Primecap Management Co. CA Grows Stake in Unity Software Inc. (NYSE:U)

Primecap Management Co. CA lifted its stake in Unity Software Inc. (NYSE:U) by 13.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 758,453 shares of the company’s stock after purchasing an additional 91,726 shares during the quarter. Primecap Management Co. CA owned 0.19% of Unity Software worth $12,332,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Capital Research Global Investors lifted its position in Unity Software by 510.2% in the 4th quarter. Capital Research Global Investors now owns 7,181,661 shares of the company’s stock valued at $293,658,000 after acquiring an additional 6,004,655 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Unity Software by 26.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 35,336 shares of the company’s stock valued at $1,445,000 after purchasing an additional 7,484 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Unity Software during the first quarter valued at $3,878,000. Seldon Capital LP purchased a new stake in shares of Unity Software during the fourth quarter valued at $7,576,000. Finally, Vanguard Group Inc. increased its holdings in Unity Software by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 26,336,775 shares of the company’s stock worth $703,192,000 after buying an additional 208,566 shares in the last quarter. Institutional investors own 73.46% of the company’s stock.

Analyst Upgrades and Downgrades

U has been the topic of several research analyst reports. The Goldman Sachs Group lowered their target price on shares of Unity Software from $26.00 to $22.50 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Piper Sandler restated a “neutral” rating and set a $17.00 price objective (down previously from $25.00) on shares of Unity Software in a research report on Friday, August 9th. JMP Securities reaffirmed a “market perform” rating on shares of Unity Software in a research report on Friday, September 13th. Benchmark lowered their price target on Unity Software from $16.00 to $10.00 and set a “sell” rating on the stock in a report on Friday, August 9th. Finally, Macquarie lifted their price objective on Unity Software from $12.00 to $15.00 and gave the stock an “underperform” rating in a report on Tuesday. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $27.46.

Insider Transactions at Unity Software

In other Unity Software news, SVP Anirma Gupta sold 1,506 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $16.73, for a total transaction of $25,195.38. Following the sale, the senior vice president now directly owns 409,540 shares of the company’s stock, valued at $6,851,604.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, SVP Felix The sold 30,000 shares of Unity Software stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $17.89, for a total transaction of $536,700.00. Following the sale, the senior vice president now owns 423,679 shares in the company, valued at $7,579,617.31. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Anirma Gupta sold 1,506 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $16.73, for a total transaction of $25,195.38. Following the transaction, the senior vice president now owns 409,540 shares of the company’s stock, valued at approximately $6,851,604.20. The disclosure for this sale can be found here. Insiders sold a total of 285,472 shares of company stock valued at $5,778,479 over the last three months. Corporate insiders own 6.30% of the company’s stock.

Unity Software Stock Performance

NYSE:U opened at $20.23 on Thursday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.36 and a current ratio of 2.36. The stock has a 50-day simple moving average of $16.72 and a two-hundred day simple moving average of $20.14. The firm has a market capitalization of $8.03 billion, a PE ratio of -9.03 and a beta of 2.25. Unity Software Inc. has a 52-week low of $13.90 and a 52-week high of $43.54.

Unity Software (NYSE:U) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.12. Unity Software had a negative return on equity of 8.78% and a negative net margin of 38.52%. The company had revenue of $449.30 million during the quarter, compared to the consensus estimate of $438.37 million. During the same period in the previous year, the company posted ($0.26) EPS. The firm’s revenue was down 15.8% on a year-over-year basis. Analysts forecast that Unity Software Inc. will post -1.86 EPS for the current year.

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.