Riskified Ltd. (NYSE:RSKD) Shares Sold by Rubric Capital Management LP

Rubric Capital Management LP decreased its position in Riskified Ltd. (NYSE:RSKD) by 19.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,379,662 shares of the company’s stock after selling 793,974 shares during the period. Rubric Capital Management LP owned about 1.90% of Riskified worth $15,986,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. nVerses Capital LLC acquired a new stake in Riskified in the 2nd quarter valued at $29,000. Valmark Advisers Inc. purchased a new stake in shares of Riskified during the second quarter worth about $104,000. Quantbot Technologies LP acquired a new position in shares of Riskified during the 3rd quarter worth about $120,000. Olympiad Research LP purchased a new position in Riskified in the 3rd quarter valued at about $150,000. Finally, Squarepoint Ops LLC acquired a new stake in Riskified in the 2nd quarter worth about $163,000. Institutional investors and hedge funds own 58.98% of the company’s stock.

Riskified Stock Performance

Shares of Riskified stock opened at $4.69 on Wednesday. The stock has a 50 day moving average of $4.56 and a 200 day moving average of $5.36. Riskified Ltd. has a fifty-two week low of $3.97 and a fifty-two week high of $6.64.

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

Riskified declared that its board has authorized a share buyback program on Wednesday, November 13th that authorizes the company to buyback $75.00 million in shares. This buyback authorization authorizes the company to buy 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.

Analysts Set New Price Targets

RSKD has been the topic of a number of research analyst reports. DA Davidson raised Riskified to a “hold” rating in a research note on Thursday, November 14th. Piper Sandler reissued an “overweight” rating and issued a $7.00 price target on shares of Riskified in a research note on Thursday, November 14th. Truist Financial dropped their price objective on shares of Riskified from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. The Goldman Sachs Group decreased their target price on shares of Riskified from $6.00 to $4.50 and set a “sell” rating on the stock in a research note on Thursday, August 15th. Finally, UBS Group dropped their price target on Riskified from $4.75 to $4.50 and set a “neutral” rating for the company in a research report 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 issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $5.91.

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.