Deepwater Asset Management LLC Buys 48,211 Shares of Unity Software Inc. (NYSE:U)

Deepwater Asset Management LLC increased its holdings in shares of Unity Software Inc. (NYSE:U) by 515.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,564 shares of the company’s stock after purchasing an additional 48,211 shares during the period. Unity Software makes up 0.6% of Deepwater Asset Management LLC’s portfolio, making the stock its 25th biggest position. Deepwater Asset Management LLC’s holdings in Unity Software were worth $1,537,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Harvest Fund Management Co. Ltd bought a new stake in Unity Software in the 4th quarter valued at approximately $27,000. GAMMA Investing LLC acquired a new position in shares of Unity Software during the 4th quarter worth approximately $28,000. Pacifica Partners Inc. acquired a new position in shares of Unity Software during the 4th quarter worth approximately $33,000. Principal Securities Inc. acquired a new position in shares of Unity Software during the 4th quarter worth approximately $37,000. Finally, Tidemark LLC acquired a new position in shares of Unity Software during the 4th quarter worth approximately $39,000. Institutional investors own 73.46% of the company’s stock.

Insider Buying and Selling

In other news, SVP Anirma Gupta sold 1,037 shares of Unity Software 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 directly owns 386,706 shares in the company, valued at $9,443,360.52. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CMO Carol W. Carpenter sold 2,000 shares of Unity Software stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $24.18, for a total transaction of $48,360.00. Following the completion of the sale, the chief marketing officer now owns 442,617 shares of the company’s stock, valued at $10,702,479.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Anirma Gupta sold 1,037 shares of Unity Software stock in a transaction 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 sale, the senior vice president now directly owns 386,706 shares of the company’s stock, valued at approximately $9,443,360.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 245,736 shares of company stock worth $4,832,120. 6.30% of the stock is owned by company insiders.

Unity Software Stock Up 1.0 %

NYSE:U traded up $0.16 on Tuesday, hitting $15.97. The stock had a trading volume of 2,835,012 shares, compared to its average volume of 9,559,884. The business’s fifty day moving average is $19.96 and its 200 day moving average is $27.44. The company has a market cap of $6.24 billion, a PE ratio of -7.06 and a beta of 2.26. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.70. Unity Software Inc. has a 52 week low of $15.23 and a 52 week high of $50.08.

Unity Software (NYSE:U) last posted its earnings results on Thursday, May 9th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.13. Unity Software had a negative return on equity of 7.73% and a negative net margin of 40.11%. The company had revenue of $460.38 million for the quarter, compared to analyst estimates of $422.53 million. On average, equities research analysts expect that Unity Software Inc. will post -1.81 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on U shares. The Goldman Sachs Group decreased their price objective on Unity Software from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Monday, May 13th. Needham & Company LLC reaffirmed a “buy” rating and issued a $31.00 price objective on shares of Unity Software in a report on Friday, May 10th. Stifel Nicolaus cut their target price on Unity Software from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, June 10th. Wedbush reiterated an “outperform” rating and set a $33.50 target price on shares of Unity Software in a research report on Friday, May 10th. Finally, Barclays cut their target price on Unity Software from $28.00 to $27.00 and set an “equal weight” rating for the company in a research report on Friday, May 10th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $33.47.

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.