Jennison Associates LLC Reduces Stock Position in Riskified Ltd. (NYSE:RSKD)

Jennison Associates LLC cut its stake in Riskified Ltd. (NYSE:RSKD) by 3.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,674,773 shares of the company’s stock after selling 67,338 shares during the period. Jennison Associates LLC’s holdings in Riskified were worth $7,838,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Johnson Investment Counsel Inc. purchased a new stake in shares of Riskified in the third quarter valued at approximately $76,000. Keybank National Association OH purchased a new position in Riskified in the third quarter worth approximately $102,000. New York State Common Retirement Fund purchased a new position in Riskified in the third quarter worth approximately $109,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Riskified by 41.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,082 shares of the company’s stock worth $122,000 after acquiring an additional 7,609 shares during the period. Finally, Cornerstone Investment Partners LLC purchased a new position in Riskified in the fourth quarter worth approximately $182,000. 58.98% of the stock is currently owned by hedge funds and other institutional investors.

Riskified Stock Performance

Riskified stock opened at $5.18 on Friday. Riskified Ltd. has a 1-year low of $3.48 and a 1-year high of $5.64. The stock’s fifty day moving average is $5.05 and its two-hundred day moving average is $4.53.

Riskified (NYSE:RSKD) last posted its quarterly earnings results on Tuesday, March 5th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.04. Riskified had a negative return on equity of 11.04% and a negative net margin of 19.84%. The company had revenue of $84.07 million for the quarter, compared to analysts’ expectations of $83.87 million. As a group, equities analysts forecast that Riskified Ltd. will post -0.18 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on RSKD shares. DA Davidson reiterated a “neutral” rating and issued a $5.00 price objective on shares of Riskified in a research report on Wednesday, March 6th. The Goldman Sachs Group raised their price target on Riskified from $4.50 to $5.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 6th. Piper Sandler restated an “overweight” rating and set a $7.00 price target on shares of Riskified in a research report on Friday, April 12th. Finally, Keefe, Bruyette & Woods started coverage on Riskified in a research report on Tuesday, April 9th. They set a “market perform” rating and a $5.75 price target for the company. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Riskified currently 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.