Picton Mahoney Asset Management Has $4.25 Million Stake in Unity Software Inc. $U

Picton Mahoney Asset Management raised its stake in shares of Unity Software Inc. (NYSE:U) by 227.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 106,253 shares of the company’s stock after acquiring an additional 73,763 shares during the quarter. Picton Mahoney Asset Management’s holdings in Unity Software were worth $4,254,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Unity Software during the 2nd quarter valued at about $151,221,000. Slate Path Capital LP boosted its position in Unity Software by 25.4% during the second quarter. Slate Path Capital LP now owns 20,016,952 shares of the company’s stock worth $484,410,000 after purchasing an additional 4,048,484 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in Unity Software during the third quarter valued at approximately $106,233,000. Duquesne Family Office LLC bought a new position in shares of Unity Software in the second quarter valued at approximately $42,932,000. Finally, Ameriprise Financial Inc. raised its position in shares of Unity Software by 37.8% in the second quarter. Ameriprise Financial Inc. now owns 4,628,328 shares of the company’s stock valued at $112,006,000 after purchasing an additional 1,270,798 shares during the period. Institutional investors own 73.46% of the company’s stock.

Unity Software Stock Up 1.8%

Shares of U opened at $20.74 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.84 and a current ratio of 1.84. The company has a 50-day simple moving average of $32.45 and a 200-day simple moving average of $38.07. Unity Software Inc. has a 52 week low of $15.33 and a 52 week high of $52.15. The firm has a market capitalization of $8.98 billion, a P/E ratio of -21.60, a P/E/G ratio of 10.93 and a beta of 2.14.

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

Insider Buying and Selling at Unity Software

In other Unity Software news, CAO Mark Barrysmith sold 10,578 shares of Unity Software stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $18.07, for a total transaction of $191,144.46. Following the sale, the chief accounting officer owned 383,901 shares in the company, valued at $6,937,091.07. The trade was a 2.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director David Helgason sold 393,312 shares of the business’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $49.64, for a total transaction of $19,524,007.68. Following the completion of the sale, the director directly owned 5,439,173 shares in the company, valued at $270,000,547.72. This trade represents a 6.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 933,233 shares of company stock valued at $45,387,419 in the last quarter. 3.61% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price objective on shares of Unity Software in a report on Wednesday, February 11th. Citizens Jmp decreased their price target on shares of Unity Software from $50.00 to $37.00 and set a “market outperform” rating for the company in a report on Thursday, February 12th. Wells Fargo & Company dropped their price objective on Unity Software from $54.00 to $38.00 and set an “overweight” rating on the stock in a research note on Thursday, February 12th. Barclays cut their price objective on Unity Software from $35.00 to $28.00 and set an “equal weight” rating for the company in a research report on Thursday, February 12th. Finally, Wedbush lowered their target price on Unity Software from $37.00 to $30.00 and set an “outperform” 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 issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $39.73.

About Unity Software

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.