Acadian Asset Management LLC Takes Position in Unity Software Inc. (NYSE:U)

Acadian Asset Management LLC purchased a new stake in shares of Unity Software Inc. (NYSE:U) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 5,130 shares of the company’s stock, valued at approximately $82,000.

Several other institutional investors have also recently made changes to their positions in U. Capital International Investors increased its stake in shares of Unity Software by 426.1% during the first quarter. Capital International Investors now owns 7,872,413 shares of the company’s stock valued at $210,193,000 after buying an additional 6,376,034 shares during the period. Capital Research Global Investors increased its stake in shares of Unity Software by 510.2% during the fourth quarter. Capital Research Global Investors now owns 7,181,661 shares of the company’s stock valued at $293,658,000 after buying an additional 6,004,655 shares during the period. Nikko Asset Management Americas Inc. increased its stake in shares of Unity Software by 32.6% during the first quarter. Nikko Asset Management Americas Inc. now owns 11,326,547 shares of the company’s stock valued at $302,419,000 after buying an additional 2,787,058 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Unity Software by 30.4% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,909,509 shares of the company’s stock valued at $317,984,000 after buying an additional 2,777,884 shares during the period. Finally, Contour Asset Management LLC increased its stake in shares of Unity Software by 77.8% during the fourth quarter. Contour Asset Management LLC now owns 4,091,289 shares of the company’s stock valued at $167,293,000 after buying an additional 1,790,326 shares during the period. Hedge funds and other institutional investors own 73.46% of the company’s stock.

Insider Activity

In other news, Director David Helgason sold 250,000 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $20.59, for a total value of $5,147,500.00. Following the sale, the director now directly owns 8,201,851 shares of the company’s stock, valued at approximately $168,876,112.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Anirma Gupta sold 1,506 shares of Unity Software stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $16.73, for a total transaction of $25,195.38. Following the completion of the transaction, the senior vice president now directly owns 409,540 shares of the company’s stock, valued at approximately $6,851,604.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director David Helgason sold 250,000 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $20.59, for a total transaction of $5,147,500.00. Following the completion of the transaction, the director now owns 8,201,851 shares of the company’s stock, valued at $168,876,112.09. The disclosure for this sale can be found here. Insiders have sold 285,472 shares of company stock valued at $5,778,479 in the last ninety days. Insiders own 6.30% of the company’s stock.

Unity Software Price Performance

Shares of NYSE U opened at $20.81 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.36 and a current ratio of 2.36. Unity Software Inc. has a fifty-two week low of $13.90 and a fifty-two week high of $43.54. The company has a market cap of $8.26 billion, a PE ratio of -9.29 and a beta of 2.25. The business has a 50-day simple moving average of $16.87 and a two-hundred day simple moving average of $20.10.

Unity Software (NYSE:U) last released its earnings results on Thursday, August 8th. The company reported ($0.32) EPS for the quarter, topping 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 firm had revenue of $449.30 million during the quarter, compared to the consensus estimate of $438.37 million. During the same quarter in the previous year, the company posted ($0.26) earnings per share. The company’s revenue was down 15.8% compared to the same quarter last year. As a group, equities analysts expect that Unity Software Inc. will post -1.86 EPS for the current fiscal year.

Analysts Set New Price Targets

U has been the topic of a number of recent research reports. The Goldman Sachs Group dropped their price objective on Unity Software from $26.00 to $22.50 and set a “neutral” rating on the stock in a research report on Friday, August 9th. Needham & Company LLC dropped their price objective on Unity Software from $31.00 to $23.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Macquarie raised their price objective on Unity Software from $12.00 to $15.00 and gave the company an “underperform” rating in a research report on Tuesday, September 17th. Wedbush raised their price objective on Unity Software from $21.00 to $27.00 and gave the company an “outperform” rating in a research report on Monday, September 16th. Finally, Piper Sandler reaffirmed 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. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $27.46.

Unity Software 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.