Rubric Capital Management LP Cuts Stock Position in Riskified Ltd. (NYSE:RSKD)

Rubric Capital Management LP trimmed its position in shares of Riskified Ltd. (NYSE:RSKD) by 19.0% in the third quarter, HoldingsChannel.com reports. The fund owned 3,379,662 shares of the company’s stock after selling 793,974 shares during the period. Rubric Capital Management LP’s holdings in Riskified were worth $15,986,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. nVerses Capital LLC purchased a new position in shares of Riskified in the second quarter valued at approximately $29,000. Valmark Advisers Inc. purchased a new position in Riskified in the 2nd quarter valued at approximately $104,000. Quantbot Technologies LP acquired a new position in shares of Riskified in the third quarter worth $120,000. Olympiad Research LP purchased a new stake in shares of Riskified during the third quarter worth $150,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Riskified in the second quarter valued at $163,000. 58.98% of the stock is owned by institutional investors and hedge funds.

Riskified Stock Performance

Shares of NYSE:RSKD opened at $4.69 on Wednesday. Riskified Ltd. has a 12 month low of $3.97 and a 12 month high of $6.64. The company’s fifty day moving average price is $4.56 and its 200 day moving average price is $5.36.

Riskified (NYSE:RSKD) last announced its earnings results on Wednesday, November 13th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. The firm had revenue of $78.80 million during the quarter, compared to analysts’ expectations of $75.01 million. Riskified had a negative return on equity of 6.00% and a negative net margin of 10.72%. The business’s revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.12) EPS. On average, analysts anticipate that Riskified Ltd. will post -0.15 EPS for the current fiscal year.

Riskified declared that its Board of Directors has initiated a stock buyback program on Wednesday, November 13th that allows the company to buyback $75.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on RSKD shares. JPMorgan Chase & Co. upped their price target on Riskified from $6.00 to $7.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Barclays reduced their target price on shares of Riskified from $6.00 to $5.00 and set an “equal weight” rating on the stock in a report on Friday, August 16th. The Goldman Sachs Group dropped their price objective on shares of Riskified from $6.00 to $4.50 and set a “sell” rating on the stock in a research report on Thursday, August 15th. Piper Sandler reaffirmed an “overweight” rating and set a $7.00 price objective on shares of Riskified in a research report on Thursday, November 14th. Finally, DA Davidson raised Riskified to a “hold” rating in a report on Thursday, November 14th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $5.91.

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.