Slate Path Capital LP Purchases New Position in Unity Software Inc. (NYSE:U)

Slate Path Capital LP acquired a new position in Unity Software Inc. (NYSE:U - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 2,776,468 shares of the company's stock, valued at approximately $62,387,000. Slate Path Capital LP owned approximately 0.69% of Unity Software at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Unity Software by 2.1% in 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 during the period. Capital International Investors boosted its stake in Unity Software by 10.4% during the 4th quarter. Capital International Investors now owns 18,886,853 shares of the company's stock valued at $424,388,000 after purchasing an additional 1,786,032 shares in the last quarter. Norges Bank acquired a new position in shares of Unity Software during the 4th quarter valued at $269,320,000. Geode Capital Management LLC lifted its holdings in shares of 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 period. Finally, Dimensional Fund Advisors LP boosted its stake in Unity Software by 35.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,473,370 shares of the company's stock valued at $55,578,000 after buying an additional 642,627 shares in the last quarter. 73.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Unity Software

In related news, CAO Mark Barrysmith sold 1,395 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $21.68, for a total value of $30,243.60. Following the completion of the sale, the chief accounting officer now owns 450,881 shares in the company, valued at approximately $9,775,100.08. This trade represents a 0.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David Helgason sold 38,924 shares of the firm'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 value of $1,047,834.08. Following the completion of the sale, the director now owns 7,828,494 shares of the company's stock, valued at $210,743,058.48. This represents a 0.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 782,231 shares of company stock worth $17,933,528 over the last three months. Corporate insiders own 6.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Morgan Stanley cut their price target on shares of Unity Software from $32.00 to $25.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Benchmark raised shares of Unity Software from a "sell" rating to a "hold" rating in a research note on Thursday, February 20th. Citizens Jmp upgraded shares of Unity Software from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 11th. UBS Group reduced their price objective on Unity Software from $30.00 to $22.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Finally, Needham & Company LLC boosted their target price on Unity Software from $26.00 to $33.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Ten analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $23.96.

Unity Software Stock Up 0.6 %

Shares of U stock traded up $0.14 during trading on Friday, hitting $22.45. 6,380,660 shares of the company were exchanged, compared to its average volume of 10,943,846. The business's 50-day simple moving average is $21.53 and its 200 day simple moving average is $22.02. The firm has a market capitalization of $9.33 billion, a price-to-earnings ratio of -13.36 and a beta of 2.31. Unity Software Inc. has a twelve month low of $13.90 and a twelve month high of $30.88. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.41 and a current ratio of 2.41.

Unity Software (NYSE:U - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.05. Unity Software had a negative return on equity of 13.40% and a negative net margin of 36.63%. The business had revenue of $457.10 million during the quarter, compared to analyst estimates of $433.47 million. As a group, analysts forecast that Unity Software Inc. will post -1.25 EPS for the current fiscal year.

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.