Blue Grotto Capital LLC Takes Position in Unity Software Inc. $U

Blue Grotto Capital LLC bought a new stake in Unity Software Inc. (NYSE:U) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 582,766 shares of the company’s stock, valued at approximately $14,103,000. Unity Software accounts for approximately 1.7% of Blue Grotto Capital LLC’s investment portfolio, making the stock its 23rd biggest holding. Blue Grotto Capital LLC owned 0.14% of Unity Software as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. PNC Financial Services Group Inc. raised its stake in shares of Unity Software by 19.2% in the first quarter. PNC Financial Services Group Inc. now owns 8,936 shares of the company’s stock valued at $175,000 after acquiring an additional 1,439 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Unity Software by 10.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,166,916 shares of the company’s stock valued at $42,450,000 after purchasing an additional 208,516 shares during the last quarter. Nuveen LLC purchased a new stake in Unity Software in the first quarter valued at approximately $25,520,000. Lord Abbett & CO. LLC purchased a new stake in Unity Software in the 1st quarter valued at $11,956,000. Finally, Algert Global LLC boosted its stake in shares of Unity Software by 35.8% during the first quarter. Algert Global LLC now owns 157,736 shares of the company’s stock worth $3,090,000 after buying an additional 41,570 shares during the period. Institutional investors and hedge funds own 73.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on U. Hsbc Global Res downgraded Unity Software from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 30th. Morgan Stanley increased their price objective on shares of Unity Software from $40.00 to $44.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. Macquarie upgraded Unity Software from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $33.00 to $50.00 in a report on Friday, November 7th. Deutsche Bank Aktiengesellschaft started coverage on shares of Unity Software in a research note on Wednesday, October 22nd. They set a “hold” rating and a $39.00 price objective for the company. Finally, Piper Sandler raised Unity Software from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $43.00 to $59.00 in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $43.04.

Unity Software Price Performance

Shares of NYSE:U opened at $46.24 on Friday. The company has a market cap of $19.78 billion, a PE ratio of -44.03 and a beta of 2.04. The firm has a 50-day simple moving average of $39.90 and a 200 day simple moving average of $35.82. The company has a quick ratio of 2.78, a current ratio of 2.78 and a debt-to-equity ratio of 0.70. Unity Software Inc. has a fifty-two week low of $15.33 and a fifty-two week high of $52.15.

Unity Software (NYSE:U) last posted its earnings results on Wednesday, November 5th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. Unity Software had a negative return on equity of 9.45% and a negative net margin of 24.15%.The company had revenue of $470.62 million for the quarter, compared to analysts’ expectations of $452.87 million. During the same period last year, the business posted ($0.31) earnings per share. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Unity Software Inc. will post -1.25 EPS for the current year.

Insider Buying and Selling at Unity Software

In other news, Director Tomer Bar-Zeev sold 250,000 shares of the business’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $37.98, for a total transaction of $9,495,000.00. Following the sale, the director directly owned 1,298,146 shares of the company’s stock, valued at $49,303,585.08. The trade was a 16.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David Helgason sold 393,312 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $49.64, for a total transaction of $19,524,007.68. Following the sale, the director owned 5,439,173 shares in the company, valued at $270,000,547.72. This represents a 6.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 1,879,412 shares of company stock valued at $83,536,785. 3.61% of the stock is currently owned by company insiders.

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.