Concentric Capital Strategies LP Takes $2.97 Million Position in Unity Software Inc. (NYSE:U)

Concentric Capital Strategies LP acquired a new stake in Unity Software Inc. (NYSE:U - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 132,242 shares of the company's stock, valued at approximately $2,971,000.

Several other institutional investors also recently bought and sold shares of U. Ariose Capital Management Ltd acquired a new stake in Unity Software in the fourth quarter valued at $2,299,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Unity Software by 3.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,958,400 shares of the company's stock valued at $44,005,000 after purchasing an additional 72,384 shares during the period. Jessup Wealth Management Inc purchased a new stake in Unity Software during the fourth quarter worth about $510,000. Vanguard Group Inc. grew its position in Unity Software by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 31,123,035 shares of the company's stock worth $699,335,000 after buying an additional 625,872 shares during the period. Finally, CIBC Asset Management Inc increased its holdings in Unity Software by 10.0% in the fourth quarter. CIBC Asset Management Inc now owns 376,794 shares of the company's stock valued at $8,467,000 after buying an additional 34,322 shares in the last quarter. 73.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on U. Stifel Nicolaus reduced their price target on shares of Unity Software from $35.00 to $28.00 and set a "buy" rating on the stock in a report on Thursday. Macquarie began coverage on Unity Software in a research report on Monday, March 10th. They set a "neutral" rating and a $24.00 price target for the company. Barclays reduced their price objective on Unity Software from $26.00 to $25.00 and set an "equal weight" rating on the stock in a research report on Thursday. Wedbush downgraded Unity Software from a "strong-buy" rating to a "strong sell" rating in a report on Wednesday. Finally, Jefferies Financial Group reduced their price target on Unity Software from $24.00 to $16.00 and set a "hold" rating on the stock in a research note on Monday, April 7th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Unity Software currently has a consensus rating of "Hold" and an average target price of $24.21.

Insiders Place Their Bets

In other news, CAO Mark Barrysmith sold 1,395 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $21.68, for a total value of $30,243.60. Following the transaction, the chief accounting officer now owns 450,881 shares in the company, valued at $9,775,100.08. This represents a 0.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Tomer Bar-Zeev sold 236,337 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $23.92, for a total transaction of $5,653,181.04. Following the sale, the director now owns 3,161,809 shares of the company's stock, valued at approximately $75,630,471.28. This represents a 6.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 782,231 shares of company stock worth $18,033,528. Company insiders own 6.30% of the company's stock.

Unity Software Stock Down 0.4 %

NYSE:U traded down $0.08 during mid-day trading on Friday, hitting $20.57. The company had a trading volume of 7,373,905 shares, compared to its average volume of 10,962,659. The business has a fifty day simple moving average of $20.64 and a 200-day simple moving average of $21.98. The firm has a market capitalization of $8.55 billion, a price-to-earnings ratio of -12.24 and a beta of 2.29. Unity Software Inc. has a 1 year low of $13.90 and a 1 year high of $30.88. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.70.

Unity Software (NYSE:U - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.19) EPS for the quarter, beating analysts' consensus estimates of ($0.38) by $0.19. The firm had revenue of $435.00 million during the quarter, compared to the consensus estimate of $415.77 million. Unity Software had a negative return on equity of 13.40% and a negative net margin of 36.63%. Unity Software's revenue for the quarter was down 5.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.28 earnings per share. Equities analysts forecast that Unity Software Inc. will post -1.25 earnings per share for the current fiscal year.

About Unity Software

Unity Software Inc operates a real-time 3D development platform. Its platform provides software solutions to create, run, and monetize interactive, real-time 2D and 3D content for mobile phones, tablets, PCs, consoles, and augmented and virtual reality devices. The company offers its solutions directly through its online store and field sales operations in North America, Denmark, Finland, the United Kingdom, Germany, Japan, China, Singapore, and South Korea, as well as indirectly through independent distributors and resellers worldwide.