Pallas Capital Advisors LLC Invests $319,000 in Unity Software Inc. (NYSE:U)

Pallas Capital Advisors LLC acquired a new position in shares of Unity Software Inc. (NYSE:U - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 16,282 shares of the company's stock, valued at approximately $319,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Anderson Financial Strategies LLC bought a new stake in shares of Unity Software during the 4th quarter worth approximately $28,000. Principal Securities Inc. raised its position in Unity Software by 50.5% during the fourth quarter. Principal Securities Inc. now owns 1,422 shares of the company's stock valued at $32,000 after purchasing an additional 477 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Unity Software during the fourth quarter valued at approximately $36,000. Itau Unibanco Holding S.A. lifted its stake in Unity Software by 150.4% during the fourth quarter. Itau Unibanco Holding S.A. now owns 1,778 shares of the company's stock worth $40,000 after purchasing an additional 1,068 shares during the last quarter. Finally, Whipplewood Advisors LLC bought a new stake in Unity Software during the fourth quarter worth $40,000. 73.46% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Mark Barrysmith sold 1,445 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $20.61, for a total value of $29,781.45. Following the completion of the sale, the chief accounting officer now directly owns 483,417 shares of the company's stock, valued at approximately $9,963,224.37. This represents a 0.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Tomer Bar-Zeev sold 166,667 shares of Unity Software stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $21.59, for a total transaction of $3,598,340.53. Following the transaction, the director now directly owns 2,814,812 shares in the company, valued at $60,771,791.08. This represents a 5.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,296,538 shares of company stock valued at $30,546,097 in the last ninety days. 3.61% of the stock is owned by company insiders.

Unity Software Trading Down 5.2%

Unity Software stock traded down $1.29 during mid-day trading on Friday, hitting $23.69. 11,151,538 shares of the stock were exchanged, compared to its average volume of 11,430,224. The stock has a market capitalization of $9.85 billion, a price-to-earnings ratio of -14.10 and a beta of 2.34. Unity Software Inc. has a 12 month low of $13.90 and a 12 month high of $30.88. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.70. The firm's fifty day simple moving average is $21.71 and its two-hundred day simple moving average is $22.45.

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, topping the consensus estimate of ($0.38) by $0.19. The company had revenue of $435.00 million during the quarter, compared to analysts' expectations of $415.77 million. Unity Software had a negative net margin of 36.63% and a negative return on equity of 13.40%. Unity Software's revenue for the quarter was down 5.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.28 earnings per share. Analysts forecast that Unity Software Inc. will post -1.25 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on U. Benchmark raised Unity Software from a "sell" rating to a "hold" rating in a report on Thursday, February 20th. Wells Fargo & Company decreased their target price on Unity Software from $22.00 to $19.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. Citizens Jmp raised shares of Unity Software from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 11th. Macquarie started coverage on shares of Unity Software in a research note on Monday, March 10th. They issued a "neutral" rating and a $24.00 price target on the stock. Finally, Wall Street Zen upgraded shares of Unity Software from a "hold" rating to a "buy" rating in a research report on Monday. One analyst has rated the stock with a sell rating, nine have given a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $25.14.

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.