Greenland Capital Management LP Acquires New Stake in Unity Software Inc. $U

Greenland Capital Management LP bought a new position in shares of Unity Software Inc. (NYSE:U) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 19,892 shares of the company’s stock, valued at approximately $569,000.

A number of other institutional investors have also added to or reduced their stakes in U. REAP Financial Group LLC purchased a new stake in shares of Unity Software during the 4th quarter valued at $28,000. Larson Financial Group LLC lifted its stake in shares of Unity Software by 88.1% in the 3rd quarter. Larson Financial Group LLC now owns 728 shares of the company’s stock valued at $29,000 after acquiring an additional 341 shares during the last quarter. IFP Advisors Inc bought a new stake in Unity Software in the third quarter valued at approximately $33,000. International Assets Investment Management LLC bought a new stake in Unity Software during the 4th quarter valued at $36,000. Finally, Cornerstone Planning Group LLC raised its stake in shares of Unity Software by 3,953.3% during the fourth quarter. Cornerstone Planning Group LLC now owns 1,216 shares of the company’s stock valued at $49,000 after acquiring an additional 1,186 shares during the last quarter. 73.46% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Unity Software news, CAO Mark Barrysmith sold 13,247 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $27.18, for a total transaction of $360,053.46. Following the completion of the transaction, the chief accounting officer owned 370,654 shares of the company’s stock, valued at approximately $10,074,375.72. This trade represents a 3.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Matthew S. Bromberg sold 138,993 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $27.18, for a total transaction of $3,777,829.74. Following the sale, the chief executive officer owned 1,557,514 shares in the company, valued at approximately $42,333,230.52. This trade represents a 8.19% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 198,321 shares of company stock valued at $5,390,783 over the last 90 days. 0.77% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Piper Sandler boosted their target price on Unity Software from $45.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. BTIG Research raised their price target on Unity Software from $43.00 to $51.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Wedbush lifted their price target on shares of Unity Software from $32.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday, July 22nd. UBS Group reissued an “outperform” rating on shares of Unity Software in a research report on Friday, August 7th. Finally, Bank of America upgraded shares of Unity Software from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $30.00 to $50.00 in a report on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $45.16.

Unity Software Stock Performance

Unity Software stock opened at $46.90 on Friday. Unity Software Inc. has a fifty-two week low of $16.78 and a fifty-two week high of $52.15. The stock’s 50 day simple moving average is $33.48 and its two-hundred day simple moving average is $27.07. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.03 and a current ratio of 2.03. The stock has a market cap of $20.64 billion, a price-to-earnings ratio of -34.49, a PEG ratio of 2.06 and a beta of 2.04.

Unity Software (NYSE:U) last announced its earnings results on Thursday, August 6th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.39. The firm had revenue of $546.47 million during the quarter, compared to analyst estimates of $514.72 million. Unity Software had a positive return on equity of 4.64% and a negative net margin of 28.97%.The business’s revenue was up 24.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.18 EPS. As a group, analysts expect that Unity Software Inc. will post 0.55 earnings per share for the current fiscal year.

Unity Software 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.