Unity Software Inc. $U Shares Bought by Slate Path Capital LP

Slate Path Capital LP lifted its stake in Unity Software Inc. (NYSE:U) by 25.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,016,952 shares of the company’s stock after acquiring an additional 4,048,484 shares during the quarter. Unity Software makes up approximately 8.3% of Slate Path Capital LP’s investment portfolio, making the stock its largest position. Slate Path Capital LP owned approximately 4.74% of Unity Software worth $484,410,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of U. Vanguard Group Inc. boosted its position in Unity Software by 5.9% during the first quarter. Vanguard Group Inc. now owns 32,964,521 shares of the company’s stock valued at $645,775,000 after purchasing an additional 1,841,486 shares during the last quarter. Atreides Management LP raised its stake in shares of Unity Software by 146.7% during the 1st quarter. Atreides Management LP now owns 9,430,955 shares of the company’s stock worth $184,752,000 after purchasing an additional 5,607,572 shares in the last quarter. Norges Bank acquired a new stake in shares of Unity Software in the 2nd quarter valued at approximately $151,221,000. Geode Capital Management LLC grew its stake in shares of Unity Software by 0.7% in the second quarter. Geode Capital Management LLC now owns 5,064,703 shares of the company’s stock valued at $122,587,000 after buying an additional 36,105 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in Unity Software by 89.7% during the first quarter. Ameriprise Financial Inc. now owns 3,357,530 shares of the company’s stock worth $65,778,000 after buying an additional 1,587,582 shares during the last quarter. Institutional investors own 73.46% of the company’s stock.

Insiders Place Their Bets

In other news, Director Tomer Bar-Zeev sold 250,000 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $41.93, for a total transaction of $10,482,500.00. Following the transaction, the director directly owned 1,048,146 shares of the company’s stock, valued at approximately $43,948,761.78. This trade represents a 19.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Mark Barrysmith sold 13,684 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $41.38, for a total value of $566,243.92. Following the completion of the sale, the chief accounting officer owned 408,886 shares of the company’s stock, valued at approximately $16,919,702.68. This trade represents a 3.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 1,156,658 shares of company stock worth $47,498,475. 3.61% of the stock is currently owned by insiders.

Unity Software Trading Down 0.7%

Shares of NYSE:U opened at $49.10 on Thursday. Unity Software Inc. has a 12-month low of $15.33 and a 12-month high of $50.66. The business has a 50 day moving average of $39.53 and a 200-day moving average of $35.55. The company has a quick ratio of 2.78, a current ratio of 2.78 and a debt-to-equity ratio of 0.70. The stock has a market cap of $21.01 billion, a PE ratio of -46.76 and a beta of 2.04.

Unity Software (NYSE:U) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.03. The business had revenue of $470.62 million during the quarter, compared to analysts’ expectations of $452.87 million. Unity Software had a negative return on equity of 9.45% and a negative net margin of 24.15%.The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period last year, the firm posted ($0.31) EPS. As a group, equities research analysts forecast that Unity Software Inc. will post -1.25 earnings per share for the current year.

Analysts Set New Price Targets

U has been the subject of a number of recent analyst reports. Morgan Stanley increased their price target on shares of Unity Software from $40.00 to $44.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. Wedbush upped their target price on shares of Unity Software from $50.00 to $55.00 and gave the company an “outperform” rating in a report on Tuesday, December 2nd. Wells Fargo & Company upgraded shares of Unity Software from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $42.00 to $51.00 in a research note on Friday, December 5th. Zacks Research downgraded Unity Software from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 13th. Finally, Arete Research upgraded Unity Software from a “neutral” rating to a “buy” rating and set a $48.00 price objective on the stock in a research note on Monday, December 1st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $42.11.

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.