Riskified (NYSE:RSKD) Trading Down 6.3% After Insider Selling

Riskified Ltd. (NYSE:RSKD) shares dropped 6.3% on Friday after an insider sold shares in the company. The stock traded as low as $6.46 and last traded at $6.4950. Approximately 327,592 shares traded hands during trading, a decline of 67% from the average daily volume of 981,808 shares. The stock had previously closed at $6.93.

Specifically, Director Erez Shachar sold 100,000 shares of Riskified stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $6.47, for a total transaction of $647,000.00. Following the completion of the sale, the director directly owned 3,456,054 shares of the company’s stock, valued at approximately $22,360,669.38. The trade was a 2.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Assaf Feldman sold 43,904 shares of the stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $6.51, for a total value of $285,815.04. Following the completion of the transaction, the insider directly owned 1,167,371 shares in the company, valued at approximately $7,599,585.21. This represents a 3.62% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In other Riskified news, Director Erez Shachar sold 100,000 shares of the firm’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $6.29, for a total transaction of $629,000.00. Following the sale, the director owned 1,199,683 shares in the company, valued at $7,546,006.07. This trade represents a 7.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on RSKD shares. DA Davidson reiterated a “buy” rating and set a $7.50 price objective on shares of Riskified in a research report on Monday, August 24th. Wall Street Zen raised Riskified from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 30th. The Goldman Sachs Group increased their price target on shares of Riskified from $4.75 to $5.50 and gave the company a “sell” rating in a research report on Wednesday, August 12th. UBS Group lifted their price target on shares of Riskified from $5.00 to $6.75 and gave the stock a “neutral” rating in a research note on Thursday, August 13th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Riskified in a research note on Friday, August 14th. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Riskified presently has a consensus rating of “Hold” and a consensus price target of $6.50.

Riskified Trading Down 6.3%

The firm has a market cap of $962.23 million, a P/E ratio of -59.05 and a beta of 1.38. The business’s fifty day simple moving average is $5.54 and its 200-day simple moving average is $4.88.

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

Institutional Trading of Riskified

A number of hedge funds have recently made changes to their positions in the stock. Raymond James Financial Inc. purchased a new stake in shares of Riskified during the second quarter valued at approximately $36,000. Man Group plc bought a new position in Riskified in the 4th quarter valued at approximately $50,000. Virtu Financial LLC purchased a new stake in Riskified during the 3rd quarter valued at $51,000. Invesco Ltd. purchased a new stake in Riskified during the 1st quarter valued at $51,000. Finally, T3 Companies LLC bought a new stake in shares of Riskified in the 4th quarter worth $54,000. 58.98% of the stock is owned by institutional investors.

Riskified Company Profile

Riskified is a technology company specializing in e-commerce fraud prevention and revenue optimization for online merchants. Its platform combines machine learning, behavioral analytics and proprietary risk models to assess the legitimacy of transactions in real time. By offering a chargeback guarantee, Riskified assumes the financial liability for approved orders that later turn out to be fraudulent, allowing retailers to focus on growth rather than dispute management.

The company’s core product suite addresses various aspects of the online shopping lifecycle, including order approval, account takeover protection and policy compliance.