A company insider recently sold 44,872 shares of Skillz Inc. [SKLZ]. Should You Sale?


The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Skillz Inc. shares valued at $450,066 were sold by Roswig Jason on Aug 09. At $10.03 per share, Roswig Jason sold 44,872 shares. The insider’s holdings dropped to 85,279 shares worth approximately $0.68 million following the completion of this transaction.

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Also, Paradise Andrew purchased 75,000 shares, netting a total of over 762,750 in proceeds. Following the buying of shares at $10.17 each, the insider now holds 597,832 shares.

Before that, Chessen Kevin had added 50,000 shares to its account. In a trade valued at $24,900, the Director bought Skillz Inc. shares for $0.50 each. Upon closing the transaction, the insider’s holdings increased to 50,000 shares, worth approximately $0.4 million.

As published in a research note from BTIG Research on October 12, 2022, Skillz Inc. [SKLZ] has been rated down from a Neutral to a Sell and the price target has been revised to $0.65. This represents a -1120.0% premium over Thursday’s closing price.

Analyzing SKLZ Stock Performance

On Thursday, Skillz Inc. [NYSE: SKLZ] plunged -12.38% to $7.93. The stock’s lowest price that day was $7.79, but it reached a high of $9.02 in the same session. During the last five days, there has been a drop of approximately -0.25%. Over the course of the year, Skillz Inc. shares have dropped approximately -21.72%. Shares of the company reached a 52-week high of $20.40 on 02/02/23 and a 52-week low of $7.32 on 08/18/23. A 50-day SMA is recorded $10.50, while a 200-day SMA reached $12.93. Nevertheless, trading volume fell to 0.61 million shares from 0.51 million shares the previous day.

Support And Resistance Levels for Skillz Inc. (SKLZ)

According to the 24-hour chart, there is a support level at 7.47, which, if violated, would cause prices to drop to 7.02. In the upper region, resistance lies at 8.70. The next price resistance is at 9.48. RSI (Relative Strength Index) is 37.82 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.19, which suggests the price will decrease in the coming days. Percent R is at 81.74%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Skillz Inc. subject to short interest?

Stocks of Skillz Inc. saw a sharp steep in short interest on Jul 30, 2023 dropping by -0.23 million shares to 1.2 million. Data from Yahoo Finance shows that the short interest on Jun 29, 2023 was 1.43 million shares. A decline of -19.17% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3 of the overall float, the days-to-cover ratio (short ratio) decline to 3.

Which companies own the most shares of Skillz Inc. (SKLZ)?

According to Wildcat Capital Management LLC filings, the company currently owns 979,848 shares, which is about 5.53% of the total SKLZ shares outstanding. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $6,684,576. SSgA Funds Management, Inc. reduced a -21.41% interest valued at $4.73 million while Renaissance Technologies LLC purchased a 40,940 stake. A total of -694,576 shares of Skillz Inc. were bought by BlackRock Fund Advisors during the quarter, and 192,136 were bought by Millennium Management LLC. In its current portfolio, Coastal Bridge Advisors LLC holds 247,008 shares valued at $2.95 million.

In terms of Skillz Inc. share price expectations, FactSet research, analysts set an average price target of $12.33 in the next 12 months, up nearly 27.07% from the previous closing price of $9.05. Analysts anticipate Skillz Inc. stock to reach $20.00 by 2023, with the lowest price target being $8.00. In spite of this, 6 analysts ranked Skillz Inc. stock as a Hold at the end of 2023.


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