39,400 Shares in Unity Software Inc. (NYSE:U) Purchased by Polymer Capital Management HK LTD

Polymer Capital Management HK LTD purchased a new position in Unity Software Inc. (NYSE:U) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 39,400 shares of the company’s stock, valued at approximately $885,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Federated Hermes Inc. grew its position in shares of Unity Software by 557.8% during the fourth quarter. Federated Hermes Inc. now owns 10,617 shares of the company’s stock valued at $239,000 after purchasing an additional 9,003 shares in the last quarter. Resona Asset Management Co. Ltd. purchased a new position in Unity Software during the 4th quarter valued at approximately $122,000. Geode Capital Management LLC increased its stake in Unity Software by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 4,769,609 shares of the company’s stock worth $107,208,000 after acquiring an additional 84,480 shares during the last quarter. Alliancebernstein L.P. raised its holdings in shares of Unity Software by 541.3% during the 4th quarter. Alliancebernstein L.P. now owns 799,817 shares of the company’s stock worth $17,972,000 after acquiring an additional 675,099 shares in the last quarter. Finally, DnB Asset Management AS bought a new position in shares of Unity Software during the 4th quarter valued at approximately $464,000. 73.46% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Needham & Company LLC boosted their price target on shares of Unity Software from $26.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. UBS Group upped their target price on shares of Unity Software from $21.00 to $23.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Macquarie began coverage on Unity Software in a research report on Monday, March 10th. They issued a “neutral” rating and a $24.00 price target for the company. Benchmark upgraded Unity Software from a “sell” rating to a “hold” rating in a research report on Thursday, February 20th. Finally, Wells Fargo & Company dropped their target price on Unity Software from $27.00 to $22.00 and set an “equal weight” rating for the company in a report on Monday, March 10th. Ten investment analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $25.32.

Insiders Place Their Bets

In other Unity Software news, COO Alexander Blum sold 1,479 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $25.26, for a total value of $37,359.54. Following the completion of the transaction, the chief operating officer now directly owns 495,648 shares in the company, valued at approximately $12,520,068.48. The trade was a 0.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Mark Barrysmith sold 1,362 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $21.91, for a total transaction of $29,841.42. Following the sale, the chief accounting officer now directly owns 452,276 shares of the company’s stock, valued at approximately $9,909,367.16. The trade was a 0.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 781,903 shares of company stock worth $17,934,432. 6.30% of the stock is currently owned by company insiders.

Unity Software Stock Down 6.8 %

Shares of U opened at $16.95 on Monday. The firm has a fifty day moving average price of $22.25 and a 200-day moving average price of $22.29. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $6.94 billion, a P/E ratio of -10.09 and a beta of 2.31. Unity Software Inc. has a 12-month low of $13.90 and a 12-month high of $30.88.

Unity Software (NYSE:U) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.05. The company had revenue of $457.10 million during the quarter, compared to analysts’ expectations of $433.47 million. Unity Software had a negative net margin of 36.63% and a negative return on equity of 13.40%. Equities research analysts expect that Unity Software Inc. will post -1.25 earnings per share for the current 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.