State of New Jersey Common Pension Fund D Raises Stock Position in Riskified Ltd. (NYSE:RSKD)

State of New Jersey Common Pension Fund D lifted its holdings in shares of Riskified Ltd. (NYSE:RSKD) by 107.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,686 shares of the company’s stock after purchasing an additional 35,096 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Riskified were worth $320,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of RSKD. Algert Global LLC raised its stake in shares of Riskified by 7.1% in the 2nd quarter. Algert Global LLC now owns 43,324 shares of the company’s stock valued at $277,000 after acquiring an additional 2,854 shares during the period. nVerses Capital LLC acquired a new position in Riskified during the 2nd quarter valued at about $29,000. Quadrature Capital Ltd boosted its stake in Riskified by 16.7% during the 1st 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 during the period. Covestor Ltd boosted its stake in 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 purchasing an additional 7,543 shares during the period. Finally, Acadian Asset Management LLC boosted 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 valued at $4,743,000 after purchasing an additional 7,644 shares during the period. 58.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on RSKD. Truist Financial dropped their target price on shares of Riskified from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Piper Sandler restated an “overweight” rating and set a $7.00 price target on shares of Riskified in a research note on Thursday, November 14th. The Goldman Sachs Group dropped their price target 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. UBS Group lowered their target price on shares of Riskified from $4.75 to $4.50 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Riskified from $5.50 to $5.25 and set a “market perform” rating on the stock in a research note on Thursday, November 14th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $5.91.

Riskified Stock Performance

Shares of RSKD opened at $4.41 on Wednesday. Riskified Ltd. has a twelve month low of $3.91 and a twelve month high of $6.64. The firm’s 50 day moving average price is $4.56 and its two-hundred day moving average price is $5.38. The firm has a market cap of $786.19 million, a P/E ratio of -22.05 and a beta of 1.36.

Riskified (NYSE:RSKD) last posted its quarterly earnings results on Wednesday, November 13th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.01. Riskified had a negative net margin of 10.72% and a negative return on equity of 6.00%. The firm had revenue of $78.80 million for the quarter, compared to analyst estimates of $75.01 million. During the same period in the prior year, the firm posted ($0.12) earnings per share. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Riskified Ltd. will post -0.16 earnings per share for the current fiscal 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.