324,395 Shares in Unity Software Inc. $U Bought by Metavasi Capital LP

Metavasi Capital LP acquired a new stake in shares of Unity Software Inc. (NYSE:U) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 324,395 shares of the company’s stock, valued at approximately $7,850,000. Unity Software makes up approximately 3.2% of Metavasi Capital LP’s investment portfolio, making the stock its 14th biggest holding. Metavasi Capital LP owned about 0.08% of Unity Software as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in U. CX Institutional bought a new stake in shares of Unity Software in the 2nd quarter valued at about $25,000. Atlantic Union Bankshares Corp purchased a new stake in Unity Software during the second quarter valued at approximately $28,000. Banque Transatlantique SA acquired a new stake in Unity Software in the first quarter valued at approximately $28,000. Allworth Financial LP grew its holdings in Unity Software by 28.4% in the second quarter. Allworth Financial LP now owns 1,865 shares of the company’s stock worth $45,000 after purchasing an additional 412 shares during the last quarter. Finally, Assetmark Inc. purchased a new position in Unity Software in the second quarter worth $97,000. 73.46% of the stock is currently owned by institutional investors.

Insider Activity at Unity Software

In other Unity Software news, Director Shlomo Dovrat sold 30,000 shares of the company’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $42.87, for a total value of $1,286,100.00. Following the sale, the director directly owned 159,089 shares of the company’s stock, valued at approximately $6,820,145.43. This represents a 15.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jarrod Yahes sold 34,719 shares of the stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $41.38, for a total value of $1,436,672.22. Following the sale, the chief financial officer directly owned 573,871 shares in the company, valued at $23,746,781.98. This represents a 5.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,156,658 shares of company stock valued at $47,498,475 over the last ninety days. Corporate insiders own 3.61% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on U. Piper Sandler upgraded Unity Software from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $43.00 to $59.00 in a report on Thursday. UBS Group upped their target price on Unity Software from $35.00 to $40.00 and gave the company a “neutral” rating in a research report on Monday, October 20th. Needham & Company LLC raised their price target on Unity Software from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Citigroup boosted their price target on Unity Software from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Tuesday, November 11th. Finally, Wells Fargo & Company raised shares of Unity Software from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $42.00 to $51.00 in a research report on Friday, December 5th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $43.04.

Unity Software Trading Up 0.7%

Unity Software stock opened at $49.30 on Friday. The stock has a 50-day moving average price of $39.73 and a 200 day moving average price of $35.64. The company has a market capitalization of $21.10 billion, a price-to-earnings ratio of -46.95 and a beta of 2.04. Unity Software Inc. has a 52 week low of $15.33 and a 52 week high of $52.15. The company has a quick ratio of 2.78, a current ratio of 2.78 and a debt-to-equity ratio of 0.70.

Unity Software (NYSE:U) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03. The company had revenue of $470.62 million during the quarter, compared to analyst estimates of $452.87 million. Unity Software had a negative net margin of 24.15% and a negative return on equity of 9.45%. Unity Software’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period last year, the firm posted ($0.31) EPS. Sell-side analysts anticipate that Unity Software Inc. will post -1.25 EPS for the current year.

Unity Software 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.