Bronte Capital Management Pty Ltd. Sells 19,468 Shares of Riskified Ltd. (NYSE:RSKD)

Bronte Capital Management Pty Ltd. decreased its position in shares of Riskified Ltd. (NYSE:RSKD) by 3.9% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 483,194 shares of the company’s stock after selling 19,468 shares during the period. Riskified makes up about 0.3% of Bronte Capital Management Pty Ltd.’s investment portfolio, making the stock its 24th largest position. Bronte Capital Management Pty Ltd. owned 0.27% of Riskified worth $3,088,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. nVerses Capital LLC purchased a new stake in Riskified in the 2nd quarter worth about $29,000. Covestor Ltd boosted its holdings in Riskified by 2,522.7% during the 1st quarter. Covestor Ltd now owns 7,842 shares of the company’s stock valued at $43,000 after acquiring an additional 7,543 shares during the period. Aigen Investment Management LP bought a new position in Riskified in the 4th quarter valued at $84,000. Valmark Advisers Inc. purchased a new stake in Riskified in the second quarter worth $104,000. Finally, Lord Abbett & CO. LLC bought a new stake in shares of Riskified during the first quarter worth $204,000. Hedge funds and other institutional investors own 58.98% of the company’s stock.

Riskified Price Performance

RSKD opened at $4.79 on Tuesday. Riskified Ltd. has a 1 year low of $3.48 and a 1 year high of $6.64. The firm has a market capitalization of $853.91 million, a PE ratio of -15.45 and a beta of 1.37. The business’s 50-day moving average is $5.69 and its two-hundred day moving average is $5.57.

Riskified (NYSE:RSKD) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.02. Riskified had a negative net margin of 14.57% and a negative return on equity of 8.33%. The firm had revenue of $78.73 million during the quarter, compared to analyst estimates of $78.33 million. As a group, sell-side analysts expect that Riskified Ltd. will post -0.17 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on RSKD. Barclays reduced their price target on shares of Riskified from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Friday, August 16th. The Goldman Sachs Group reduced their target price on shares of Riskified from $6.00 to $4.50 and set a “sell” rating on the stock in a research report on Thursday, August 15th. JPMorgan Chase & Co. boosted their price target on Riskified from $6.00 to $7.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Piper Sandler decreased their target price on Riskified from $8.00 to $7.00 and set an “overweight” rating for the company in a research report on Thursday, August 15th. Finally, DA Davidson lifted their price objective on Riskified from $5.00 to $7.00 and gave the company a “neutral” rating in a report on Thursday, May 16th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $6.03.

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.