Riskified (NYSE:RSKD) Hits New 1-Year High – Here’s What Happened

Riskified Ltd. (NYSE:RSKD)’s stock price hit a new 52-week high during mid-day trading on Monday. The company traded as high as $9.18 and last traded at $9.1010, with a volume of 5,745 shares traded. The stock had previously closed at $9.15.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. The Goldman Sachs Group upped their price target on shares of Riskified from $5.50 to $7.50 and gave the stock a “sell” rating in a research note on Tuesday, October 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Riskified in a report on Friday, August 14th. DA Davidson restated a “buy” rating and issued a $7.50 target price on shares of Riskified in a research note on Monday, August 24th. UBS Group boosted their target price on Riskified from $5.00 to $6.75 and gave the stock a “neutral” rating in a research report on Thursday, August 13th. Finally, Zacks Research cut shares of Riskified from a “hold” rating to a “strong sell” rating in a research report on Monday, October 12th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Riskified has an average rating of “Reduce” and an average target price of $7.17.

Riskified Stock Performance

The company has a 50-day simple moving average of $7.14 and a two-hundred day simple moving average of $5.70. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of -82.81 and a beta of 1.25.

Riskified (NYSE:RSKD) last released its quarterly earnings data on Thursday, August 13th. The company reported $0.02 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.02. Riskified had a negative return on equity of 3.93% and a negative net margin of 4.23%. The company had revenue of $98.69 million during the quarter, compared to analysts’ expectations of $89.18 million. As a group, sell-side analysts predict that Riskified Ltd. will post -0.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Riskified news, insider Ravi Kumaraswami sold 65,000 shares of the business’s stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $8.36, for a total value of $543,400.00. Following the completion of the sale, the insider owned 1,423,665 shares of the company’s stock, valued at $11,901,839.40. The trade was a 4.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Eido Gal sold 150,000 shares of the stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $6.48, for a total transaction of $972,000.00. Following the transaction, the chief executive officer owned 5,302,917 shares in the company, valued at approximately $34,362,902.16. The trade was a 2.75% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 2,890,119 shares of company stock valued at $17,972,343 in the last 90 days. 17.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Riskified

Institutional investors and hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC lifted its stake in Riskified by 1.7% in the 1st quarter. Renaissance Technologies LLC now owns 1,358,900 shares of the company’s stock valued at $5,327,000 after purchasing an additional 22,100 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in Riskified in the 2nd quarter valued at approximately $1,505,000. Sei Investments Co. raised its position in Riskified by 87.4% during the 1st quarter. Sei Investments Co. now owns 356,173 shares of the company’s stock worth $1,396,000 after purchasing an additional 166,099 shares during the last quarter. Tidal Investments LLC raised its position in shares of Riskified by 142.3% during the second quarter. Tidal Investments LLC now owns 214,731 shares of the company’s stock worth $1,082,000 after acquiring an additional 126,121 shares during the last quarter. Finally, State of Wyoming raised its stake in Riskified by 16.4% during the first quarter. State of Wyoming now owns 107,785 shares of the company’s stock worth $423,000 after buying an additional 15,195 shares during the last quarter. Institutional investors own 58.98% of the company’s stock.

About Riskified

Riskified Ltd. (NYSE: RSKD) is a technology company that provides fraud and risk-management solutions for e-commerce businesses. Its platform uses data analysis, machine learning and automated decision-making to help merchants distinguish legitimate customers from potentially fraudulent transactions while supporting online sales and customer conversion.

The company’s products are designed to address several stages of the digital commerce lifecycle, including payment approval, account protection, chargeback management and checkout optimization.