Gradient Investments LLC Makes New Investment in Skillz Inc. (NYSE:SKLZ)

Gradient Investments LLC purchased a new position in Skillz Inc. (NYSE:SKLZGet Rating) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,000 shares of the company’s stock, valued at approximately $27,000.

Other hedge funds have also modified their holdings of the company. Wildcat Capital Management LLC boosted its position in shares of Skillz by 1.7% during the fourth quarter. Wildcat Capital Management LLC now owns 21,632,157 shares of the company’s stock worth $160,943,000 after acquiring an additional 366,338 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of Skillz during the first quarter worth $48,225,000. Vanguard Group Inc. boosted its position in shares of Skillz by 3.9% during the first quarter. Vanguard Group Inc. now owns 15,475,131 shares of the company’s stock worth $46,425,000 after acquiring an additional 574,314 shares during the last quarter. BlackRock Inc. boosted its position in shares of Skillz by 0.6% during the first quarter. BlackRock Inc. now owns 11,533,035 shares of the company’s stock worth $34,599,000 after acquiring an additional 74,218 shares during the last quarter. Finally, State Street Corp boosted its position in shares of Skillz by 58.1% during the first quarter. State Street Corp now owns 6,981,329 shares of the company’s stock worth $20,944,000 after acquiring an additional 2,564,912 shares during the last quarter. 37.38% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on SKLZ shares. Canaccord Genuity Group lowered shares of Skillz from a “buy” rating to a “hold” rating in a research report on Thursday, August 4th. Citigroup decreased their price target on shares of Skillz from $1.55 to $1.50 in a research note on Wednesday, August 31st. Finally, Canaccord Genuity Group downgraded shares of Skillz from a “buy” rating to a “hold” rating in a research note on Thursday, August 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $6.71.

Skillz Trading Down 7.3 %

Shares of SKLZ opened at $1.15 on Friday. Skillz Inc. has a twelve month low of $1.11 and a twelve month high of $13.13. The company has a market cap of $482.05 million, a P/E ratio of -1.89 and a beta of 2.36. The company has a current ratio of 8.61, a quick ratio of 8.61 and a debt-to-equity ratio of 0.56. The company’s fifty day simple moving average is $1.48 and its 200-day simple moving average is $1.90.

Skillz (NYSE:SKLZGet Rating) last announced its earnings results on Wednesday, August 3rd. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.01. Skillz had a negative net margin of 68.02% and a negative return on equity of 45.06%. The business had revenue of $73.34 million for the quarter, compared to the consensus estimate of $93.33 million. As a group, analysts expect that Skillz Inc. will post -0.78 EPS for the current year.

Skillz Profile

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Skillz Inc operates a mobile games platform that connects players in fair, fun, and meaningful competition. The company primarily develops and supports a proprietary online-hosted technology platform that enables independent game developers to host tournaments and provide competitive gaming activity to end-users worldwide.

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Institutional Ownership by Quarter for Skillz (NYSE:SKLZ)

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