ExodusPoint Capital Management LP Makes New Investment in Unity Software Inc. (NYSE:U)

ExodusPoint Capital Management LP acquired a new position in shares of Unity Software Inc. (NYSE:U) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 44,411 shares of the company’s stock, valued at approximately $1,441,000.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Unity Software by 3.0% during the 3rd quarter. Vanguard Group Inc. now owns 19,022,372 shares of the company’s stock valued at $606,053,000 after purchasing an additional 552,115 shares during the last quarter. ARK Investment Management LLC increased its position in shares of Unity Software by 12.2% during the 1st quarter. ARK Investment Management LLC now owns 12,307,660 shares of the company’s stock valued at $399,260,000 after purchasing an additional 1,335,347 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Unity Software by 14.0% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 8,044,123 shares of the company’s stock valued at $260,951,000 after acquiring an additional 987,473 shares during the period. Nikko Asset Management Americas Inc. increased its stake in shares of Unity Software by 15.2% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 7,399,908 shares of the company’s stock worth $235,391,000 after purchasing an additional 975,221 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Unity Software in the 4th quarter worth approximately $157,766,000. 64.74% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Unity Software

In other Unity Software news, insider Tomer Bar-Zeev sold 187,500 shares of the stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $41.41, for a total transaction of $7,764,375.00. Following the transaction, the insider now directly owns 1,451,459 shares in the company, valued at $60,104,917.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Unity Software news, insider Tomer Bar-Zeev sold 187,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 27th. The stock was sold at an average price of $41.41, for a total value of $7,764,375.00. Following the completion of the sale, the insider now owns 1,451,459 shares in the company, valued at $60,104,917.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark Barrysmith sold 8,620 shares of the business’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $36.27, for a total transaction of $312,647.40. Following the completion of the transaction, the insider now owns 97,743 shares in the company, valued at approximately $3,545,138.61. The disclosure for this sale can be found here. Insiders have sold 576,473 shares of company stock worth $23,736,070 over the last 90 days. Corporate insiders own 9.00% of the company’s stock.

Unity Software Trading Up 0.1 %

Shares of Unity Software stock opened at $37.09 on Friday. Unity Software Inc. has a 1 year low of $21.22 and a 1 year high of $50.08. The firm has a market cap of $14.22 billion, a PE ratio of -13.06 and a beta of 2.37. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.46 and a quick ratio of 2.46. The company has a 50 day simple moving average of $40.43 and a two-hundred day simple moving average of $34.42.

Unity Software (NYSE:U) last released its quarterly earnings results on Wednesday, August 2nd. The company reported ($0.26) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.04. Unity Software had a negative return on equity of 19.44% and a negative net margin of 54.46%. The business had revenue of $533.48 million for the quarter, compared to the consensus estimate of $514.80 million. Analysts expect that Unity Software Inc. will post -0.88 earnings per share for the current fiscal year.

Analysts Set New Price Targets

U has been the topic of several research reports. Wedbush boosted their target price on Unity Software from $50.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, August 3rd. Morgan Stanley increased their target price on shares of Unity Software from $28.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 3rd. Piper Sandler boosted their price target on shares of Unity Software from $43.00 to $48.00 and gave the company an “overweight” rating in a research report on Monday, July 31st. JMP Securities assumed coverage on shares of Unity Software in a research note on Thursday, June 29th. They set a “market perform” rating on the stock. Finally, DA Davidson raised their price objective on shares of Unity Software from $45.00 to $50.00 in a report on Wednesday, June 28th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $42.69.

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.