Deepwater Asset Management LLC Grows Stock Holdings in Unity Software Inc. (NYSE:U)

Deepwater Asset Management LLC lifted its position in shares of Unity Software Inc. (NYSE:U) by 515.5% in the 1st quarter, Holdings Channel.com reports. The firm owned 57,564 shares of the company’s stock after purchasing an additional 48,211 shares during the period. Unity Software comprises about 0.6% of Deepwater Asset Management LLC’s holdings, making the stock its 25th largest position. Deepwater Asset Management LLC’s holdings in Unity Software were worth $1,537,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in Unity Software by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 26,128,209 shares of the company’s stock worth $1,068,382,000 after acquiring an additional 308,412 shares in the last quarter. ARK Investment Management LLC increased its stake in shares of Unity Software by 6.2% during the fourth quarter. ARK Investment Management LLC now owns 12,189,778 shares of the company’s stock worth $498,440,000 after acquiring an additional 712,579 shares during the period. Norges Bank acquired a new position in shares of Unity Software during the fourth quarter worth about $379,180,000. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Unity Software by 14.7% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,131,625 shares of the company’s stock worth $373,392,000 after acquiring an additional 1,170,058 shares during the period. Finally, Nikko Asset Management Americas Inc. increased its stake in shares of Unity Software by 15.9% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 8,539,489 shares of the company’s stock worth $349,094,000 after acquiring an additional 1,169,841 shares during the period. 73.46% of the stock is owned by hedge funds and other institutional investors.

Unity Software Trading Up 1.0 %

U stock traded up $0.16 on Tuesday, hitting $15.97. 2,835,012 shares of the company were exchanged, compared to its average volume of 9,559,884. Unity Software Inc. has a twelve month low of $15.23 and a twelve month high of $50.08. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.15 and a quick ratio of 2.15. The business’s fifty day moving average is $19.96 and its two-hundred day moving average is $27.44. The stock has a market capitalization of $6.24 billion, a price-to-earnings ratio of -7.06 and a beta of 2.26.

Unity Software (NYSE:U) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.13. Unity Software had a negative net margin of 40.11% and a negative return on equity of 7.73%. The company had revenue of $460.38 million during the quarter, compared to analyst estimates of $422.53 million. As a group, research analysts forecast that Unity Software Inc. will post -1.81 earnings per share for the current year.

Insider Transactions at Unity Software

In other news, insider Marc Whitten sold 86,768 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $20.60, for a total value of $1,787,420.80. Following the completion of the transaction, the insider now directly owns 2,483 shares in the company, valued at $51,149.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Anirma Gupta sold 1,037 shares of the firm’s 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 transaction, the senior vice president now directly owns 386,706 shares in the company, valued at approximately $9,443,360.52. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Marc Whitten sold 86,768 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $20.60, for a total transaction of $1,787,420.80. Following the completion of the transaction, the insider now owns 2,483 shares in the company, valued at $51,149.80. The disclosure for this sale can be found here. Insiders sold 245,736 shares of company stock valued at $4,832,120 over the last 90 days. Corporate insiders own 6.30% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on U. Stifel Nicolaus dropped their price target on shares of Unity Software from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Monday, June 10th. Barclays decreased their price objective on shares of Unity Software from $28.00 to $27.00 and set an “equal weight” rating on the stock in a report on Friday, May 10th. Benchmark reissued a “sell” rating and set a $16.00 price objective on shares of Unity Software in a report on Friday, May 10th. Needham & Company LLC reissued a “buy” rating and set a $31.00 price objective on shares of Unity Software in a report on Friday, May 10th. Finally, The Goldman Sachs Group decreased their price objective on shares of Unity Software from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Monday, May 13th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $33.47.

Unity Software Company Profile

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.