Unity Software Inc. $U Holdings Lifted by Atreides Management LP

Key Points

• Atreides Management LP significantly increased its stake in Unity Software Inc. by 146.7%, acquiring an additional 5,607,572 shares, making it the fund's 4th largest position.
• Recent insider transactions included COO Alexander Blum and CEO Matthew S. Bromberg selling 63,813 and 120,000 shares, respectively, resulting in notable decreases in their ownership.
• Unity Software's stock has experienced fluctuations with a twelve-month low of $15.33 and a high of $41.41, currently trading around $39.39.

Atreides Management LP raised its holdings in shares of Unity Software Inc. (NYSE:U - Free Report) by 146.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,430,955 shares of the company's stock after purchasing an additional 5,607,572 shares during the quarter. Unity Software accounts for 5.6% of Atreides Management LP's portfolio, making the stock its 4th largest position. Atreides Management LP owned 2.27% of Unity Software worth $184,752,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of U. Cornerstone Planning Group LLC grew its stake in Unity Software by 30,300.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 1,216 shares of the company's stock valued at $25,000 after purchasing an additional 1,212 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Unity Software during the 4th quarter valued at approximately $36,000. GAMMA Investing LLC grew its stake in Unity Software by 72.5% during the 1st quarter. GAMMA Investing LLC now owns 2,822 shares of the company's stock valued at $55,000 after purchasing an additional 1,186 shares in the last quarter. Signaturefd LLC lifted its holdings in Unity Software by 26.3% during the 1st quarter. Signaturefd LLC now owns 3,658 shares of the company's stock worth $72,000 after buying an additional 762 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in Unity Software by 171.2% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 4,301 shares of the company's stock worth $84,000 after buying an additional 2,715 shares during the last quarter. Institutional investors and hedge funds own 73.46% of the company's stock.

Insiders Place Their Bets

In related news, CEO Matthew S. Bromberg sold 120,000 shares of Unity Software stock in a transaction on Tuesday, August 26th. The stock was 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 in the company, valued at $48,949,164.36. The trade was a 8.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Shlomo Dovrat sold 50,000 shares of Unity Software stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $30.01, for a total value of $1,500,500.00. Following the completion of the transaction, the director owned 189,089 shares in the company, valued at $5,674,560.89. The trade was a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 641,036 shares of company stock worth $22,710,923. Corporate insiders own 3.61% of the company's stock.

Unity Software Price Performance

Shares of U traded up $3.65 during midday trading on Friday, reaching $43.83. The stock had a trading volume of 20,028,371 shares, compared to its average volume of 10,964,210. Unity Software Inc. has a 52 week low of $15.33 and a 52 week high of $44.22. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.73 and a quick ratio of 2.73. The firm's 50 day moving average price is $34.19 and its 200-day moving average price is $26.36. The company has a market capitalization of $18.52 billion, a P/E ratio of -41.35 and a beta of 2.33.

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

Wall Street Analysts Forecast Growth

U has been the topic of a number of research analyst reports. Wells Fargo & Company increased their target price on Unity Software from $24.00 to $29.00 and gave the stock an "equal weight" rating in a report on Thursday, August 7th. Jefferies Financial Group increased their target price on Unity Software from $29.00 to $35.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Barclays increased their target price on Unity Software from $25.00 to $30.00 and gave the stock an "equal weight" rating in a report on Thursday, August 7th. Needham & Company LLC increased their target price on Unity Software from $30.00 to $40.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Finally, Bank of America initiated coverage on Unity Software in a report on Thursday, June 26th. They set an "underperform" rating and a $15.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company 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.