Skillz (NYSE:SKLZ) Trading 3.3% Higher


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Skillz Inc. (NYSE:SKLZ) shares traded up 3.3% during mid-day trading on Tuesday . The company 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 topic of several analyst reports. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell initiated coverage on Skillz in a research report on Monday, January 11th. They set a “buy” rating and a $27.00 target price on the stock. Zacks Investment Research lowered shares of Skillz from a “hold” rating to a “sell” rating in a research report on Wednesday, March 17th. Wells Fargo & Company began coverage on shares of Skillz in a research report on Friday, January 15th. They issued an “equal weight” rating and a $28.00 price objective for the company. UBS Group began coverage on Skillz in a research note on Wednesday, March 3rd. They issued a “neutral” rating and a $34.00 target price on the stock. Finally, Canaccord Genuity increased their price target on Skillz from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, March 11th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. Skillz currently has an average rating of “Hold” and a consensus target price of $27.71.

The business has a 50 day moving average price of $19.52.

Skillz (NYSE:SKLZ) last issued its quarterly earnings data on Wednesday, March 10th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.10) by ($0.03). The company had revenue of $67.72 million during the quarter, compared to the consensus estimate of $62.82 million. On average, equities research analysts predict that Skillz Inc. will post -0.33 earnings per share for the current year.

In other news, CTO Miriam Aguirre sold 274,825 shares of the stock in a transaction that occurred on Tuesday, March 23rd. The stock was sold at an average price of $23.34, for a total transaction of $6,414,415.50. Following the completion of the sale, the chief technology officer now owns 634,682 shares of the company’s stock, valued at $14,813,477.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Andrew Paradise sold 8,402,866 shares of the company’s stock in a transaction on Tuesday, March 23rd. The shares were sold at an average price of $23.34, for a total transaction of $196,122,892.44. Following the sale, the chief executive officer now owns 68,601,268 shares of the company’s stock, valued at $1,601,153,595.12. The disclosure for this sale can be found here. Insiders have sold a total of 10,424,095 shares of company stock worth $243,298,377 over the last quarter.

Several hedge funds have recently modified their holdings of the company. Atlas Venture Associates IX LLC purchased a new position in Skillz during the 4th quarter valued at $465,688,000. T Ventures Management Co Ltd. bought a new position in Skillz in the fourth quarter worth $308,992,000. Washington Harbour Partners LP bought a new stake in shares of Skillz during the 4th quarter valued at $57,763,000. Lord Abbett & CO. LLC bought a new stake in Skillz during the fourth quarter worth about $33,207,000. Finally, Diameter Capital Partners LP purchased a new position in shares of Skillz during the fourth quarter valued at approximately $26,000,000. 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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