Shell Asset Management Co. Buys 45,089 Shares of Unity Software Inc. (NYSE:U)

Shell Asset Management Co. grew its position in shares of Unity Software Inc. (NYSE:U - Free Report) by 44.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 145,627 shares of the company's stock after purchasing an additional 45,089 shares during the quarter. Shell Asset Management Co.'s holdings in Unity Software were worth $3,272,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Sherbrooke Park Advisers LLC acquired a new stake in shares of Unity Software during the fourth quarter valued at about $413,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Unity Software in the fourth quarter worth approximately $36,000. Rip Road Capital Partners LP acquired a new position in shares of Unity Software in the fourth quarter worth approximately $2,247,000. Quantinno Capital Management LP lifted its stake in shares of Unity Software by 91.0% in the fourth quarter. Quantinno Capital Management LP now owns 379,768 shares of the company's stock worth $8,533,000 after acquiring an additional 180,958 shares during the period. Finally, Malaga Cove Capital LLC acquired a new position in shares of Unity Software in the fourth quarter worth approximately $266,000. 73.46% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Mark Barrysmith sold 12,019 shares of the company's stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $25.42, for a total transaction of $305,522.98. Following the transaction, the chief accounting officer now owns 438,862 shares of the company's stock, valued at $11,155,872.04. This represents a 2.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Anirma Gupta sold 31,948 shares of the company's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $25.23, for a total value of $806,048.04. Following the transaction, the senior vice president now directly owns 542,942 shares in the company, valued at $13,698,426.66. This represents a 5.56% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 781,785 shares of company stock valued at $18,023,491. Insiders own 6.30% of the company's stock.

Unity Software Stock Down 0.0%

Unity Software stock traded down $0.01 during trading on Tuesday, hitting $22.23. 7,848,262 shares of the company were exchanged, compared to its average volume of 10,968,460. The business's 50 day moving average is $20.53 and its 200 day moving average is $22.07. Unity Software Inc. has a 52 week low of $13.90 and a 52 week high of $30.88. The company has a market capitalization of $9.24 billion, a P/E ratio of -13.23 and a beta of 2.29. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.70.

Unity Software (NYSE:U - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.38) by $0.19. Unity Software had a negative return on equity of 13.40% and a negative net margin of 36.63%. The business had revenue of $435.00 million during the quarter, compared to the consensus estimate of $415.77 million. During the same quarter in the prior year, the company posted $0.28 earnings per share. Unity Software's revenue was down 5.5% compared to the same quarter last year. Analysts predict that Unity Software Inc. will post -1.25 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on U shares. Wells Fargo & Company lowered 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 research note on Tuesday, April 8th. JMP Securities reissued a "market perform" rating on shares of Unity Software in a research report on Monday, February 3rd. Benchmark raised Unity Software from a "sell" rating to a "hold" rating in a research note on Thursday, February 20th. Barclays cut their target price on shares of Unity Software from $26.00 to $25.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 8th. Finally, Citigroup upgraded Unity Software from a "neutral" rating to a "buy" rating and set a $30.00 price objective for the company in a report on Tuesday, March 11th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price 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.