Gradient Investments LLC Takes $27,000 Position in Skillz Inc. (NYSE:SKLZ)

Gradient Investments LLC bought a new stake in shares of Skillz Inc. (NYSE:SKLZGet Rating) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 9,000 shares of the company’s stock, valued at approximately $27,000.

A number of other large investors have also recently modified their holdings of the stock. Advisory Services Network LLC boosted its stake in shares of Skillz by 364.1% during the 1st quarter. Advisory Services Network LLC now owns 243,442 shares of the company’s stock valued at $730,000 after purchasing an additional 190,991 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in Skillz during the first quarter worth about $205,000. Quantbot Technologies LP boosted its stake in Skillz by 1,627.0% during the first quarter. Quantbot Technologies LP now owns 151,145 shares of the company’s stock worth $453,000 after acquiring an additional 142,393 shares in the last quarter. Royal Bank of Canada boosted its stake in Skillz by 18.1% during the first quarter. Royal Bank of Canada now owns 58,100 shares of the company’s stock worth $175,000 after acquiring an additional 8,906 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its stake in Skillz by 97.1% during the first quarter. Geneos Wealth Management Inc. now owns 28,525 shares of the company’s stock worth $85,000 after acquiring an additional 14,050 shares in the last quarter. Institutional investors own 37.38% of the company’s stock.

Analysts Set New Price Targets

SKLZ has been the topic of several research reports. Canaccord Genuity Group lowered shares of Skillz from a “buy” rating to a “hold” rating in a research note on Thursday, August 4th. Canaccord Genuity Group lowered shares of Skillz from a “buy” rating to a “hold” rating in a research note on Thursday, August 4th. Finally, Citigroup decreased their target price on shares of Skillz from $1.55 to $1.50 in a report on Wednesday, August 31st. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Skillz currently has an average rating of “Hold” and an average price target of $6.71.

Skillz Stock Down 7.3 %

SKLZ opened at $1.15 on Friday. The company has a quick ratio of 8.61, a current ratio of 8.61 and a debt-to-equity ratio of 0.56. The firm has a 50 day moving average price of $1.48 and a 200-day moving average price of $1.90. Skillz Inc. has a twelve month low of $1.11 and a twelve month high of $13.13. The stock has a market capitalization of $482.05 million, a price-to-earnings ratio of -1.89 and a beta of 2.36.

Skillz (NYSE:SKLZGet Rating) last released its quarterly earnings data 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 firm had revenue of $73.34 million during the quarter, compared to analysts’ expectations of $93.33 million. Equities research analysts forecast that Skillz Inc. will post -0.78 earnings per share 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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