JPMorgan Chase & Co. Purchases 15,250 Shares of Riskified Ltd. (NYSE:RSKD)

JPMorgan Chase & Co. increased its position in Riskified Ltd. (NYSE:RSKD) by 1.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 875,723 shares of the company’s stock after buying an additional 15,250 shares during the period. JPMorgan Chase & Co. owned about 0.49% of Riskified worth $4,142,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Clal Insurance Enterprises Holdings Ltd lifted its position in shares of Riskified by 76.0% in the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 6,734,508 shares of the company’s stock valued at $31,854,000 after acquiring an additional 2,907,585 shares in the last quarter. Jennison Associates LLC raised its stake in Riskified by 11.2% during the 3rd quarter. Jennison Associates LLC now owns 5,682,144 shares of the company’s stock valued at $26,877,000 after purchasing an additional 573,596 shares during the period. Harvey Partners LLC lifted its holdings in Riskified by 9.7% in the 3rd quarter. Harvey Partners LLC now owns 3,227,500 shares of the company’s stock worth $15,266,000 after purchasing an additional 286,500 shares in the last quarter. Clearline Capital LP lifted its holdings in Riskified by 10.3% in the 3rd quarter. Clearline Capital LP now owns 1,853,922 shares of the company’s stock worth $8,769,000 after purchasing an additional 173,694 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Riskified by 17.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,118,900 shares of the company’s stock worth $7,150,000 after purchasing an additional 164,600 shares during the period. Institutional investors own 58.98% of the company’s stock.

Riskified Stock Up 1.2 %

Riskified stock opened at $5.02 on Friday. The company’s 50-day moving average price is $4.76 and its 200-day moving average price is $5.03. The company has a market cap of $895.09 million, a PE ratio of -25.10 and a beta of 1.37. Riskified Ltd. has a twelve month low of $4.14 and a twelve month high of $6.64.

Riskified (NYSE:RSKD) last issued its quarterly earnings data on Wednesday, November 13th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.01. The company had revenue of $78.80 million for the quarter, compared to analysts’ expectations of $75.01 million. Riskified had a negative return on equity of 6.00% and a negative net margin of 10.72%. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.12) earnings per share. As a group, sell-side analysts expect that Riskified Ltd. will post -0.15 earnings per share for the current fiscal year.

Riskified announced that its Board of Directors has initiated a share repurchase program on Wednesday, November 13th that authorizes the company to repurchase $75.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

RSKD has been the topic of several recent analyst reports. Piper Sandler reduced their price objective on shares of Riskified from $7.00 to $6.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. UBS Group reduced their price target on shares of Riskified from $4.75 to $4.50 and set a “neutral” rating on the stock in a report on Thursday, November 14th. DA Davidson raised shares of Riskified to a “hold” rating in a report on Thursday, November 14th. Keefe, Bruyette & Woods cut their price objective on Riskified from $5.50 to $5.25 and set a “market perform” rating for the company in a research report on Thursday, November 14th. Finally, The Goldman Sachs Group decreased their target price on Riskified from $4.50 to $4.00 and set a “sell” rating on the stock in a research report on Monday, December 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.72.

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.