Los Angeles Capital Management LLC Acquires Shares of 108,031 Unity Software Inc. (NYSE:U)

Los Angeles Capital Management LLC bought a new position in Unity Software Inc. (NYSE:U) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 108,031 shares of the company’s stock, valued at approximately $4,417,000.

A number of other institutional investors have also modified their holdings of U. Harvest Fund Management Co. Ltd acquired a new position in shares of Unity Software in the 4th quarter valued at about $27,000. GAMMA Investing LLC acquired a new position in Unity Software in the fourth quarter valued at approximately $28,000. Pacifica Partners Inc. bought a new position in shares of Unity Software during the fourth quarter valued at approximately $33,000. Huntington National Bank raised its position in shares of Unity Software by 665.0% during the 3rd quarter. Huntington National Bank now owns 895 shares of the company’s stock worth $28,000 after purchasing an additional 778 shares during the period. Finally, Psagot Value Holdings Ltd. Israel bought a new stake in shares of Unity Software in the 3rd quarter worth approximately $48,000. Institutional investors and hedge funds own 73.46% of the company’s stock.

Unity Software Price Performance

Shares of Unity Software stock opened at $24.74 on Monday. Unity Software Inc. has a 52 week low of $22.20 and a 52 week high of $50.08. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 0.85. The company’s 50-day moving average price is $26.08 and its two-hundred day moving average price is $30.28. The stock has a market cap of $9.55 billion, a PE ratio of -11.45 and a beta of 2.40.

Unity Software (NYSE:U) last released its earnings results on Monday, February 26th. The company reported ($0.66) EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.89). The business had revenue of $609.27 million during 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%. The firm’s revenue for the quarter was up 35.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.50) earnings per share. As a group, sell-side analysts anticipate that Unity Software Inc. will post -0.63 EPS for the current fiscal year.

Insider Activity

In related news, SVP Anirma Gupta sold 1,037 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $24.42, for a total value of $25,323.54. Following the completion of the transaction, the senior vice president now owns 386,706 shares in the company, valued at approximately $9,443,360.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, 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 value of $25,323.54. Following the completion of the transaction, the senior vice president now owns 386,706 shares of the company’s stock, valued at approximately $9,443,360.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Carol W. Carpenter sold 2,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $24.18, for a total transaction of $48,360.00. Following the sale, the chief marketing officer now directly owns 442,617 shares in the company, valued at $10,702,479.06. The disclosure for this sale can be found here. In the last 90 days, insiders sold 338,917 shares of company stock worth $9,460,820. Insiders own 6.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on U shares. Piper Sandler raised Unity Software from an “underweight” rating to a “neutral” rating and dropped their target price for the stock from $35.00 to $30.00 in a research report on Tuesday, February 27th. Needham & Company LLC cut their price objective on shares of Unity Software from $40.00 to $31.00 and set a “buy” rating on the stock in a research report on Tuesday, February 27th. William Blair restated an “outperform” rating on shares of Unity Software in a research report on Tuesday, January 9th. Macquarie lowered shares of Unity Software from a “neutral” rating to an “underperform” rating and set a $20.00 price target on the stock. in a research note on Monday, February 12th. Finally, Stifel Nicolaus boosted their price objective on Unity Software from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $37.03.

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.