Cinctive Capital Management LP Buys Shares of 126,977 Unity Software Inc. $U

Key Points

• Cinctive Capital Management LP invested approximately $2.49 million in Unity Software Inc., acquiring 126,977 shares in the process.
• Insider trading at Unity Software saw Director Shlomo Dovrat and CEO Matthew S. Bromberg selling significant portions of their shares, which included a sale of 50,000 shares for Dovrat and 120,000 shares for Bromberg.
• Recent analyst ratings show a mix of sentiments, with Jefferies raising its price target to $35.00 while others, like BTIG Research, downgraded the stock to a "sell" rating with a target of $25.00.

Cinctive Capital Management LP purchased a new position in Unity Software Inc. (NYSE:U - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 126,977 shares of the company's stock, valued at approximately $2,487,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in U. Atreides Management LP increased its holdings in Unity Software by 146.7% in the 1st quarter. Atreides Management LP now owns 9,430,955 shares of the company's stock worth $184,752,000 after acquiring an additional 5,607,572 shares in the last quarter. Broad Peak Investment Advisers Pte Ltd purchased a new stake in Unity Software in the 1st quarter worth $47,648,000. Fuller & Thaler Asset Management Inc. purchased a new stake in Unity Software in the 1st quarter worth $43,265,000. Vanguard Group Inc. grew its holdings in shares of Unity Software by 5.9% during the first quarter. Vanguard Group Inc. now owns 32,964,521 shares of the company's stock worth $645,775,000 after buying an additional 1,841,486 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Unity Software by 3,843.9% during the fourth quarter. Ameriprise Financial Inc. now owns 1,769,948 shares of the company's stock worth $39,771,000 after buying an additional 1,725,070 shares in the last quarter. Hedge funds and other institutional investors own 73.46% of the company's stock.

Analyst Upgrades and Downgrades

U has been the subject of a number of research reports. Jefferies Financial Group upped their target price on shares of Unity Software from $29.00 to $35.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. JMP Securities upped their target price on shares of Unity Software from $30.00 to $35.00 and gave the stock a "market outperform" rating in a report on Thursday, August 7th. Wedbush upped their target price on shares of Unity Software from $39.00 to $41.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. BTIG Research lowered shares of Unity Software from a "neutral" rating to a "sell" rating and set a $25.00 target price for the company. in a report on Wednesday, July 23rd. Finally, Barclays upped their target price on shares of Unity Software from $25.00 to $30.00 and gave the stock an "equal weight" rating in a report on Thursday, August 7th. Two research 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 issued a Sell rating to the stock. According to MarketBeat.com, Unity Software has an average rating of "Moderate Buy" and a consensus target price of $31.20.

Unity Software Trading Down 3.3%

Shares of U stock traded down $1.51 during trading hours on Wednesday, hitting $43.99. 3,167,242 shares of the company were exchanged, compared to its average volume of 12,347,460. The firm has a market cap of $18.59 billion, a PE ratio of -41.57 and a beta of 2.33. Unity Software Inc. has a 1 year low of $15.33 and a 1 year high of $46.00. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.70. The firm has a fifty day moving average of $35.04 and a 200 day moving average of $26.63.

Unity Software (NYSE:U - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $440.94 million for the quarter, compared to analysts' expectations of $425.18 million. During the same quarter in the previous year, the company earned ($0.32) earnings per share. The company's revenue was down 1.9% on a year-over-year basis. Analysts expect that Unity Software Inc. will post -1.25 earnings per share for the current year.

Insider Transactions at Unity Software

In other news, Director Tomer Bar-Zeev sold 150,000 shares of Unity Software stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $37.75, for a total transaction of $5,662,500.00. Following the sale, the director owned 1,948,146 shares in the company, valued at $73,542,511.50. This trade represents a 7.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Alexander Blum sold 63,813 shares of Unity Software stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $39.41, for a total transaction of $2,514,870.33. Following the sale, the chief operating officer owned 603,811 shares in the company, valued at $23,796,191.51. This represents a 9.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 631,485 shares of company stock valued at $22,467,277 in the last three months. 3.61% of the stock is owned by company insiders.

Unity Software 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.