PDT Partners LLC Purchases Shares of 42,600 Unity Software Inc. $U

Key Points

• PDT Partners LLC acquired 42,600 shares of Unity Software Inc., valued at approximately $835,000, marking a new investment in the company.
• Unity Software reported a quarterly EPS of ($0.26), slightly missing the consensus estimate, while revenue exceeded expectations at $440.94 million.
• Several institutional investors, including Ameriprise Financial and Northern Trust Corp, significantly increased their stakes in Unity Software during the 4th quarter, now collectively owning over 73% of the company's stock.

PDT Partners LLC acquired a new stake in Unity Software Inc. (NYSE:U - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 42,600 shares of the company's stock, valued at approximately $835,000.

Other hedge funds have also modified their holdings of the company. Vident Advisory LLC acquired a new position in shares of Unity Software during the 1st quarter worth approximately $200,000. Canada Pension Plan Investment Board raised its holdings in shares of Unity Software by 45,600.0% in the first quarter. Canada Pension Plan Investment Board now owns 91,400 shares of the company's stock worth $1,791,000 after acquiring an additional 91,200 shares during the last quarter. Ieq Capital LLC purchased a new stake in shares of Unity Software in the first quarter valued at $1,665,000. Nishkama Capital LLC purchased a new stake in Unity Software during the 1st quarter worth about $4,165,000. Finally, Comerica Bank raised its stake in Unity Software by 59.8% in the 1st quarter. Comerica Bank now owns 114,429 shares of the company's stock valued at $2,242,000 after purchasing an additional 42,831 shares during the last quarter. 73.46% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Unity Software

In other news, CEO Matthew S. Bromberg sold 120,000 shares of the company's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $40.03, for a total value of $4,803,600.00. Following the transaction, the chief executive officer directly owned 1,222,812 shares of the company's stock, valued at approximately $48,949,164.36. This represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Anirma Gupta sold 10,819 shares of the company's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $39.32, for a total transaction of $425,403.08. Following the completion of the transaction, the senior vice president directly owned 630,749 shares in the company, valued at $24,801,050.68. This trade represents a 1.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 641,036 shares of company stock worth $22,710,923. Insiders own 3.61% of the company's stock.

Unity Software Trading Up 9.1%

NYSE:U traded up $3.65 during trading hours on Friday, hitting $43.83. 20,028,371 shares of the stock traded hands, compared to its average volume of 10,964,210. The firm has a 50 day moving average price of $34.19 and a 200 day moving average price of $26.36. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.73 and a quick ratio of 2.73. Unity Software Inc. has a fifty-two week low of $15.33 and a fifty-two week high of $44.22.

Unity Software (NYSE:U - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.01). Unity Software had a negative net margin of 24.38% and a negative return on equity of 13.59%. The firm had revenue of $440.94 million for the quarter, compared to analyst estimates of $425.18 million. During the same period last year, the firm earned ($0.32) earnings per share. Unity Software's revenue for the quarter was down 1.9% compared to the same quarter last year. As a group, equities analysts expect that Unity Software Inc. will post -1.25 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Zacks Research cut shares of Unity Software from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Wall Street Zen raised shares of Unity Software from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Citigroup raised their price target on shares of Unity Software from $29.00 to $44.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. BTIG Research cut shares of Unity Software from a "neutral" rating to a "sell" rating and set a $25.00 price target on the stock. in a research note on Wednesday, July 23rd. Finally, Wedbush upped their target price on Unity Software from $39.00 to $41.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $31.20.

Unity Software Company Profile

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.