Unity Software Inc. $U Shares Newly Purchased by Capelight Capital Asset Management LP

Key Points

• Capelight Capital Asset Management purchased 55,000 Unity Software shares worth approximately $2.25 million in the third quarter. Institutional investors collectively own 73.46% of the company.
• Unity reported quarterly revenue of $546.47 million, up 24% year over year, and adjusted earnings of $0.28 per share, exceeding analysts’ expectations. The company remains unprofitable on a net-income basis, with a negative net margin of 28.97%.
• Analysts maintain a broadly positive outlook, with a consensus “Moderate Buy” rating and a $48.01 price target. Meanwhile, insiders sold 109,547 shares worth about $4.88 million over the past three months.

Capelight Capital Asset Management LP purchased a new stake in shares of Unity Software Inc. (NYSE:U - Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 55,000 shares of the company's stock, valued at approximately $2,251,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Atreides Management LP bought a new stake in shares of Unity Software in the 2nd quarter worth approximately $292,826,000. Resolute Advisors LLC raised its holdings in shares of Unity Software by 473.3% during the second quarter. Resolute Advisors LLC now owns 4,766,219 shares of the company's stock valued at $136,219,000 after acquiring an additional 3,934,840 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Unity Software by 9,886.8% during the third quarter. Assenagon Asset Management S.A. now owns 2,645,007 shares of the company's stock valued at $108,260,000 after acquiring an additional 2,618,522 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Unity Software during the first quarter valued at approximately $54,534,000. Finally, Avala Global LP bought a new position in shares of Unity Software during the second quarter valued at approximately $62,522,000. Hedge funds and other institutional investors own 73.46% of the company's stock.

Unity Software Stock Up 0.2%

NYSE:U opened at $40.87 on Monday. The firm's 50-day moving average price is $43.18 and its 200-day moving average price is $34.15. The company has a market capitalization of $17.98 billion, a PE ratio of -30.05, a P/E/G ratio of 1.79 and a beta of 2.11. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.03 and a quick ratio of 2.03. Unity Software Inc. has a 1-year low of $16.78 and a 1-year high of $52.15.

Unity Software (NYSE:U - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.39. Unity Software had a negative net margin of 28.97% and a positive return on equity of 4.64%. The company had revenue of $546.47 million during the quarter, compared to analyst estimates of $514.72 million. During the same period last year, the business earned $0.18 EPS. Unity Software's quarterly revenue was up 24.0% compared to the same quarter last year. On average, equities analysts predict that Unity Software Inc. will post 0.55 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

U has been the topic of several recent analyst reports. Wedbush lifted their price target on shares of Unity Software from $50.00 to $55.00 and gave the company an "outperform" rating in a report on Wednesday, October 14th. Citizens Jmp boosted their price objective on shares of Unity Software from $37.00 to $45.00 and gave the company a "market outperform" rating in a research report on Friday, August 7th. BTIG Research upped their price objective on shares of Unity Software from $51.00 to $53.00 and gave the stock a "buy" rating in a report on Friday, October 9th. Deutsche Bank Aktiengesellschaft raised shares of Unity Software from a "hold" rating to a "buy" rating and raised their target price for the stock from $31.00 to $50.00 in a research report on Friday, August 7th. Finally, Wells Fargo & Company lifted their target price on shares of Unity Software from $48.00 to $53.00 and gave the company an "overweight" rating in a research note on Monday, October 12th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $48.01.

Insider Buying and Selling at Unity Software

In other Unity Software news, COO Alexander Blum sold 43,556 shares of the firm's stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $43.51, for a total transaction of $1,895,121.56. Following the completion of the transaction, the chief operating officer owned 661,855 shares of the company's stock, valued at approximately $28,797,311.05. This trade represents a 6.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew Bromberg sold 16,383 shares of Unity Software stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $45.31, for a total value of $742,313.73. Following the transaction, the chief executive officer owned 1,541,131 shares of the company's stock, valued at $69,828,645.61. The trade was a 1.05% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 109,547 shares of company stock worth $4,884,202 over the last three months. Company insiders own 0.77% of the company's stock.

About Unity Software

Unity Software Inc develops software and services for creating, operating and monetizing interactive, real-time content. Its core product is the Unity engine, a development platform used to build video games and experiences for mobile devices, personal computers, consoles, augmented and virtual reality systems, and other platforms.

The company also provides tools and services that support the development and operation of interactive applications, including collaboration and cloud-based development tools, multiplayer and voice communication capabilities, analytics, advertising, and in-app monetization solutions.

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