Renaissance Technologies LLC Acquires 164,600 Shares of Riskified Ltd. (NYSE:RSKD)

Renaissance Technologies LLC raised its holdings in Riskified Ltd. (NYSE:RSKD) by 17.2% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,118,900 shares of the company’s stock after acquiring an additional 164,600 shares during the quarter. Renaissance Technologies LLC’s holdings in Riskified were worth $7,150,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. nVerses Capital LLC purchased a new stake in shares of Riskified in the 2nd quarter valued at about $29,000. Covestor Ltd increased its position in shares of Riskified by 2,522.7% during the 1st quarter. Covestor Ltd now owns 7,842 shares of the company’s stock valued at $43,000 after purchasing an additional 7,543 shares during the last quarter. Valmark Advisers Inc. bought a new position in shares of Riskified during the 2nd quarter valued at about $104,000. Aigen Investment Management LP bought a new position in shares of Riskified during the 4th quarter valued at about $84,000. Finally, State of New Jersey Common Pension Fund D bought a new position in shares of Riskified during the 2nd quarter valued at about $208,000. Hedge funds and other institutional investors own 58.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Barclays reduced their price objective on Riskified from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Friday, August 16th. The Goldman Sachs Group reduced their price objective on Riskified from $6.00 to $4.50 and set a “sell” rating on the stock in a research report on Thursday, August 15th. Truist Financial reduced their price objective on Riskified from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. DA Davidson upgraded Riskified to a “hold” rating in a research report on Wednesday, September 11th. Finally, JPMorgan Chase & Co. raised their price target on Riskified from $6.00 to $7.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. One equities research 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $6.03.

Riskified Price Performance

RSKD opened at $4.70 on Thursday. The stock’s 50 day simple moving average is $5.28 and its 200 day simple moving average is $5.56. Riskified Ltd. has a 1 year low of $3.48 and a 1 year high of $6.64. The firm has a market cap of $837.87 million, a price-to-earnings ratio of -15.16 and a beta of 1.37.

Riskified (NYSE:RSKD) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. The firm had revenue of $78.73 million for the quarter, compared to analyst estimates of $78.33 million. Riskified had a negative return on equity of 8.33% and a negative net margin of 14.57%. As a group, sell-side analysts anticipate that Riskified Ltd. will post -0.17 EPS for the current year.

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.