Jane Street Group LLC reduced its position in shares of Riskified Ltd. (NYSE:RSKD – Free Report) by 73.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 12,375 shares of the company’s stock after selling 34,611 shares during the quarter. Jane Street Group LLC’s holdings in Riskified were worth $59,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of RSKD. 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 purchasing an additional 2,907,585 shares during the last quarter. Jennison Associates LLC increased its position 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 purchasing an additional 573,596 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in Riskified by 37.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,052,944 shares of the company’s stock worth $4,980,000 after purchasing an additional 286,603 shares during the last quarter. Harvey Partners LLC increased its position in shares of Riskified by 9.7% during the third quarter. Harvey Partners LLC now owns 3,227,500 shares of the company’s stock valued at $15,266,000 after acquiring an additional 286,500 shares during the last quarter. Finally, Clearline Capital LP increased its position in shares of Riskified by 19.4% during the second quarter. Clearline Capital LP now owns 1,680,228 shares of the company’s stock valued at $10,737,000 after acquiring an additional 272,760 shares during the last quarter. 58.98% of the stock is currently owned by institutional investors and hedge funds.
Riskified Trading Up 4.6 %
Shares of NYSE:RSKD opened at $5.04 on Thursday. The company has a market capitalization of $898.51 million, a PE ratio of -25.20 and a beta of 1.37. Riskified Ltd. has a twelve month low of $4.14 and a twelve month high of $6.64. The firm has a 50 day simple moving average of $4.74 and a 200-day simple moving average of $5.04.
Riskified declared that its Board of Directors has initiated a stock 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 repurchase up to 9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.
Analysts Set New Price Targets
RSKD has been the subject of a number of recent analyst reports. The Goldman Sachs Group dropped their price target on shares of Riskified from $4.50 to $4.00 and set a “sell” rating for the company in a research report on Monday, December 2nd. DA Davidson upgraded shares of Riskified to a “hold” rating in a research report on Thursday, November 14th. UBS Group dropped their price target on shares of Riskified from $4.75 to $4.50 and set a “neutral” rating for the company in a research report on Thursday, November 14th. Piper Sandler dropped their price target on shares of Riskified from $7.00 to $6.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Riskified from $5.50 to $5.25 and set a “market perform” rating for the company in a research note on Thursday, November 14th. One 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $5.72.
Read Our Latest Stock Report on RSKD
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.
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