Soviero Asset Management LP Makes New $2.25 Million Investment in Unity Software Inc. (NYSE:U)

Soviero Asset Management LP purchased a new position in Unity Software Inc. (NYSE:U - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 100,000 shares of the company's stock, valued at approximately $2,247,000.

Other large investors have also made changes to their positions in the company. Anderson Financial Strategies LLC bought a new stake in Unity Software during the 4th quarter valued at approximately $28,000. R Squared Ltd acquired a new position in Unity Software in the 4th quarter valued at approximately $30,000. Principal Securities Inc. raised its holdings in Unity Software by 50.5% in the 4th quarter. Principal Securities Inc. now owns 1,422 shares of the company's stock valued at $32,000 after acquiring an additional 477 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Unity Software in the 4th quarter valued at approximately $36,000. Finally, Whipplewood Advisors LLC acquired a new position in Unity Software in the 4th quarter valued at approximately $40,000. Institutional investors and hedge funds own 73.46% of the company's stock.

Unity Software Price Performance

Shares of NYSE U opened at $22.77 on Monday. The stock has a market capitalization of $9.46 billion, a price-to-earnings ratio of -13.55 and a beta of 2.29. The business has a 50-day moving average of $20.52 and a 200-day moving average of $22.06. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.41 and a quick ratio of 2.41. Unity Software Inc. has a fifty-two week low of $13.90 and a fifty-two week high of $30.88.

Unity Software (NYSE:U - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.19) earnings per share for the quarter, beating 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 return on equity of 13.40% and a negative net margin of 36.63%. Unity Software's revenue for the quarter was down 5.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.28 EPS. As a group, sell-side analysts predict that Unity Software Inc. will post -1.25 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Jefferies Financial Group cut their price target on Unity Software from $24.00 to $16.00 and set a "hold" rating for the company in a report on Monday, April 7th. HSBC raised Unity Software from a "hold" rating to a "buy" rating and set a $34.00 price target for the company in a report on Friday, February 21st. Citigroup raised Unity Software from a "neutral" rating to a "buy" rating and set a $30.00 price target for the company in a report on Tuesday, March 11th. Morgan Stanley cut their price target on Unity Software from $32.00 to $25.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Finally, Macquarie started coverage on Unity Software in a report on Monday, March 10th. They issued a "neutral" rating and a $24.00 price target for the company. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Unity Software presently has an average rating of "Hold" and an average target price of $24.21.

Insider Buying and Selling

In related news, Director David Helgason sold 38,924 shares of Unity Software stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $26.92, for a total transaction of $1,047,834.08. Following the completion of the transaction, the director now owns 7,828,494 shares in the company, valued at approximately $210,743,058.48. This trade represents a 0.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Mark Barrysmith sold 1,414 shares of Unity Software stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $21.42, for a total value of $30,287.88. Following the transaction, the chief accounting officer now owns 480,408 shares of the company's stock, valued at $10,290,339.36. The trade was a 0.29% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 783,645 shares of company stock worth $18,063,816. Company insiders own 6.30% of the company's stock.

About Unity Software

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.

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