Allspring Global Investments Holdings LLC Cuts Stake in Riskified Ltd. (NYSE:RSKD)

Allspring Global Investments Holdings LLC decreased its holdings in Riskified Ltd. (NYSE:RSKD) by 5.6% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 938,747 shares of the company’s stock after selling 55,275 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.58% of Riskified worth $4,337,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in RSKD. BNP Paribas Financial Markets purchased a new stake in Riskified during the 4th quarter valued at $456,000. Jane Street Group LLC boosted its position in Riskified by 552.0% during the 4th quarter. Jane Street Group LLC now owns 80,684 shares of the company’s stock valued at $382,000 after buying an additional 68,309 shares during the period. Two Sigma Investments LP boosted its position in Riskified by 61.5% during the 4th quarter. Two Sigma Investments LP now owns 25,490 shares of the company’s stock valued at $121,000 after buying an additional 9,711 shares during the period. Millennium Management LLC boosted its position in Riskified by 171.0% during the 4th quarter. Millennium Management LLC now owns 766,977 shares of the company’s stock valued at $3,628,000 after buying an additional 483,975 shares during the period. Finally, Two Sigma Advisers LP purchased a new stake in Riskified during the 4th quarter valued at $140,000. Hedge funds and other institutional investors own 58.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RSKD. Piper Sandler reaffirmed an “overweight” rating and issued a $7.00 target price on shares of Riskified in a research report on Monday, March 17th. UBS Group raised their target price on shares of Riskified from $5.50 to $5.75 and gave the stock a “neutral” rating in a research report on Thursday, May 15th. JPMorgan Chase & Co. dropped their target price on shares of Riskified from $7.00 to $6.00 and set a “neutral” rating for the company in a research report on Monday, March 10th. Truist Financial raised their target price on shares of Riskified from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. Finally, DA Davidson raised their target price on shares of Riskified from $6.00 to $6.50 and gave the stock a “buy” rating in a research report on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Riskified has a consensus rating of “Hold” and a consensus price target of $6.03.

Riskified Stock Up 4.7%

Riskified stock opened at $5.32 on Monday. The company has a market capitalization of $857.64 million, a P/E ratio of -24.18 and a beta of 1.36. The stock’s 50 day moving average is $4.94 and its 200 day moving average is $4.90. Riskified Ltd. has a twelve month low of $3.94 and a twelve month high of $6.62.

Riskified (NYSE:RSKD) last released its quarterly earnings data on Wednesday, May 14th. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. The business had revenue of $82.39 million during the quarter, compared to analyst estimates of $79.23 million. Riskified had a negative net margin of 11.15% and a negative return on equity of 7.42%. Riskified’s revenue was up 7.9% compared to the same quarter last year. During the same period last year, the business earned $0.04 EPS. As a group, equities analysts expect that Riskified Ltd. will post -0.15 EPS for the current year.

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.