ARK Investment Management LLC Cuts Holdings in Riskified Ltd. (NYSE:RSKD)

ARK Investment Management LLC lowered its holdings in Riskified Ltd. (NYSE:RSKD) by 9.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 440,008 shares of the company’s stock after selling 47,166 shares during the quarter. ARK Investment Management LLC owned 0.25% of Riskified worth $2,812,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of RSKD. Quadrature Capital Ltd lifted its position in Riskified by 16.7% during the first quarter. Quadrature Capital Ltd now owns 50,357 shares of the company’s stock valued at $272,000 after purchasing an additional 7,200 shares in the last quarter. Covestor Ltd grew its stake 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 acquiring an additional 7,543 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Riskified by 41.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,082 shares of the company’s stock worth $122,000 after acquiring an additional 7,609 shares in the last quarter. Acadian Asset Management LLC raised its stake in Riskified by 0.9% during the 1st quarter. Acadian Asset Management LLC now owns 879,179 shares of the company’s stock worth $4,743,000 after acquiring an additional 7,644 shares during the period. Finally, Y.D. More Investments Ltd boosted its position in shares of Riskified by 29.1% in the fourth quarter. Y.D. More Investments Ltd now owns 35,248 shares of the company’s stock worth $152,000 after purchasing an additional 7,938 shares during the period. Institutional investors own 58.98% of the company’s stock.

Riskified Trading Down 0.6 %

Shares of NYSE:RSKD traded down $0.03 on Tuesday, hitting $4.88. 266,331 shares of the company were exchanged, compared to its average volume of 702,487. The stock’s 50 day moving average price is $5.95 and its 200 day moving average price is $5.55. Riskified Ltd. has a 1-year low of $3.48 and a 1-year high of $6.64. The firm has a market capitalization of $869.98 million, a P/E ratio of -15.84 and a beta of 1.40.

Analysts Set New Price Targets

RSKD has been the subject of several research analyst reports. DA Davidson increased their target price on Riskified from $5.00 to $7.00 and gave the stock a “neutral” rating in a research report on Thursday, May 16th. Piper Sandler reduced their price objective on shares of Riskified from $8.00 to $7.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. Keefe, Bruyette & Woods raised their target price on shares of Riskified from $5.75 to $6.00 and gave the company a “market perform” rating in a research note on Thursday, May 16th. Barclays decreased their price target on shares of Riskified from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Friday, August 16th. Finally, The Goldman Sachs Group cut their price target on Riskified from $6.00 to $4.50 and set a “sell” rating for the company in a report on Thursday, August 15th. One equities research 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.com, the company presently has an average rating of “Hold” and an average price target of $6.03.

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.