Unity Software Inc. $U is Kettle Hill Capital Management LLC’s 2nd Largest Position

Kettle Hill Capital Management LLC raised its stake in shares of Unity Software Inc. (NYSE:U) by 180.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 658,005 shares of the company’s stock after buying an additional 423,534 shares during the quarter. Unity Software comprises about 6.5% of Kettle Hill Capital Management LLC’s portfolio, making the stock its 2nd biggest position. Kettle Hill Capital Management LLC’s holdings in Unity Software were worth $29,064,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in U. Wellington Management Group LLP grew its holdings in Unity Software by 58.7% during the 3rd quarter. Wellington Management Group LLP now owns 18,213,875 shares of the company’s stock valued at $729,284,000 after buying an additional 6,734,285 shares in the last quarter. Norges Bank purchased a new position in Unity Software during the 4th quarter valued at about $230,285,000. Duquesne Family Office LLC purchased a new position in Unity Software during the 2nd quarter valued at about $42,932,000. WT Asset Management Ltd purchased a new position in Unity Software during the 4th quarter valued at about $57,626,000. Finally, FengHe Fund Management Pte. Ltd. grew its holdings in shares of Unity Software by 287.0% during the fourth quarter. FengHe Fund Management Pte. Ltd. now owns 1,732,002 shares of the company’s stock worth $76,503,000 after purchasing an additional 1,284,400 shares in the last quarter. Hedge funds and other institutional investors own 73.46% of the company’s stock.

Unity Software Stock Performance

Shares of U stock opened at $28.44 on Tuesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.95 and a current ratio of 1.95. Unity Software Inc. has a fifty-two week low of $16.78 and a fifty-two week high of $52.15. The stock has a 50 day moving average price of $26.44 and a two-hundred day moving average price of $30.57. The company has a market capitalization of $12.42 billion, a P/E ratio of -18.12, a PEG ratio of 3.48 and a beta of 2.06.

Analyst Ratings Changes

U has been the subject of several recent analyst reports. BTIG Research boosted their price objective on Unity Software from $39.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Bank of America boosted their price objective on Unity Software from $19.00 to $21.00 and gave the stock a “neutral” rating in a report on Friday, March 27th. Citigroup cut their price objective on Unity Software from $43.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, April 30th. Wells Fargo & Company boosted their price objective on Unity Software from $29.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Finally, Piper Sandler assumed coverage on Unity Software in a research note on Tuesday, June 2nd. They issued an “overweight” rating and a $40.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $37.71.

Insider Activity at Unity Software

In related news, SVP Rebecca Berenice Boyden sold 952 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $27.20, for a total transaction of $25,894.40. Following the completion of the transaction, the senior vice president owned 309,445 shares in the company, valued at $8,416,904. This represents a 0.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Mark Barrysmith sold 13,247 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $27.18, for a total value of $360,053.46. Following the transaction, the chief accounting officer owned 370,654 shares of the company’s stock, valued at approximately $10,074,375.72. This represents a 3.45% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 198,321 shares of company stock valued at $5,390,783 over the last 90 days. Company insiders own 0.77% of the company’s stock.

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.