Skillz Inc. $SKLZ Shares Acquired by Trexquant Investment LP

Trexquant Investment LP increased its stake in Skillz Inc. (NYSE:SKLZ) by 56.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,330 shares of the company’s stock after acquiring an additional 25,405 shares during the period. Trexquant Investment LP owned approximately 0.40% of Skillz worth $316,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in SKLZ. Jane Street Group LLC bought a new position in shares of Skillz in the fourth quarter valued at approximately $132,000. Dimensional Fund Advisors LP boosted its holdings in shares of Skillz by 136.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 28,823 shares of the company’s stock valued at $145,000 after acquiring an additional 16,622 shares in the last quarter. Two Sigma Advisers LP boosted its holdings in shares of Skillz by 144.1% in the fourth quarter. Two Sigma Advisers LP now owns 27,610 shares of the company’s stock valued at $139,000 after acquiring an additional 16,300 shares in the last quarter. BNP Paribas Financial Markets bought a new position in shares of Skillz in the fourth quarter valued at approximately $78,000. Finally, Occudo Quantitative Strategies LP bought a new position in shares of Skillz in the fourth quarter valued at approximately $57,000. 19.42% of the stock is currently owned by institutional investors.

Skillz Stock Performance

Shares of NYSE:SKLZ opened at $7.47 on Wednesday. The company has a market cap of $130.11 million, a PE ratio of -1.78 and a beta of 2.88. Skillz Inc. has a 52 week low of $3.54 and a 52 week high of $9.11. The firm has a 50 day simple moving average of $7.80 and a 200 day simple moving average of $6.25.

Skillz (NYSE:SKLZ) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($1.12) EPS for the quarter, beating the consensus estimate of ($1.34) by $0.22. The business had revenue of $27.37 million during the quarter, compared to the consensus estimate of $22.80 million. Skillz had a negative net margin of 75.38% and a negative return on equity of 39.99%. On average, equities analysts predict that Skillz Inc. will post -4.35 earnings per share for the current year.

Wall Street Analyst Weigh In

SKLZ has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of Skillz from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. Wedbush reissued an “outperform” rating and set a $15.00 target price on shares of Skillz in a research note on Monday, August 4th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Skillz currently has an average rating of “Buy” and an average target price of $15.00.

Skillz Profile

Skillz Inc operates a mobile game platform in the United States and internationally. 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. The company distributes games through direct app download from its website, as well as through third-party platforms.