Allspring Global Investments Holdings LLC Sells 92,665 Shares of Riskified Ltd. (NYSE:RSKD)

Allspring Global Investments Holdings LLC reduced its holdings in Riskified Ltd. (NYSE:RSKD) by 10.2% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 811,759 shares of the company’s stock after selling 92,665 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Riskified were worth $4,392,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Aigen Investment Management LP purchased a new position in shares of Riskified in the 4th quarter worth approximately $84,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Riskified by 41.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,082 shares of the company’s stock worth $122,000 after buying an additional 7,609 shares during the period. Y.D. More Investments Ltd increased its position in Riskified by 29.1% during the fourth quarter. Y.D. More Investments Ltd now owns 35,248 shares of the company’s stock valued at $152,000 after acquiring an additional 7,938 shares during the last quarter. Cornerstone Investment Partners LLC purchased a new stake in shares of Riskified in the fourth quarter valued at $182,000. Finally, Worth Venture Partners LLC bought a new position in Riskified during the 3rd quarter valued at about $289,000. 58.98% of the stock is currently owned by hedge funds and other institutional investors.

Riskified Trading Down 0.3 %

Shares of NYSE:RSKD traded down $0.02 during trading hours on Tuesday, hitting $6.39. The company’s stock had a trading volume of 81,729 shares, compared to its average volume of 659,370. The firm’s fifty day moving average price is $5.85 and its 200 day moving average price is $5.17. Riskified Ltd. has a 52 week low of $3.48 and a 52 week high of $6.55.

Riskified (NYSE:RSKD) last posted its earnings results on Wednesday, May 15th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. Riskified had a negative return on equity of 9.55% and a negative net margin of 17.28%. The company had revenue of $76.41 million during the quarter, compared to analyst estimates of $75.40 million. Equities analysts anticipate that Riskified Ltd. will post -0.17 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on RSKD shares. Barclays boosted their target price on Riskified from $5.00 to $6.00 and gave the company an “equal weight” rating in a research report on Monday, May 20th. Keefe, Bruyette & Woods upped their price objective on Riskified from $5.75 to $6.00 and gave the company a “market perform” rating in a research report on Thursday, May 16th. Piper Sandler lifted their target price on Riskified from $7.00 to $8.00 and gave the stock an “overweight” rating in a research report on Thursday, May 16th. The Goldman Sachs Group upped their price target on shares of Riskified from $4.50 to $5.00 and gave the stock a “neutral” rating in a report on Wednesday, March 6th. Finally, UBS Group lifted their price objective on shares of Riskified from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Tuesday, May 21st. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $6.63.

About Riskified

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.