Allspring Global Investments Holdings LLC Sells 725,511 Shares of Riskified Ltd. (NYSE:RSKD)

Allspring Global Investments Holdings LLC cut its position in Riskified Ltd. (NYSE:RSKD) by 44.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 904,424 shares of the company’s stock after selling 725,511 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Riskified were worth $4,233,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Quarry LP purchased a new stake in Riskified in the 1st quarter worth about $25,000. Bank of America Corp DE raised its position in shares of Riskified by 173.9% in the first quarter. Bank of America Corp DE now owns 5,081 shares of the company’s stock valued at $29,000 after purchasing an additional 3,226 shares during the period. Lazard Asset Management LLC purchased a new stake in shares of Riskified during the 2nd quarter valued at approximately $47,000. Wolverine Trading LLC boosted its holdings in Riskified by 192.9% in the 2nd quarter. Wolverine Trading LLC now owns 10,130 shares of the company’s stock worth $49,000 after buying an additional 21,030 shares during the period. Finally, XTX Topco Ltd purchased a new position in Riskified in the 1st quarter valued at approximately $59,000. 58.98% of the stock is currently owned by institutional investors.

Riskified Stock Performance

RSKD stock opened at $4.87 on Friday. The company’s 50 day moving average is $5.01 and its 200 day moving average is $4.50. Riskified Ltd. has a 1-year low of $3.48 and a 1-year high of $5.64.

Riskified (NYSE:RSKD) last issued its quarterly earnings results on Tuesday, March 5th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.04. Riskified had a negative net margin of 19.84% and a negative return on equity of 11.04%. The firm had revenue of $84.07 million for the quarter, compared to analyst estimates of $83.87 million. Research analysts forecast that Riskified Ltd. will post -0.18 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on RSKD shares. Keefe, Bruyette & Woods began coverage on Riskified in a research report on Tuesday, April 9th. They set a “market perform” rating and a $5.75 target price on the stock. The Goldman Sachs Group raised their target price on Riskified from $4.50 to $5.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 6th. DA Davidson reiterated a “neutral” rating and set a $5.00 price target on shares of Riskified in a research report on Wednesday, March 6th. Finally, Piper Sandler restated an “overweight” rating and issued a $7.00 price objective on shares of Riskified in a research report on Friday, April 12th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $5.66.

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.