Skillz (NYSE:SKLZ) Stock Price Up 3.3%


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Skillz Inc. (NYSE:SKLZ) shot up 3.3% during mid-day trading on Tuesday . The stock traded as high as $17.64 and last traded at $17.06. 197,876 shares changed hands during mid-day trading, a decline of 99% from the average session volume of 15,581,084 shares. The stock had previously closed at $16.52.

SKLZ has been the subject of a number of recent research reports. Jefferies Financial Group initiated coverage on shares of Skillz in a research note on Wednesday, April 28th. They set a “hold” rating and a $17.00 price target for the company. Canaccord Genuity increased their price target on Skillz from $32.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, March 11th. UBS Group started coverage on Skillz in a research report on Wednesday, March 3rd. They issued a “neutral” rating and a $34.00 price target on the stock. Wells Fargo & Company assumed coverage on Skillz in a report on Friday, January 15th. They issued an “equal weight” rating and a $28.00 price objective for the company. Finally, Smith Barney Citigroup assumed coverage on Skillz in a report on Monday, January 11th. They set a “buy” rating and a $27.00 target price on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $27.71.

The firm has a fifty day moving average price of $19.52.

Skillz (NYSE:SKLZ) last announced its quarterly earnings results on Wednesday, March 10th. The company reported ($0.13) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.10) by ($0.03). The business had revenue of $67.72 million for the quarter, compared to analysts’ expectations of $62.82 million. Sell-side analysts predict that Skillz Inc. will post -0.33 earnings per share for the current fiscal year.

In other Skillz news, Director Kent Wakeford sold 42,465 shares of the business’s stock in a transaction that occurred on Tuesday, March 23rd. The stock was sold at an average price of $23.34, for a total value of $991,133.10. Following the sale, the director now owns 1,640,190 shares in the company, valued at approximately $38,282,034.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Charlotte Edelman sold 30,340 shares of the company’s stock in a transaction that occurred on Tuesday, March 23rd. The stock was sold at an average price of $23.34, for a total value of $708,135.60. Following the transaction, the vice president now directly owns 130,413 shares of the company’s stock, valued at approximately $3,043,839.42. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,424,095 shares of company stock valued at $243,298,377.

A number of hedge funds have recently modified their holdings of SKLZ. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Skillz during the 4th quarter worth about $30,000. US Bancorp DE acquired a new position in Skillz during the fourth quarter valued at approximately $40,000. Evolution Wealth Advisors LLC bought a new position in Skillz in the first quarter valued at approximately $42,000. Retirement Group LLC increased its position in shares of Skillz by 4,564.4% during the 1st quarter. Retirement Group LLC now owns 2,752 shares of the company’s stock worth $52,000 after purchasing an additional 2,693 shares during the last quarter. Finally, Signaturefd LLC bought a new stake in shares of Skillz during the 1st quarter worth approximately $56,000. Hedge funds and other institutional investors own 45.77% of the company’s stock.

About Skillz (NYSE:SKLZ)

Skillz Inc operates a mobile games platform that connects players worldwide. Its platform hosts casual esports tournaments. The company was founded in 2012 and is headquartered in San Francisco, California.

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