Pictet Asset Management SA lessened its stake in shares of Skillsoft Corp. (NASDAQ:SKIL – Get Rating) by 42.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,202,704 shares of the company’s stock after selling 899,698 shares during the quarter. Pictet Asset Management SA’s holdings in Skillsoft were worth $4,234,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in SKIL. Benefit Street Partners LLC bought a new position in Skillsoft during the second quarter valued at approximately $3,264,000. Founder Collective GP LLC bought a new position in shares of Skillsoft during the 2nd quarter valued at $139,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Skillsoft in the 2nd quarter worth $122,000. Jane Street Group LLC grew its holdings in shares of Skillsoft by 222.4% in the first quarter. Jane Street Group LLC now owns 36,750 shares of the company’s stock worth $222,000 after acquiring an additional 25,350 shares during the period. Finally, Prelude Capital Management LLC grew its holdings in shares of Skillsoft by 59.0% in the first quarter. Prelude Capital Management LLC now owns 36,183 shares of the company’s stock worth $219,000 after acquiring an additional 13,433 shares during the period. 76.02% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several research analysts have issued reports on SKIL shares. Barclays dropped their target price on Skillsoft from $8.00 to $7.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 16th. DA Davidson cut their target price on shares of Skillsoft from $7.00 to $3.00 in a research report on Thursday, September 8th. Piper Sandler decreased their price target on shares of Skillsoft from $4.00 to $2.50 and set a “neutral” rating on the stock in a research report on Friday, September 9th. Citigroup dropped their price target on shares of Skillsoft from $13.50 to $4.50 in a research note on Wednesday, October 12th. Finally, Oppenheimer restated an “assumes” rating on shares of Skillsoft in a research note on Wednesday, July 27th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Skillsoft has an average rating of “Moderate Buy” and a consensus target price of $6.00.
Skillsoft Stock Performance
Skillsoft (NASDAQ:SKIL – Get Rating) last issued its earnings results on Wednesday, September 7th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.24. The company had revenue of $148.38 million during the quarter, compared to the consensus estimate of $186.70 million. Skillsoft had a negative net margin of 27.77% and a negative return on equity of 3.80%. Equities analysts forecast that Skillsoft Corp. will post -1.53 earnings per share for the current fiscal year.
Skillsoft Company Profile
Skillsoft Corp. provides corporate digital learning services in the United States and internationally. The company operates through Content, Global Knowledge, and SumTotal segments. It offers enterprise learning solutions to prepare organizations for the future of work, as well as enable them to overcome critical skill gaps, drive demonstrable behavior-change, and unlock the potential in their greatest assets.
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