Riskified (NYSE:RSKD) Sees Large Volume Increase – Still a Buy?

Shares of Riskified Ltd. (NYSE:RSKD) saw unusually-high trading volume on Thursday . Approximately 1,716,194 shares traded hands during mid-day trading, an increase of 65% from the previous session’s volume of 1,042,559 shares.The stock last traded at $7.5880 and had previously closed at $7.14.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on RSKD shares. Wall Street Zen upgraded Riskified from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 30th. UBS Group boosted their target price on shares of Riskified from $5.00 to $6.75 and gave the company a “neutral” rating in a research note on Thursday, August 13th. The Goldman Sachs Group raised their price target on shares of Riskified from $4.75 to $5.50 and gave the stock a “sell” rating in a research note on Wednesday, August 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Riskified in a report on Friday, August 14th. Finally, Keefe, Bruyette & Woods upped their price objective on Riskified from $5.50 to $6.25 and gave the company a “market perform” rating in a research note on Thursday, August 13th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Riskified has an average rating of “Hold” and a consensus target price of $6.50.

Riskified Price Performance

The firm has a market capitalization of $1.13 billion, a PE ratio of -70.10 and a beta of 1.38. The company’s fifty day simple moving average is $5.88 and its 200 day simple moving average is $5.06.

Riskified (NYSE:RSKD) last posted its quarterly earnings results on Thursday, August 13th. The company reported $0.02 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.02. The company had revenue of $98.69 million for the quarter, compared to analyst estimates of $89.18 million. Riskified had a negative net margin of 4.23% and a negative return on equity of 3.93%. On average, analysts anticipate that Riskified Ltd. will post -0.03 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Erez Shachar sold 47,651 shares of the business’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $6.18, for a total transaction of $294,483.18. Following the sale, the director directly owned 3,311,623 shares in the company, valued at approximately $20,465,830.14. The trade was a 1.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Eido Gal sold 150,000 shares of the stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $6.48, for a total value of $972,000.00. Following the sale, the chief executive officer directly owned 5,302,917 shares in the company, valued at $34,362,902.16. This trade represents 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. Over the last quarter, insiders have sold 5,346,001 shares of company stock valued at $30,243,545. 17.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Riskified

Large investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio bought a new position in Riskified in the 2nd quarter valued at $1,505,000. Sei Investments Co. increased its holdings in shares of Riskified by 87.4% in the first 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 period. Globeflex Capital L P bought a new position in shares of Riskified in the fourth quarter worth $736,000. Tidal Investments LLC raised its position in shares of Riskified by 142.3% in the second quarter. Tidal Investments LLC now owns 214,731 shares of the company’s stock worth $1,082,000 after buying an additional 126,121 shares in the last quarter. Finally, State of Wyoming increased its stake in Riskified by 88.9% in the 4th quarter. State of Wyoming now owns 92,590 shares of the company’s stock worth $460,000 after acquiring an additional 43,568 shares during the last quarter. 58.98% of the stock is currently owned by institutional investors.

About Riskified

Riskified Ltd. is a technology company that provides fraud and risk-management solutions for e-commerce businesses. Its platform uses data analytics, machine learning and network insights to help merchants distinguish legitimate customers from fraudulent transactions, reduce payment-related losses and improve the online shopping experience.

The company’s product offerings include solutions designed to protect merchants from chargebacks, identify and prevent policy abuse, secure customer accounts and support payment approval decisions.