Hudson Bay Capital Management LP Acquires Shares of 61,704 Unity Software Inc. $U

Hudson Bay Capital Management LP acquired a new stake in Unity Software Inc. (NYSE:U) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 61,704 shares of the company’s stock, valued at approximately $2,471,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Unity Software by 5.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 813,176 shares of the company’s stock valued at $15,930,000 after buying an additional 45,481 shares during the period. Focus Partners Wealth bought a new position in Unity Software during the first quarter valued at $260,000. Envestnet Asset Management Inc. purchased a new stake in shares of Unity Software in the second quarter valued at $238,000. Allworth Financial LP raised its stake in shares of Unity Software by 28.4% in the second 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. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Unity Software by 148.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 22,181 shares of the company’s stock worth $537,000 after acquiring an additional 13,245 shares during the last quarter. Hedge funds and other institutional investors own 73.46% of the company’s stock.

Unity Software Stock Down 4.0%

Shares of NYSE:U opened at $18.38 on Friday. The business’s 50 day moving average is $26.92 and its 200 day moving average is $36.60. The stock has a market cap of $7.96 billion, a P/E ratio of -19.14, a price-to-earnings-growth ratio of 9.87 and a beta of 2.14. Unity Software Inc. has a 52-week low of $15.33 and a 52-week high of $52.15. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.52.

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

Insider Activity at Unity Software

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on U. Freedom Capital raised shares of Unity Software to a “strong-buy” rating in a research note on Thursday, January 15th. UBS Group decreased their price objective on shares of Unity Software from $46.00 to $32.00 and set a “neutral” rating for the company in a research note on Tuesday, February 10th. The Goldman Sachs Group dropped their target price on Unity Software from $47.00 to $27.00 and set a “neutral” rating for the company in a research report on Thursday, February 12th. Oppenheimer raised Unity Software from a “market perform” rating to an “outperform” rating and set a $38.00 target price on the stock in a research note on Tuesday, February 10th. Finally, Barclays reduced their price target on Unity Software from $35.00 to $28.00 and set an “equal weight” rating on the stock in a report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.73.

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.