Clal Insurance Enterprises Holdings Ltd Decreases Stake in Riskified Ltd. (NYSE:RSKD)

Clal Insurance Enterprises Holdings Ltd lowered its position in Riskified Ltd. (NYSE:RSKD) by 36.5% during the fourth quarter, HoldingsChannel reports. The firm owned 4,278,883 shares of the company’s stock after selling 2,455,625 shares during the period. Clal Insurance Enterprises Holdings Ltd’s holdings in Riskified were worth $20,239,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RSKD. Olympiad Research LP purchased a new position in Riskified in the 3rd quarter valued at $150,000. State of New Jersey Common Pension Fund D lifted its holdings in Riskified by 107.7% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 67,686 shares of the company’s stock valued at $320,000 after purchasing an additional 35,096 shares in the last quarter. Jennison Associates LLC lifted its holdings in Riskified by 11.2% in 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 in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Riskified by 61.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 313,143 shares of the company’s stock valued at $1,481,000 after purchasing an additional 119,038 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in Riskified in the 3rd quarter valued at $120,000. Hedge funds and other institutional investors own 58.98% of the company’s stock.

Analyst Ratings Changes

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

Riskified Price Performance

Riskified stock opened at $5.15 on Friday. Riskified Ltd. has a 12 month low of $4.14 and a 12 month high of $6.64. The business has a 50 day simple moving average of $5.14 and a 200-day simple moving average of $4.85. The stock has a market capitalization of $917.22 million, a PE ratio of -25.72 and a beta of 1.38.

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

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.