Summit Trail Advisors LLC Takes Position in Unity Software Inc. (NYSE:U)

Summit Trail Advisors LLC acquired a new stake in shares of Unity Software Inc. (NYSE:U) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 5,209 shares of the company’s stock, valued at approximately $213,000.

Other hedge funds have also recently made changes to their positions in the company. Spire Wealth Management raised its position in Unity Software by 234.2% in the 4th quarter. Spire Wealth Management now owns 10,841 shares of the company’s stock valued at $443,000 after buying an additional 7,597 shares during the last quarter. Nkcfo LLC purchased a new stake in shares of Unity Software in the fourth quarter valued at about $204,000. River Global Investors LLP lifted its position in shares of Unity Software by 44.4% during the fourth quarter. River Global Investors LLP now owns 18,959 shares of the company’s stock valued at $775,000 after purchasing an additional 5,829 shares in the last quarter. TCG Advisory Services LLC purchased a new position in Unity Software during the fourth quarter worth about $509,000. Finally, Vestmark Advisory Solutions Inc. bought a new stake in Unity Software in the 4th quarter worth about $9,166,000. 73.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on U. Barclays dropped their target price on shares of Unity Software from $30.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 27th. Citigroup cut their price objective on Unity Software from $50.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, February 28th. Wedbush restated an “outperform” rating and issued a $33.50 price objective on shares of Unity Software in a research note on Thursday, May 2nd. Needham & Company LLC lowered their target price on Unity Software from $40.00 to $31.00 and set a “buy” rating on the stock in a research note on Tuesday, February 27th. Finally, Macquarie lowered shares of Unity Software from a “neutral” rating to an “underperform” rating and set a $20.00 price target for the company. in a research report on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $37.03.

Unity Software Price Performance

Shares of NYSE:U opened at $24.09 on Thursday. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $9.30 billion, a PE ratio of -11.15 and a beta of 2.40. Unity Software Inc. has a twelve month low of $22.20 and a twelve month high of $50.08. The company has a 50-day moving average price of $25.82 and a two-hundred day moving average price of $30.26.

Unity Software (NYSE:U) last issued its earnings results on Monday, February 26th. The company reported ($0.66) earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.89). The business had revenue of $609.27 million for the quarter, compared to the consensus estimate of $551.01 million. Unity Software had a negative return on equity of 10.14% and a negative net margin of 37.64%. Unity Software’s revenue for the quarter was up 35.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.50) EPS. Equities analysts forecast that Unity Software Inc. will post -0.63 EPS for the current year.

Insider Transactions at Unity Software

In other news, SVP Anirma Gupta sold 1,037 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $24.42, for a total value of $25,323.54. Following the sale, the senior vice president now directly owns 386,706 shares of the company’s stock, valued at $9,443,360.52. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Tomer Bar-Zeev sold 250,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $26.59, for a total value of $6,647,500.00. Following the sale, the director now directly owns 4,498,146 shares of the company’s stock, valued at $119,605,702.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Anirma Gupta sold 1,037 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $24.42, for a total transaction of $25,323.54. Following the completion of the sale, the senior vice president now directly owns 386,706 shares in the company, valued at $9,443,360.52. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 338,917 shares of company stock valued at $9,460,820. 6.30% of the stock is currently owned by corporate 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.