Coatue Management LLC acquired a new position in shares of Skillz Inc. (NYSE:SKLZ) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,624,674 shares of the company’s stock, valued at approximately $35,288,000. Coatue Management LLC owned about 0.41% of Skillz as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently bought and sold shares of SKLZ. Clearstead Advisors LLC increased its stake in shares of Skillz by 3,100.0% in the second quarter. Clearstead Advisors LLC now owns 1,600 shares of the company’s stock worth $35,000 after purchasing an additional 1,550 shares in the last quarter. Arkadios Wealth Advisors purchased a new position in shares of Skillz in the second quarter worth about $43,000. Credit Agricole S A purchased a new position in shares of Skillz in the second quarter worth about $43,000. CKW Financial Group purchased a new position in shares of Skillz in the first quarter worth about $46,000. Finally, Baldwin Brothers Inc. MA increased its stake in shares of Skillz by 150.0% in the second quarter. Baldwin Brothers Inc. MA now owns 3,000 shares of the company’s stock worth $65,000 after purchasing an additional 1,800 shares in the last quarter. Institutional investors and hedge funds own 49.17% of the company’s stock.
Several equities analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Skillz from a “sell” rating to a “hold” rating in a research note on Thursday, October 7th. Wedbush reduced their target price on shares of Skillz from $34.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday, August 4th. Canaccord Genuity cut their price objective on shares of Skillz from $30.00 to $23.00 and set a “buy” rating for the company in a research report on Wednesday, August 4th. Finally, Royal Bank of Canada began coverage on shares of Skillz in a research report on Wednesday, July 28th. They issued a “sector perform” rating and a $17.00 price objective for the company. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $22.86.
Skillz stock traded up $0.19 during mid-day trading on Thursday, hitting $9.11. 348,471 shares of the company traded hands, compared to its average volume of 15,649,214. Skillz Inc. has a one year low of $7.97 and a one year high of $46.30. The stock has a market cap of $3.67 billion, a price-to-earnings ratio of -21.76 and a beta of 0.08. The stock has a fifty day moving average price of $10.79 and a 200-day moving average price of $15.06.
Skillz (NYSE:SKLZ) last announced its earnings results on Tuesday, August 3rd. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.03). The business had revenue of $89.49 million for the quarter, compared to analyst estimates of $88.07 million. As a group, sell-side analysts forecast that Skillz Inc. will post -0.51 EPS for the current fiscal year.
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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