Rip Road Capital Partners LP Acquires New Position in Unity Software Inc. (NYSE:U)

Rip Road Capital Partners LP bought a new position in Unity Software Inc. (NYSE:U) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 100,000 shares of the company’s stock, valued at approximately $2,247,000. Unity Software comprises approximately 1.9% of Rip Road Capital Partners LP’s holdings, making the stock its 17th largest holding.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Anderson Financial Strategies LLC purchased a new stake in shares of Unity Software during the 4th quarter valued at about $28,000. R Squared Ltd purchased a new stake in Unity Software during the 4th quarter valued at $30,000. Principal Securities Inc. lifted its holdings in shares of Unity Software by 50.5% during the 4th quarter. Principal Securities Inc. now owns 1,422 shares of the company’s stock valued at $32,000 after buying an additional 477 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Unity Software by 33.6% during the 4th quarter. GAMMA Investing LLC now owns 1,636 shares of the company’s stock valued at $37,000 after buying an additional 411 shares during the period. Finally, Whipplewood Advisors LLC purchased a new position in shares of Unity Software in the 4th quarter worth $40,000. Institutional investors own 73.46% of the company’s stock.

Unity Software Price Performance

NYSE U opened at $21.50 on Thursday. The stock’s fifty day moving average price is $20.49 and its 200 day moving average price is $22.02. Unity Software Inc. has a 1 year low of $13.90 and a 1 year high of $30.88. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.41 and a quick ratio of 2.41. 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 released its earnings results on Wednesday, May 7th. The company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $435.00 million during the quarter, compared to the consensus estimate of $415.77 million. During the same quarter in the previous year, the company posted $0.28 earnings per share. The company’s revenue was down 5.5% compared to the same quarter last year. As a group, equities research analysts forecast that Unity Software Inc. will post -1.25 earnings per share for the current year.

Insider Activity

In other Unity Software news, CAO Mark Barrysmith sold 1,395 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $21.68, for a total value of $30,243.60. Following the completion of the transaction, the chief accounting officer now directly owns 450,881 shares of the company’s stock, valued at approximately $9,775,100.08. The trade was a 0.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Tomer Bar-Zeev sold 236,337 shares of the firm’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 transaction of $5,653,181.04. Following the sale, the director now directly owns 3,161,809 shares in the company, valued at $75,630,471.28. The trade was a 6.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 782,231 shares of company stock valued at $18,033,528 in the last ninety days. Insiders own 6.30% of the company’s stock.

Wall Street Analysts Forecast Growth

U has been the topic of several research reports. HSBC raised Unity Software from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a research report on Friday, February 21st. Benchmark raised Unity Software from a “sell” rating to a “hold” rating in a report on Thursday, February 20th. UBS Group decreased their price target on Unity Software from $30.00 to $22.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Citizens Jmp upgraded shares of Unity Software from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 11th. Finally, Jefferies Financial Group reduced their target price on Unity Software from $24.00 to $16.00 and set a “hold” rating on the stock in a research note on Monday, April 7th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $24.21.

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.