Cambria Investment Management L.P. Trims Stock Position in Unity Software Inc. $U

Cambria Investment Management L.P. trimmed its holdings in Unity Software Inc. (NYSE:U) by 62.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 30,067 shares of the company’s stock after selling 50,451 shares during the period. Cambria Investment Management L.P.’s holdings in Unity Software were worth $1,204,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Root Financial Partners LLC purchased a new position in shares of Unity Software during the 3rd quarter worth about $27,000. Atlantic Union Bankshares Corp purchased a new position in Unity Software during the second quarter worth approximately $28,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Unity Software in the 3rd quarter valued at $38,000. Salem Investment Counselors Inc. purchased a new stake in shares of Unity Software during the 3rd quarter valued at $40,000. Finally, Allworth Financial LP increased its holdings in shares of Unity Software by 28.4% during the 2nd quarter. Allworth Financial LP now owns 1,865 shares of the company’s stock worth $45,000 after buying an additional 412 shares during the last quarter. Institutional investors and hedge funds own 73.46% of the company’s stock.

Insider Transactions at Unity Software

In related news, COO Alexander Blum sold 2,541 shares of Unity Software stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $18.76, for a total value of $47,669.16. Following the sale, the chief operating officer directly owned 548,425 shares in the company, valued at $10,288,453. This trade represents a 0.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David Helgason sold 393,312 shares of Unity Software stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $49.64, for a total value of $19,524,007.68. Following the sale, the director directly owned 5,439,173 shares in the company, valued at approximately $270,000,547.72. This trade represents a 6.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 933,233 shares of company stock valued at $45,387,419 over the last three months. 3.61% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on U. Wall Street Zen cut Unity Software from a “buy” rating to a “hold” rating in a report on Saturday, February 21st. BTIG Research reduced their price objective on Unity Software from $60.00 to $41.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. Jefferies Financial Group increased their target price on shares of Unity Software from $49.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, January 5th. Macquarie Infrastructure raised shares of Unity Software from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $33.00 to $50.00 in a research report on Friday, November 7th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $50.00 price objective on shares of Unity Software in a research report on Wednesday, February 11th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $39.73.

Unity Software Stock Performance

Unity Software stock opened at $20.31 on Thursday. Unity Software Inc. has a 52 week low of $15.33 and a 52 week high of $52.15. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.52. The stock has a market cap of $8.79 billion, a P/E ratio of -21.16, a price-to-earnings-growth ratio of 10.74 and a beta of 2.14. The stock has a 50 day moving average of $32.95 and a 200-day moving average of $38.19.

Unity Software (NYSE:U) last issued its quarterly earnings results on Wednesday, February 11th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.20 by $0.04. Unity Software had a negative net margin of 21.77% and a negative return on equity of 4.76%. The business had revenue of $503.09 million for the quarter, compared to analysts’ expectations of $490.64 million. During the same quarter last year, the company posted ($0.30) earnings per share. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. On average, analysts expect that Unity Software Inc. will post -1.25 EPS for the current fiscal year.

About Unity Software

Unity Software is a leading provider of a real-time 3D development platform that enables creators across industries to design, build and operate interactive, real-time experiences. Originally focused on the game development market, Unity’s technology now extends into sectors such as film, automotive, architecture, engineering and construction, delivering immersive content for mobile, desktop, console, augmented reality and virtual reality devices. The company’s core offering comprises a suite of authoring tools, runtime engines and cloud services that streamline the creation and deployment of interactive 3D applications.

The Unity Editor serves as the central hub where developers design scenes, script behavior and iterate on assets.