Cambria Investment Management L.P. Sells 50,451 Shares of Unity Software Inc. $U

Cambria Investment Management L.P. decreased its holdings in shares of Unity Software Inc. (NYSE:U) by 62.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,067 shares of the company’s stock after selling 50,451 shares during the period. Cambria Investment Management L.P.’s holdings in Unity Software were worth $1,204,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in Unity Software by 10.8% in the third quarter. GAMMA Investing LLC now owns 2,967 shares of the company’s stock valued at $119,000 after buying an additional 288 shares during the period. Newbridge Financial Services Group Inc. grew its position in shares of Unity Software by 12.9% during the 3rd quarter. Newbridge Financial Services Group Inc. now owns 2,696 shares of the company’s stock worth $108,000 after buying an additional 308 shares during the period. Xponance Inc. increased its stake in shares of Unity Software by 1.8% in the 3rd quarter. Xponance Inc. now owns 18,291 shares of the company’s stock valued at $732,000 after acquiring an additional 328 shares in the last quarter. Larson Financial Group LLC increased its stake in shares of Unity Software by 88.1% in the 3rd quarter. Larson Financial Group LLC now owns 728 shares of the company’s stock valued at $29,000 after acquiring an additional 341 shares in the last quarter. Finally, Allworth Financial LP lifted its position 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 acquiring an additional 412 shares during the period. Institutional investors and hedge funds own 73.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Freedom Capital raised shares of Unity Software to a “strong-buy” rating in a research note on Thursday, January 15th. Wedbush reaffirmed an “outperform” rating and issued a $30.00 price target on shares of Unity Software in a research note on Friday, March 13th. Oppenheimer upgraded shares of Unity Software from a “market perform” rating to an “outperform” rating and set a $38.00 price objective on the stock in a report on Tuesday, February 10th. The Goldman Sachs Group cut their price objective on shares of Unity Software from $47.00 to $27.00 and set a “neutral” rating on the stock in a research report on Thursday, February 12th. Finally, Benchmark restated a “hold” rating on shares of Unity Software in a research note on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Unity Software presently has an average rating of “Moderate Buy” and a consensus target price of $39.73.

Unity Software Stock Performance

NYSE U opened at $19.12 on Friday. The company has a fifty day simple moving average of $27.44 and a 200 day simple moving average of $36.77. Unity Software Inc. has a 12-month low of $15.33 and a 12-month high of $52.15. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.52. The company has a market cap of $8.28 billion, a P/E ratio of -19.92, a PEG ratio of 10.57 and a beta of 2.14.

Unity Software (NYSE:U) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.04. Unity Software had a negative net margin of 21.77% and a negative return on equity of 4.76%. The business had revenue of $503.09 million during the quarter, compared to analyst estimates of $490.64 million. During the same quarter in the previous year, the business posted ($0.30) EPS. Unity Software’s quarterly revenue was up 10.1% on a year-over-year basis. Sell-side analysts predict that Unity Software Inc. will post -1.25 earnings per share for the current fiscal year.

Insider Transactions at Unity Software

In related news, CAO Mark Barrysmith sold 10,578 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $18.07, for a total value of $191,144.46. Following the transaction, the chief accounting officer owned 383,901 shares of the company’s stock, valued at approximately $6,937,091.07. This trade represents a 2.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Alexander Blum sold 2,541 shares of the business’s stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $18.76, for a total value of $47,669.16. Following the sale, the chief operating officer directly owned 548,425 shares of the company’s stock, valued at $10,288,453. This represents a 0.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 41,684 shares of company stock valued at $773,350 over the last three months. Corporate insiders own 3.61% of the company’s stock.

Unity Software Company Profile

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.