Parametrica Management Ltd Makes New Investment in Unity Software Inc. (NYSE:U)

Parametrica Management Ltd purchased a new position in shares of Unity Software Inc. (NYSE:U) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 27,859 shares of the company’s stock, valued at approximately $1,139,000. Unity Software makes up about 1.9% of Parametrica Management Ltd’s holdings, making the stock its 17th biggest position.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Eagle Asset Management Inc. acquired a new position in shares of Unity Software during the 3rd quarter worth about $82,988,000. Vanguard Group Inc. grew its stake in Unity Software by 8.3% in the 3rd quarter. Vanguard Group Inc. now owns 25,819,797 shares of the company’s stock valued at $810,483,000 after buying an additional 1,972,435 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Unity Software by 14.7% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,131,625 shares of the company’s stock valued at $373,392,000 after buying an additional 1,170,058 shares during the last quarter. Qube Research & Technologies Ltd acquired a new position in Unity Software in the 3rd quarter valued at about $36,257,000. Finally, Artisan Partners Limited Partnership grew its stake in Unity Software by 69.7% in the 3rd quarter. Artisan Partners Limited Partnership now owns 2,431,829 shares of the company’s stock valued at $76,335,000 after buying an additional 998,467 shares during the last quarter. 73.46% of the stock is owned by institutional investors.

Insider Activity at Unity Software

In related news, CEO James M. Whitehurst sold 44,091 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $32.56, for a total value of $1,435,602.96. Following the completion of the transaction, the chief executive officer now owns 155,909 shares of the company’s stock, valued at approximately $5,076,397.04. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Unity Software news, CEO James M. Whitehurst sold 44,091 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $32.56, for a total value of $1,435,602.96. Following the completion of the transaction, the chief executive officer now directly owns 155,909 shares in the company, valued at approximately $5,076,397.04. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CMO Carol W. Carpenter sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $26.58, for a total transaction of $53,160.00. Following the completion of the transaction, the chief marketing officer now owns 444,617 shares of the company’s stock, valued at $11,817,919.86. The disclosure for this sale can be found here. Insiders sold a total of 341,723 shares of company stock valued at $9,577,516 in the last quarter. Insiders own 9.00% of the company’s stock.

Unity Software Stock Up 3.5 %

Shares of Unity Software stock traded up $0.81 on Friday, reaching $24.13. 6,675,707 shares of the stock were exchanged, compared to its average volume of 5,617,475. The firm’s 50 day moving average is $26.81 and its 200-day moving average is $30.41. Unity Software Inc. has a one year low of $22.20 and a one year high of $50.08. The company has a debt-to-equity ratio of 0.85, a quick ratio of 2.60 and a current ratio of 2.60.

Unity Software (NYSE:U) last issued its quarterly earnings data on Monday, February 26th. The company reported ($0.66) EPS for the quarter, missing the consensus estimate of $0.23 by ($0.89). The company had revenue of $609.27 million during the quarter, compared to the consensus estimate of $551.01 million. Unity Software had a negative net margin of 37.64% and a negative return on equity of 10.14%. Unity Software’s revenue for the quarter was up 35.1% on a year-over-year basis. During the same period in the previous year, the company earned ($0.50) EPS. On average, sell-side analysts forecast that Unity Software Inc. will post -0.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Wedbush decreased their price target on shares of Unity Software from $50.00 to $33.50 and set an “outperform” rating on the stock in a research note on Tuesday, February 27th. Piper Sandler raised shares of Unity Software from an “underweight” rating to a “neutral” rating and cut their price objective for the company from $35.00 to $30.00 in a report on Tuesday, February 27th. Macquarie downgraded shares of Unity Software from a “neutral” rating to an “underperform” rating and set a $20.00 price objective for the company. in a report on Monday, February 12th. Barclays cut their price objective on shares of Unity Software from $30.00 to $28.00 and set an “equal weight” rating for the company in a report on Tuesday, February 27th. Finally, Needham & Company LLC cut their price objective on shares of Unity Software from $40.00 to $31.00 and set a “buy” rating for the company in a report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $37.03.

Unity Software Company Profile

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.