shares of Riskified in the 2nd quarter valued at about $104,000. Olympiad Research LP acquired a new position in Riskified in the third quarter valued at approximately $150,000. Squarepoint Ops LLC acquired a new position in shares of Riskified during the 2nd quarter valued at $163,000. Finally, State of New Jersey Common Pension Fund D bought a new position in shares of Riskified during the 2nd quarter worth about $208,000. Institutional investors and hedge funds own 58.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Keefe, Bruyette & Woods cut their target price on Riskified from $5.50 to $5.25 and set a “market perform” rating on the stock in a report on Thursday, November 14th. Piper Sandler reaffirmed an “overweight” rating and issued a $7.00 target price on shares of Riskified in a report on Thursday, November 14th. DA Davidson upgraded shares of Riskified to a “hold” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. boosted their target price on Riskified from $6.00 to $7.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Finally, UBS Group dropped their price target on shares of Riskified from $4.75 to $4.50 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. One equities research 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $5.91.

Riskified Price Performance

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

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. The business had revenue of $78.80 million during 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%. Riskified’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.12) earnings per share. On average, equities research analysts expect that Riskified Ltd. will post -0.15 EPS for the current fiscal year.

Riskified declared that its board has initiated a share repurchase plan on Wednesday, November 13th that permits the company to repurchase $75.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 9% of its stock through open market purchases. Stock repurchase plans are typically a sign 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.