Aquatic Capital Management LLC Takes $8.50 Million Position in Unity Software Inc. (NYSE:U)

Aquatic Capital Management LLC bought a new position in shares of Unity Software Inc. (NYSE:U) in the fourth quarter, HoldingsChannel reports. The fund bought 378,262 shares of the company’s stock, valued at approximately $8,500,000.

Other large investors have also recently bought and sold shares of the company. Ariose Capital Management Ltd purchased a new stake in shares of Unity Software during the 4th quarter worth approximately $2,299,000. Charles Schwab Investment Management Inc. lifted its position in Unity Software by 3.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,958,400 shares of the company’s stock valued at $44,005,000 after acquiring an additional 72,384 shares during the last quarter. Jessup Wealth Management Inc acquired a new position in Unity Software in the fourth quarter valued at $510,000. Vanguard Group Inc. grew its holdings in shares of Unity Software by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 31,123,035 shares of the company’s stock worth $699,335,000 after purchasing an additional 625,872 shares during the last quarter. Finally, CIBC Asset Management Inc increased its position in shares of Unity Software by 10.0% during the fourth quarter. CIBC Asset Management Inc now owns 376,794 shares of the company’s stock worth $8,467,000 after purchasing an additional 34,322 shares in the last quarter. Hedge funds and other institutional investors own 73.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on U shares. Morgan Stanley decreased their target price on Unity Software from $32.00 to $25.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Citigroup upgraded shares of Unity Software from a “neutral” rating to a “buy” rating and set a $30.00 price target for the company in a research report on Tuesday, March 11th. Macquarie started coverage on shares of Unity Software in a research report on Monday, March 10th. They set a “neutral” rating and a $24.00 price objective on the stock. HSBC upgraded shares of Unity Software from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a research note on Friday, February 21st. Finally, Wells Fargo & Company lowered their target price on Unity Software from $22.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 8th. Ten investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $23.96.

Insider Transactions at Unity Software

In other Unity Software news, COO Alexander Blum sold 1,479 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $25.26, for a total transaction of $37,359.54. Following the completion of the transaction, the chief operating officer now owns 495,648 shares of the company’s stock, valued at approximately $12,520,068.48. This trade represents a 0.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Mark Barrysmith sold 1,595 shares of the company’s stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $18.43, for a total value of $29,395.85. Following the completion of the sale, the chief accounting officer now owns 481,822 shares in the company, valued at $8,879,979.46. This represents a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 782,231 shares of company stock valued at $17,933,528 in the last 90 days. 6.30% of the stock is currently owned by insiders.

Unity Software Trading Up 0.6 %

Shares of U opened at $22.45 on Friday. The firm’s 50-day moving average is $21.53 and its two-hundred day moving average is $22.01. Unity Software Inc. has a twelve month low of $13.90 and a twelve month high of $30.88. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $9.33 billion, a P/E ratio of -13.36 and a beta of 2.31.

Unity Software (NYSE:U) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.05. The firm had revenue of $457.10 million during the quarter, compared to the consensus estimate of $433.47 million. Unity Software had a negative return on equity of 13.40% and a negative net margin of 36.63%. On average, research analysts predict that Unity Software Inc. will post -1.25 earnings per share for the current fiscal year.

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.