Cinctive Capital Management LP Makes New $4.73 Million Investment in Unity Software Inc. $U

Cinctive Capital Management LP purchased a new stake in Unity Software Inc. (NYSE:U) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 118,047 shares of the company’s stock, valued at approximately $4,727,000.

Several other large investors also recently made changes to their positions in U. Root Financial Partners LLC acquired a new stake in shares of Unity Software during the third quarter worth $27,000. Aster Capital Management DIFC Ltd bought a new stake in Unity Software in the 3rd quarter valued at $38,000. Salem Investment Counselors Inc. acquired a new position in Unity Software in the 3rd quarter worth $40,000. EverSource Wealth Advisors LLC boosted its stake in Unity Software by 81.5% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,187 shares of the company’s stock worth $48,000 after purchasing an additional 533 shares during the period. Finally, Roxbury Financial LLC bought a new position in Unity Software during the 3rd quarter worth about $60,000. Institutional investors own 73.46% of the company’s stock.

Unity Software Trading Down 0.1%

Unity Software stock opened at $19.42 on Monday. The firm has a 50-day moving average of $29.51 and a 200-day moving average of $37.29. Unity Software Inc. has a one year low of $15.33 and a one year high of $52.15. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.84 and a quick ratio of 1.84. The company has a market cap of $8.41 billion, a price-to-earnings ratio of -20.23, a P/E/G ratio of 10.42 and a beta of 2.15.

Unity Software (NYSE:U) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.04. Unity Software had a negative return on equity of 4.76% and a negative net margin of 21.77%.The company had revenue of $503.09 million during the quarter, compared to analysts’ expectations of $490.64 million. During the same quarter last year, the company earned ($0.30) EPS. Unity Software’s revenue for the quarter was up 10.1% compared to the same quarter last year. On average, equities analysts expect that Unity Software Inc. will post -1.25 earnings per share for the current fiscal year.

Insider Buying and Selling at Unity Software

In other news, COO Alexander Blum sold 10,164 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $18.07, for a total transaction of $183,663.48. Following the sale, the chief operating officer owned 550,966 shares in the company, valued at $9,955,955.62. This represents a 1.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Mark Barrysmith sold 10,578 shares of the stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $18.07, for a total value of $191,144.46. Following the completion of the sale, the chief accounting officer directly owned 383,901 shares of the company’s stock, valued at approximately $6,937,091.07. The trade was a 2.68% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 41,684 shares of company stock worth $773,350 over the last ninety days. 3.61% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Bank of America upgraded Unity Software from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $18.00 to $19.00 in a report on Tuesday, March 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Unity Software in a report on Wednesday, January 21st. Arete Research raised Unity Software from a “neutral” rating to a “buy” rating and set a $48.00 target price on the stock in a research report on Monday, December 1st. Citizens Jmp cut their target price on Unity Software from $50.00 to $37.00 and set a “market outperform” rating on the stock in a research note on Thursday, February 12th. Finally, Wall Street Zen raised Unity Software from a “hold” rating to a “buy” rating in a research report on Saturday. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $39.73.

Unity Software 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.