Jane Street Group LLC Trims Stake in Riskified Ltd. (NYSE:RSKD)

Jane Street Group LLC reduced its position in Riskified Ltd. (NYSE:RSKD) by 73.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,375 shares of the company’s stock after selling 34,611 shares during the quarter. Jane Street Group LLC’s holdings in Riskified were worth $59,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new stake in Riskified in the 3rd quarter worth about $120,000. Olympiad Research LP purchased a new stake in Riskified in the 3rd quarter worth about $150,000. Squarepoint Ops LLC purchased a new stake in Riskified in the 2nd quarter worth about $163,000. State of New Jersey Common Pension Fund D purchased a new stake in Riskified in the 2nd quarter worth about $208,000. Finally, Sei Investments Co. increased its position in shares of Riskified by 110.8% during the second quarter. Sei Investments Co. now owns 34,991 shares of the company’s stock worth $224,000 after acquiring an additional 18,392 shares during the period. 58.98% of the stock is owned by hedge funds and other institutional investors.

Riskified Trading Up 4.6 %

NYSE RSKD opened at $5.04 on Thursday. The company has a fifty day simple moving average of $4.74 and a two-hundred day simple moving average of $5.04. The stock has a market cap of $898.51 million, a P/E ratio of -25.20 and a beta of 1.37. Riskified Ltd. has a 12-month low of $4.14 and a 12-month high of $6.64.

Riskified (NYSE:RSKD) last issued its 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 during the quarter, compared to analysts’ expectations of $75.01 million. During the same quarter last year, the company posted ($0.12) earnings per share. The firm’s revenue was up 9.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Riskified Ltd. will post -0.15 earnings per share for the current year.

Riskified announced that its Board of Directors has initiated a share buyback program on Wednesday, November 13th that permits the company to repurchase $75.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on RSKD shares. Piper Sandler reduced their target price 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. DA Davidson raised shares of Riskified to a “hold” rating in a research report on Thursday, November 14th. The Goldman Sachs Group reduced their target price on shares of Riskified from $4.50 to $4.00 and set a “sell” rating on the stock in a research report on Monday, December 2nd. UBS Group reduced their target price on shares of Riskified from $4.75 to $4.50 and set a “neutral” rating on the stock in a research report on Thursday, November 14th. Finally, Keefe, Bruyette & Woods dropped their price objective 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 investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $5.72.

Riskified 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.