Shell Asset Management Co. Acquires 45,089 Shares of Unity Software Inc. (NYSE:U)

Shell Asset Management Co. grew its holdings in shares of Unity Software Inc. (NYSE:U) by 44.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 145,627 shares of the company’s stock after buying an additional 45,089 shares during the period. Shell Asset Management Co.’s holdings in Unity Software were worth $3,272,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Anderson Financial Strategies LLC bought a new position in Unity Software in the fourth quarter worth approximately $28,000. R Squared Ltd purchased a new stake in Unity Software during the fourth quarter worth $30,000. Principal Securities Inc. lifted its holdings in Unity Software by 50.5% during the fourth quarter. Principal Securities Inc. now owns 1,422 shares of the company’s stock worth $32,000 after buying an additional 477 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Unity Software during the fourth quarter worth $36,000. Finally, Itau Unibanco Holding S.A. lifted its holdings in Unity Software by 150.4% during the fourth quarter. Itau Unibanco Holding S.A. now owns 1,778 shares of the company’s stock worth $40,000 after buying an additional 1,068 shares during the period. Institutional investors own 73.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on U shares. Citizens Jmp upgraded Unity Software from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 11th. Benchmark upgraded Unity Software from a “sell” rating to a “hold” rating in a report on Thursday, February 20th. Needham & Company LLC lowered their target price on Unity Software from $33.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, May 8th. Wedbush lowered Unity Software from a “strong-buy” rating to a “strong sell” rating in a report on Wednesday, May 7th. Finally, HSBC upgraded Unity Software from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Unity Software has an average rating of “Hold” and a consensus price target of $24.21.

Unity Software Stock Performance

NYSE U opened at $22.77 on Friday. The company has a market cap of $9.46 billion, a P/E ratio of -13.55 and a beta of 2.29. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.41 and a quick ratio of 2.41. The stock has a 50-day moving average of $20.52 and a two-hundred day moving average of $22.04. Unity Software Inc. has a 1-year low of $13.90 and a 1-year high of $30.88.

Unity Software (NYSE:U) last released its earnings results on Wednesday, May 7th. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.38) by $0.19. The company had revenue of $435.00 million during the quarter, compared to the consensus estimate of $415.77 million. Unity Software had a negative return on equity of 13.40% and a negative net margin of 36.63%. Unity Software’s revenue was down 5.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.28 EPS. As a group, analysts anticipate that Unity Software Inc. will post -1.25 EPS for the current year.

Insider Activity

In other Unity Software news, COO Alexander Blum sold 1,479 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $25.26, for a total value of $37,359.54. Following the completion of the sale, the chief operating officer now owns 495,648 shares in the company, valued at approximately $12,520,068.48. The trade was a 0.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Mark Barrysmith sold 1,395 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $21.68, for a total value of $30,243.60. Following the completion of the sale, the chief accounting officer now owns 450,881 shares of the company’s stock, valued at approximately $9,775,100.08. This represents a 0.31% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 783,645 shares of company stock worth $18,063,816. 6.30% of the stock is currently owned by company insiders.

About Unity Software

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.