GAMMA Investing LLC Buys 53,647 Shares of Unity Software Inc. (NYSE:U)

GAMMA Investing LLC grew its holdings in shares of Unity Software Inc. (NYSE:U - Free Report) by 3,279.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 55,283 shares of the company's stock after acquiring an additional 53,647 shares during the quarter. GAMMA Investing LLC's holdings in Unity Software were worth $1,083,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new position in Unity Software during the 4th quarter worth approximately $269,320,000. Slate Path Capital LP purchased a new stake in shares of Unity Software during the fourth quarter valued at approximately $62,387,000. Capital International Investors grew its holdings in shares of Unity Software by 10.4% in the fourth quarter. Capital International Investors now owns 18,886,853 shares of the company's stock worth $424,388,000 after purchasing an additional 1,786,032 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Unity Software by 3,843.9% in the fourth quarter. Ameriprise Financial Inc. now owns 1,769,948 shares of the company's stock worth $39,771,000 after purchasing an additional 1,725,070 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Unity Software by 366.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,936,131 shares of the company's stock worth $43,505,000 after buying an additional 1,521,165 shares during the period. 73.46% of the stock is currently owned by institutional investors.

Unity Software Stock Up 1.4%

Shares of NYSE U traded up $0.34 on Thursday, reaching $23.89. 7,032,608 shares of the company's stock traded hands, compared to its average volume of 11,444,430. The business's 50 day simple moving average is $22.15 and its two-hundred day simple moving average is $22.46. Unity Software Inc. has a 12 month low of $13.90 and a 12 month high of $30.88. The company has a market cap of $9.93 billion, a price-to-earnings ratio of -21.33 and a beta of 2.34. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 0.70.

Unity Software (NYSE:U - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.19) earnings per share for the quarter, beating analysts' consensus estimates of ($0.38) by $0.19. The company had revenue of $435.00 million during the quarter, compared to analyst estimates of $415.77 million. Unity Software had a negative return on equity of 14.12% and a negative net margin of 25.21%. The firm's revenue for the quarter was down 5.5% on a year-over-year basis. During the same quarter last year, the company earned $0.28 EPS. As a group, equities research analysts forecast that Unity Software Inc. will post -1.25 EPS for the current fiscal year.

Wall Street Analyst Weigh In

U has been the topic of a number of recent analyst reports. Citizens Jmp raised shares of Unity Software from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 11th. Wells Fargo & Company dropped their target price on shares of Unity Software from $22.00 to $19.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Wall Street Zen upgraded Unity Software from a "hold" rating to a "buy" rating in a report on Monday, June 9th. Barclays lowered their price target on Unity Software from $26.00 to $25.00 and set an "equal weight" rating for the company in a research report on Thursday, May 8th. Finally, HSBC upgraded Unity Software from a "hold" rating to a "buy" rating and set a $34.00 price objective on the stock in a research report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Unity Software currently has an average rating of "Moderate Buy" and a consensus price target of $25.14.

Insider Buying and Selling

In related news, Director Tomer Bar-Zeev sold 166,667 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $20.04, for a total value of $3,340,006.68. Following the transaction, the director now directly owns 2,981,479 shares of the company's stock, valued at approximately $59,748,839.16. This represents a 5.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director David Helgason sold 261,473 shares of Unity Software stock in a transaction on Friday, June 6th. The stock was sold at an average price of $25.70, for a total value of $6,719,856.10. Following the completion of the sale, the director now directly owns 7,489,173 shares of the company's stock, valued at approximately $192,471,746.10. The trade was a 3.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,294,611 shares of company stock worth $30,506,382 in the last quarter. Corporate insiders own 3.61% of the company's stock.

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.