Belpointe Asset Management LLC Makes New $885,000 Investment in Unity Software Inc. $U

Belpointe Asset Management LLC bought a new stake in shares of Unity Software Inc. (NYSE:U) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 22,110 shares of the company’s stock, valued at approximately $885,000.

Several other institutional investors have also modified their holdings of the business. GAMMA Investing LLC grew its stake in Unity Software by 10.8% during the 3rd quarter. GAMMA Investing LLC now owns 2,967 shares of the company’s stock valued at $119,000 after purchasing an additional 288 shares in the last quarter. Allworth Financial LP boosted its stake in shares of Unity Software by 28.4% during the 2nd quarter. Allworth Financial LP now owns 1,865 shares of the company’s stock valued at $45,000 after buying an additional 412 shares during the last quarter. Captrust Financial Advisors grew its position in shares of Unity Software by 2.1% during the second quarter. Captrust Financial Advisors now owns 22,330 shares of the company’s stock worth $540,000 after buying an additional 462 shares in the last quarter. Stephens Inc. AR increased its stake in shares of Unity Software by 4.1% in the third quarter. Stephens Inc. AR now owns 11,826 shares of the company’s stock worth $474,000 after buying an additional 471 shares during the last quarter. Finally, Forum Financial Management LP raised its holdings in Unity Software by 4.6% in the third quarter. Forum Financial Management LP now owns 11,086 shares of the company’s stock valued at $444,000 after acquiring an additional 492 shares in the last quarter. Institutional investors and hedge funds own 73.46% of the company’s stock.

Unity Software Trading Down 4.4%

Shares of U stock opened at $38.39 on Friday. The company has a quick ratio of 2.78, a current ratio of 2.78 and a debt-to-equity ratio of 0.70. The stock has a 50-day simple moving average of $44.18 and a 200 day simple moving average of $40.25. Unity Software Inc. has a fifty-two week low of $15.33 and a fifty-two week high of $52.15. The stock has a market capitalization of $16.43 billion, a P/E ratio of -36.56, a P/E/G ratio of 42.10 and a beta of 2.04.

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

Insider Activity

In other news, CFO Jarrod Yahes sold 34,719 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $41.38, for a total transaction of $1,436,672.22. Following the completion of the sale, the chief financial officer owned 573,871 shares of the company’s stock, valued at approximately $23,746,781.98. This trade represents a 5.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Alexander Blum sold 40,693 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $41.38, for a total transaction of $1,683,876.34. Following the completion of the transaction, the chief operating officer directly owned 563,118 shares in the company, valued at $23,301,822.84. This trade represents a 6.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 1,647,935 shares of company stock valued at $75,174,498. 3.61% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on U shares. Citigroup upped their target price on shares of Unity Software from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Tuesday, November 11th. Morgan Stanley raised their price objective on Unity Software from $48.00 to $52.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 13th. Barclays boosted their target price on shares of Unity Software from $30.00 to $35.00 and gave the company an “equal weight” rating in a research note on Thursday, November 6th. Wall Street Zen raised shares of Unity Software from a “hold” rating to a “buy” rating in a report on Saturday, December 6th. Finally, The Goldman Sachs Group lifted their price target on shares of Unity Software from $42.00 to $47.00 and gave the company a “neutral” rating in a report on Tuesday, January 13th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $45.27.

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.