Rip Road Capital Partners LP Invests $2.25 Million in Unity Software Inc. (NYSE:U)

Rip Road Capital Partners LP purchased a new stake in Unity Software Inc. (NYSE:U - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 100,000 shares of the company's stock, valued at approximately $2,247,000. Unity Software accounts for approximately 1.9% of Rip Road Capital Partners LP's holdings, making the stock its 17th largest holding.

Several other institutional investors have also modified their holdings of U. Vanguard Group Inc. grew its holdings in Unity Software by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 31,123,035 shares of the company's stock worth $699,335,000 after acquiring an additional 625,872 shares in the last quarter. Capital International Investors lifted its position in shares of Unity Software by 10.4% during the 4th 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. Norges Bank acquired a new position in shares of Unity Software during the fourth quarter worth $269,320,000. Geode Capital Management LLC increased its holdings in Unity Software by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 4,769,609 shares of the company's stock valued at $107,208,000 after buying an additional 84,480 shares during the last quarter. Finally, Slate Path Capital LP acquired a new stake in Unity Software in the fourth quarter valued at $62,387,000. Institutional investors and hedge funds own 73.46% of the company's stock.

Unity Software Stock Performance

NYSE:U traded up $1.55 during midday trading on Friday, reaching $22.77. The stock had a trading volume of 13,658,462 shares, compared to its average volume of 10,953,727. 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 stock has a market cap of $9.46 billion, a P/E ratio of -13.55 and a beta of 2.29. The firm has a fifty day simple moving average of $20.52 and a two-hundred day simple moving average of $22.05. Unity Software Inc. has a 12-month low of $13.90 and a 12-month high of $30.88.

Unity Software (NYSE:U - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.19. Unity Software had a negative net margin of 36.63% and a negative return on equity of 13.40%. The company had revenue of $435.00 million during the quarter, compared to analysts' expectations of $415.77 million. During the same quarter last year, the business earned $0.28 EPS. The business's revenue was down 5.5% on a year-over-year basis. On average, equities analysts expect that Unity Software Inc. will post -1.25 EPS for the current year.

Insiders Place Their Bets

In other news, Director David Helgason sold 38,924 shares of the business's stock in a transaction that occurred on 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 sale, the director now owns 7,828,494 shares of the company's stock, valued at $210,743,058.48. The trade was a 0.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Mark Barrysmith sold 1,395 shares of Unity Software stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $21.68, for a total value of $30,243.60. Following the transaction, the chief accounting officer now directly owns 450,881 shares of the company's stock, valued at approximately $9,775,100.08. This represents a 0.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 783,645 shares of company stock worth $18,063,816. Company insiders own 6.30% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on U. UBS Group reduced their price objective on shares of Unity Software from $30.00 to $22.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Stifel Nicolaus decreased their price objective on shares of Unity Software from $35.00 to $28.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Morgan Stanley dropped their price objective on Unity Software from $32.00 to $25.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Macquarie began coverage on Unity Software in a report on Monday, March 10th. They issued a "neutral" rating and a $24.00 target price for the company. Finally, Benchmark raised Unity Software from a "sell" rating to a "hold" rating in a research report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $24.21.

Unity Software Company 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.