22,110 Shares in Unity Software Inc. $U Acquired by Fortis Capital Advisors LLC

Fortis Capital Advisors LLC acquired a new stake in shares of Unity Software Inc. (NYSE:U) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 22,110 shares of the company’s stock, valued at approximately $885,000.

Several other hedge funds also recently bought and sold shares of U. Slate Path Capital LP boosted its position in shares of Unity Software by 25.4% during the second quarter. Slate Path Capital LP now owns 20,016,952 shares of the company’s stock worth $484,410,000 after purchasing an additional 4,048,484 shares in the last quarter. Norges Bank bought a new position in Unity Software during the second quarter worth about $151,221,000. Geode Capital Management LLC grew its stake in Unity Software by 0.7% in the second quarter. Geode Capital Management LLC now owns 5,064,703 shares of the company’s stock valued at $122,587,000 after acquiring an additional 36,105 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of Unity Software by 37.8% in the second quarter. Ameriprise Financial Inc. now owns 4,628,328 shares of the company’s stock worth $112,006,000 after acquiring an additional 1,270,798 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Unity Software by 8.8% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,017,147 shares of the company’s stock worth $73,015,000 after purchasing an additional 243,990 shares during the period. 73.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Unity Software news, CEO Matthew S. Bromberg sold 41,025 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $41.38, for a total value of $1,697,614.50. Following the completion of the transaction, the chief executive officer directly owned 1,192,541 shares in the company, valued at $49,347,346.58. This trade represents a 3.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 stock was sold at an average price of $49.64, for a total value of $19,524,007.68. Following the transaction, the director directly owned 5,439,173 shares in the company, valued at $270,000,547.72. This trade represents a 6.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 1,647,935 shares of company stock valued at $75,174,498. Corporate insiders own 3.61% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on U. Barclays boosted their price objective on Unity Software from $30.00 to $35.00 and gave the company an “equal weight” rating in a research report on Thursday, November 6th. BTIG Research upgraded shares of Unity Software from a “neutral” rating to a “buy” rating and set a $60.00 price target for the company in a report on Thursday, December 11th. Jefferies Financial Group raised their price objective on shares of Unity Software from $49.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, January 5th. Wedbush upped their target price on shares of Unity Software from $50.00 to $55.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 2nd. Finally, Citigroup increased their target price on Unity Software from $50.00 to $52.00 and gave the stock a “buy” rating in a report on Tuesday, November 11th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $45.27.

Unity Software Stock Performance

Shares of U opened at $42.99 on Tuesday. The stock has a market capitalization of $18.40 billion, a price-to-earnings ratio of -40.94, a PEG ratio of 44.38 and a beta of 2.04. Unity Software Inc. has a 12 month low of $15.33 and a 12 month high of $52.15. The firm has a fifty day simple moving average of $44.07 and a 200 day simple moving average of $40.18. The company has a current ratio of 2.78, a quick ratio of 2.78 and a debt-to-equity ratio of 0.70.

Unity Software (NYSE:U) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.17 by $0.03. Unity Software had a negative net margin of 24.15% and a negative return on equity of 9.45%. The firm had revenue of $470.62 million for the quarter, compared to analysts’ expectations of $452.87 million. During the same period in the previous year, the firm posted ($0.31) EPS. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. Research analysts forecast that Unity Software Inc. will post -1.25 EPS for the current fiscal year.

About Unity Software

Unity Software is a leading provider of a real-time 3D development platform that enables creators across industries to design, build and operate interactive, real-time experiences. Originally focused on the game development market, Unity’s technology now extends into sectors such as film, automotive, architecture, engineering and construction, delivering immersive content for mobile, desktop, console, augmented reality and virtual reality devices. The company’s core offering comprises a suite of authoring tools, runtime engines and cloud services that streamline the creation and deployment of interactive 3D applications.

The Unity Editor serves as the central hub where developers design scenes, script behavior and iterate on assets.