GAMMA Investing LLC Grows Stock Position in Unity Software Inc. (NYSE:U)

GAMMA Investing LLC raised its holdings in Unity Software Inc. (NYSE:U) by 3,279.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,283 shares of the company’s stock after buying an additional 53,647 shares during the period. GAMMA Investing LLC’s holdings in Unity Software were worth $1,083,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. California State Teachers Retirement System boosted its holdings in Unity Software by 0.4% in the 4th quarter. California State Teachers Retirement System now owns 261,740 shares of the company’s stock valued at $5,881,000 after purchasing an additional 1,031 shares in the last quarter. Soviero Asset Management LP acquired a new position in shares of Unity Software during the 4th quarter worth approximately $2,247,000. Sphera Management Technology Funds Ltd acquired a new position in Unity Software in the 4th quarter valued at $1,128,000. Two Sigma Advisers LP acquired a new position in Unity Software in the 4th quarter valued at $494,000. Finally, Two Sigma Investments LP acquired a new position in Unity Software in the 4th quarter valued at $22,999,000. 73.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on U. Stifel Nicolaus reduced their price target on shares of Unity Software from $35.00 to $28.00 and set a “buy” rating on the stock in a research report on Thursday, May 8th. Barclays reduced their price objective on Unity Software from $26.00 to $25.00 and set an “equal weight” rating for the company in a research note on Thursday, May 8th. Needham & Company LLC decreased their target price on Unity Software from $33.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, May 8th. UBS Group cut their price objective on Unity Software from $30.00 to $22.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Finally, Macquarie began coverage on Unity Software in a research note on Monday, March 10th. They issued a “neutral” rating and a $24.00 price objective on the stock. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $25.14.

Unity Software Stock Down 5.2%

U opened at $23.69 on Monday. Unity Software Inc. has a 12 month low of $13.90 and a 12 month high of $30.88. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.70. The company has a market cap of $9.85 billion, a PE ratio of -14.10 and a beta of 2.34. The company has a 50 day moving average of $21.85 and a 200 day moving average of $22.44.

Unity Software (NYSE:U) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.19) earnings per share for the quarter, beating 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 firm had revenue of $435.00 million for the quarter, compared to analysts’ expectations of $415.77 million. During the same quarter last year, the company posted $0.28 EPS. The business’s quarterly revenue was down 5.5% on a year-over-year basis. On average, sell-side analysts expect that Unity Software Inc. will post -1.25 EPS for the current year.

Insider Activity at Unity Software

In other news, Director David Helgason sold 261,473 shares of the stock in a transaction on Friday, June 6th. The shares were sold at an average price of $25.70, for a total value of $6,719,856.10. Following the completion of the sale, the director now directly owns 7,489,173 shares of the company’s stock, valued at $192,471,746.10. This represents a 3.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Tomer Bar-Zeev sold 166,667 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $20.04, for a total transaction of $3,340,006.68. Following the completion of the sale, the director now directly owns 2,981,479 shares of the company’s stock, valued at approximately $59,748,839.16. This trade represents a 5.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,294,611 shares of company stock valued at $30,506,382 in the last three months. Company insiders own 3.61% of the company’s stock.

About Unity Software

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.