Greenland Capital Management LP Purchases New Shares in Unity Software Inc. $U

Greenland Capital Management LP acquired a new stake in Unity Software Inc. (NYSE:U) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 19,892 shares of the company’s stock, valued at approximately $569,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of U. Atreides Management LP bought a new stake in shares of Unity Software during the second quarter worth $292,826,000. Wellington Management Group LLP raised its holdings in shares of Unity Software by 58.7% in the third quarter. Wellington Management Group LLP now owns 18,213,875 shares of the company’s stock valued at $729,284,000 after buying an additional 6,734,285 shares during the last quarter. Norges Bank bought a new position in shares of Unity Software in the fourth quarter valued at about $230,285,000. Resolute Advisors LLC lifted its position in Unity Software by 473.3% during the 2nd quarter. Resolute Advisors LLC now owns 4,766,219 shares of the company’s stock worth $136,219,000 after buying an additional 3,934,840 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in Unity Software during the 1st quarter worth about $54,534,000. Institutional investors and hedge funds own 73.46% of the company’s stock.

Unity Software Stock Performance

Shares of NYSE:U opened at $41.63 on Tuesday. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.55. Unity Software Inc. has a 1-year low of $16.78 and a 1-year high of $52.15. The stock has a market capitalization of $18.32 billion, a P/E ratio of -30.61, a P/E/G ratio of 1.82 and a beta of 2.06. The business has a 50-day moving average price of $36.85 and a two-hundred day moving average price of $28.61.

Unity Software (NYSE:U) last issued its earnings results on Thursday, August 6th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.39. Unity Software had a negative net margin of 28.97% and a positive return on equity of 4.64%. The company had revenue of $546.47 million for the quarter, compared to analyst estimates of $514.72 million. During the same quarter last year, the firm earned $0.18 EPS. The company’s revenue for the quarter was up 24.0% on a year-over-year basis. Equities analysts predict that Unity Software Inc. will post 0.55 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. UBS Group restated an “outperform” rating on shares of Unity Software in a research report on Friday, August 7th. Citigroup upped their target price on shares of Unity Software from $40.00 to $48.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. HSBC raised shares of Unity Software from a “hold” rating to a “buy” rating and set a $47.10 price target on the stock in a research note on Friday, August 7th. Oppenheimer boosted their price objective on shares of Unity Software from $38.00 to $47.00 and gave the stock an “outperform” rating in a research report on Friday, August 7th. Finally, Needham & Company LLC boosted their price objective on shares of Unity Software from $40.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $45.16.

Insider Buying and Selling

In related news, COO Alexander Blum sold 43,556 shares of the stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $43.51, for a total value of $1,895,121.56. Following the sale, the chief operating officer directly owned 661,855 shares in the company, valued at $28,797,311.05. This trade represents a 6.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Rebecca Boyden sold 1,032 shares of Unity Software stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $45.32, for a total transaction of $46,770.24. Following the transaction, the senior vice president directly owned 308,413 shares in the company, valued at $13,977,277.16. The trade was a 0.33% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 109,547 shares of company stock valued at $4,884,202 over the last 90 days. 0.77% of the stock is owned by corporate insiders.

Unity Software Profile

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.