Malaga Cove Capital LLC Makes New $266,000 Investment in Unity Software Inc. (NYSE:U)

Malaga Cove Capital LLC purchased a new position in shares of Unity Software Inc. (NYSE:U) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 11,826 shares of the company’s stock, valued at approximately $266,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in U. Man Group plc acquired a new stake in shares of Unity Software during the 4th quarter valued at about $14,648,000. Nissay Asset Management Corp Japan ADV grew its position in shares of Unity Software by 11.0% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 33,804 shares of the company’s stock valued at $772,000 after acquiring an additional 3,340 shares during the period. Nuveen Asset Management LLC grew its position in shares of Unity Software by 24.0% during the 4th quarter. Nuveen Asset Management LLC now owns 1,026,810 shares of the company’s stock valued at $23,072,000 after acquiring an additional 198,515 shares during the period. Janus Henderson Group PLC grew its position in shares of Unity Software by 7.3% during the 4th quarter. Janus Henderson Group PLC now owns 127,649 shares of the company’s stock valued at $2,870,000 after acquiring an additional 8,649 shares during the period. Finally, Graham Capital Management L.P. acquired a new stake in shares of Unity Software during the 4th quarter valued at about $1,505,000. 73.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

U has been the topic of a number of research analyst reports. Needham & Company LLC lowered their price target on Unity Software from $33.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th. Hsbc Global Res raised Unity Software to a “strong-buy” rating in a research note on Friday, February 21st. HSBC raised Unity Software from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research note on Friday, February 21st. JMP Securities reaffirmed a “market perform” rating on shares of Unity Software in a research note on Monday, February 3rd. Finally, Citigroup upgraded Unity Software from a “neutral” rating to a “buy” rating and set a $30.00 price objective on the stock in a research report on Tuesday, March 11th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $24.21.

Insiders Place Their Bets

In other Unity Software news, Director Tomer Bar-Zeev sold 236,337 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $23.92, for a total value of $5,653,181.04. Following the completion of the sale, the director now owns 3,161,809 shares in the company, valued at approximately $75,630,471.28. The trade was a 6.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Anirma Gupta sold 31,948 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $25.23, for a total transaction of $806,048.04. Following the transaction, the senior vice president now owns 542,942 shares in the company, valued at approximately $13,698,426.66. This trade represents a 5.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 782,231 shares of company stock valued at $18,033,528. 6.30% of the stock is owned by corporate insiders.

Unity Software Price Performance

Shares of NYSE U opened at $21.50 on Thursday. The stock’s 50-day moving average is $20.49 and its two-hundred day moving average is $22.02. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.41 and a quick ratio of 2.41. Unity Software Inc. has a 1-year low of $13.90 and a 1-year high of $30.88. The company has a market cap of $8.94 billion, a price-to-earnings ratio of -12.80 and a beta of 2.29.

Unity Software (NYSE:U) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.38) by $0.19. Unity Software had a negative return on equity of 13.40% and a negative net margin of 36.63%. The company had revenue of $435.00 million for the quarter, compared to the consensus estimate of $415.77 million. During the same quarter in the prior year, the business earned $0.28 EPS. Unity Software’s revenue was down 5.5% on a year-over-year basis. Analysts forecast that Unity Software Inc. will post -1.25 EPS 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.