Allspring Global Investments Holdings LLC Decreases Position in Riskified Ltd. (NYSE:RSKD)

Allspring Global Investments Holdings LLC reduced its stake in Riskified Ltd. (NYSE:RSKD - Free Report) by 44.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 904,424 shares of the company's stock after selling 725,511 shares during the period. Allspring Global Investments Holdings LLC's holdings in Riskified were worth $4,233,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of RSKD. Quarry LP bought a new stake in shares of Riskified in the first quarter valued at about $25,000. Bank of America Corp DE lifted its position in shares of Riskified by 173.9% in the 1st quarter. Bank of America Corp DE now owns 5,081 shares of the company's stock worth $29,000 after purchasing an additional 3,226 shares during the period. Lazard Asset Management LLC purchased a new stake in shares of Riskified in the 2nd quarter worth approximately $47,000. Wolverine Trading LLC boosted its stake in shares of Riskified by 192.9% during the second quarter. Wolverine Trading LLC now owns 10,130 shares of the company's stock valued at $49,000 after purchasing an additional 21,030 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in Riskified during the first quarter valued at approximately $59,000. 58.98% of the stock is owned by hedge funds and other institutional investors.

Riskified Stock Performance

RSKD stock traded down $0.05 during midday trading on Friday, reaching $4.87. The stock had a trading volume of 627,975 shares, compared to its average volume of 518,119. The firm has a fifty day simple moving average of $5.01 and a two-hundred day simple moving average of $4.51. Riskified Ltd. has a 52-week low of $3.48 and a 52-week high of $5.64. The stock has a market cap of $868.17 million, a PE ratio of -14.32 and a beta of 1.34.

Riskified (NYSE:RSKD - Get Free Report) last released its earnings results on Tuesday, March 5th. The company reported ($0.01) EPS for the quarter, topping analysts' consensus estimates of ($0.05) by $0.04. The firm had revenue of $84.07 million during the quarter, compared to the consensus estimate of $83.87 million. Riskified had a negative return on equity of 11.04% and a negative net margin of 19.84%. On average, sell-side analysts predict that Riskified Ltd. will post -0.18 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on RSKD. Keefe, Bruyette & Woods initiated coverage on Riskified in a research report on Tuesday, April 9th. They set a "market perform" rating and a $5.75 target price on the stock. DA Davidson reiterated a "neutral" rating and issued a $5.00 target price on shares of Riskified in a research note on Wednesday, March 6th. Piper Sandler reissued an "overweight" rating and set a $7.00 price target on shares of Riskified in a research report on Friday, April 12th. Finally, The Goldman Sachs Group boosted their price objective on shares of Riskified from $4.50 to $5.00 and gave the stock a "neutral" rating in a research note on Wednesday, March 6th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $5.66.

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.