Quantessence Capital LLC Makes New Investment in Unity Software Inc. (NYSE:U)

Quantessence Capital LLC acquired a new position in shares of Unity Software Inc. (NYSE:U) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 38,740 shares of the company’s stock, valued at approximately $870,000.

Other large investors have also recently bought and sold shares of the company. Slate Path Capital LP purchased a new position in shares of Unity Software during the 4th quarter worth $62,387,000. Tradition Wealth Management LLC acquired a new stake in shares of Unity Software in the fourth quarter worth approximately $393,000. Dimensional Fund Advisors LP grew its stake in shares of Unity Software by 35.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,473,370 shares of the company’s stock valued at $55,578,000 after buying an additional 642,627 shares during the period. First Trust Advisors LP acquired a new stake in Unity Software during the fourth quarter worth about $10,264,000. Finally, Formula Growth Ltd. lifted its stake in shares of Unity Software by 2.9% in the 4th quarter. Formula Growth Ltd. now owns 180,000 shares of the company’s stock valued at $4,045,000 after purchasing an additional 5,000 shares in the last quarter. Institutional investors and hedge funds own 73.46% of the company’s stock.

Insiders Place Their Bets

In related news, Director David Helgason sold 38,924 shares of Unity Software stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $26.92, for a total value of $1,047,834.08. Following the sale, the director now directly owns 7,828,494 shares in the company, valued at $210,743,058.48. This trade represents a 0.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Tomer Bar-Zeev sold 166,667 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $20.99, for a total transaction of $3,498,340.33. Following the completion of the transaction, the director now owns 3,481,479 shares of the company’s stock, valued at approximately $73,076,244.21. This trade represents a 4.57 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 782,231 shares of company stock valued at $17,933,528. Company insiders own 6.30% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on U. Benchmark raised shares of Unity Software from a “sell” rating to a “hold” rating in a research report on Thursday, February 20th. Citigroup upgraded Unity Software from a “neutral” rating to a “buy” rating and set a $30.00 price target for the company in a report on Tuesday, March 11th. UBS Group reduced their price objective on Unity Software from $30.00 to $22.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Citizens Jmp upgraded Unity Software from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 11th. Finally, Wedbush restated an “outperform” rating and issued a $27.00 price target on shares of Unity Software in a report on Thursday, February 13th. Ten analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Unity Software currently has an average rating of “Moderate Buy” and a consensus target price of $23.96.

Unity Software Stock Up 0.4 %

NYSE:U opened at $19.31 on Tuesday. The stock has a 50-day simple moving average of $21.53 and a 200 day simple moving average of $22.01. Unity Software Inc. has a one year low of $13.90 and a one year high of $30.88. The company has a market capitalization of $7.91 billion, a price-to-earnings ratio of -11.49 and a beta of 2.31. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.41 and a current ratio of 2.41.

Unity Software (NYSE:U) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.05. Unity Software had a negative return on equity of 13.40% and a negative net margin of 36.63%. The business had revenue of $457.10 million during the quarter, compared to the consensus estimate of $433.47 million. Sell-side analysts predict that Unity Software Inc. will post -1.25 EPS for the current fiscal year.

Unity Software Profile

Unity Software Inc operates a real-time 3D development platform. Its platform provides software solutions to create, run, and monetize interactive, real-time 2D and 3D content for mobile phones, tablets, PCs, consoles, and augmented and virtual reality devices. The company offers its solutions directly through its online store and field sales operations in North America, Denmark, Finland, the United Kingdom, Germany, Japan, China, Singapore, and South Korea, as well as indirectly through independent distributors and resellers worldwide.