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

Invenomic Capital Management LP trimmed its position in shares of Riskified Ltd. (NYSE:RSKD) by 14.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 772,520 shares of the company’s stock after selling 126,799 shares during the period. Invenomic Capital Management LP owned about 0.43% of Riskified worth $3,654,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Harvey Partners LLC raised its stake 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 worth $15,266,000 after acquiring an additional 286,500 shares in the last quarter. Clearline Capital LP grew its holdings in shares of Riskified by 10.3% during the 3rd quarter. Clearline Capital LP now owns 1,853,922 shares of the company’s stock valued at $8,769,000 after purchasing an additional 173,694 shares during the last quarter. Josh Arnold Investment Consultant LLC purchased a new position in Riskified in the 3rd quarter worth $378,000. PDT Partners LLC lifted its stake in Riskified by 37.2% in the third quarter. PDT Partners LLC now owns 97,317 shares of the company’s stock worth $460,000 after purchasing an additional 26,365 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in Riskified during the third quarter valued at about $120,000. Institutional investors own 58.98% of the company’s stock.

Riskified Trading Up 2.3 %

NYSE:RSKD opened at $4.88 on Wednesday. Riskified Ltd. has a 12 month low of $4.01 and a 12 month high of $6.64. The company has a 50-day moving average price of $4.56 and a 200-day moving average price of $5.33. The stock has a market cap of $869.96 million, a price-to-earnings ratio of -24.40 and a beta of 1.38.

Riskified (NYSE:RSKD) last posted its quarterly earnings data on Wednesday, November 13th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $75.01 million. During the same period in the previous year, the firm posted ($0.12) EPS. The business’s revenue was up 9.6% on a year-over-year basis. Equities analysts forecast that Riskified Ltd. will post -0.15 EPS for the current fiscal year.

Riskified declared that its board has initiated a share repurchase program on Wednesday, November 13th that permits the company to repurchase $75.00 million in shares. This repurchase authorization permits the company to reacquire up to 9% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

Several research analysts have recently commented on RSKD shares. UBS Group decreased their price objective on Riskified from $4.75 to $4.50 and set a “neutral” rating on the stock in a report on Thursday, November 14th. Truist Financial lowered their price objective on Riskified from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Piper Sandler restated an “overweight” rating and issued a $7.00 target price on shares of Riskified in a report on Thursday, November 14th. JPMorgan Chase & Co. upped their price target on shares of Riskified from $6.00 to $7.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Finally, Barclays dropped their price target on shares of Riskified from $6.00 to $5.00 and set an “equal weight” rating for the company in a research report on Friday, August 16th. 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 data from MarketBeat, the company has an average rating of “Hold” and an average price target of $5.84.

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.