Harvest Fund Management Co. Ltd Takes Position in Unity Software Inc. (NYSE:U)

Harvest Fund Management Co. Ltd acquired a new stake in Unity Software Inc. (NYSE:U) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 666 shares of the company’s stock, valued at approximately $27,000.

A number of other hedge funds have also made changes to their positions in U. Huntington National Bank boosted its position in shares of Unity Software by 665.0% in the 3rd quarter. Huntington National Bank now owns 895 shares of the company’s stock valued at $28,000 after purchasing an additional 778 shares during the period. GAMMA Investing LLC acquired a new stake in shares of Unity Software in the 4th quarter valued at about $28,000. Pacifica Partners Inc. acquired a new stake in shares of Unity Software in the 4th quarter valued at about $33,000. Psagot Value Holdings Ltd. Israel acquired a new stake in shares of Unity Software in the 3rd quarter valued at about $48,000. Finally, Global Retirement Partners LLC boosted its position in shares of Unity Software by 112.1% in the 3rd quarter. Global Retirement Partners LLC now owns 1,752 shares of the company’s stock valued at $52,000 after purchasing an additional 926 shares during the period. Hedge funds and other institutional investors own 73.46% of the company’s stock.

Unity Software Price Performance

Shares of U stock opened at $24.13 on Friday. The stock has a 50 day simple moving average of $26.81 and a 200-day simple moving average of $30.41. Unity Software Inc. has a 12-month low of $22.20 and a 12-month high of $50.08. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.60 and a quick ratio of 2.60.

Unity Software (NYSE:U) last issued its earnings results on Monday, February 26th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.89). Unity Software had a negative return on equity of 10.14% and a negative net margin of 37.64%. The business had revenue of $609.27 million for the quarter, compared to analysts’ expectations of $551.01 million. During the same period last year, the company posted ($0.50) earnings per share. The business’s quarterly revenue was up 35.1% on a year-over-year basis. Equities research analysts expect that Unity Software Inc. will post -0.63 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Stifel Nicolaus upped their target price on Unity Software from $32.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Barclays decreased their price objective on Unity Software from $30.00 to $28.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 27th. Wedbush decreased their price objective on Unity Software from $50.00 to $33.50 and set an “outperform” rating for the company in a research report on Tuesday, February 27th. William Blair reaffirmed an “outperform” rating on shares of Unity Software in a research report on Tuesday, January 9th. Finally, The Goldman Sachs Group increased their price objective on Unity Software from $29.00 to $32.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $37.03.

Insider Activity at Unity Software

In related news, SVP Anirma Gupta sold 756 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $33.07, for a total value of $25,000.92. Following the completion of the transaction, the senior vice president now directly owns 396,985 shares of the company’s stock, valued at approximately $13,128,293.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Unity Software news, CEO James M. Whitehurst sold 44,091 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $32.56, for a total transaction 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 $5,076,397.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Anirma Gupta sold 756 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $33.07, for a total value of $25,000.92. Following the transaction, the senior vice president now directly owns 396,985 shares of the company’s stock, valued at approximately $13,128,293.95. The disclosure for this sale can be found here. Insiders sold 341,723 shares of company stock valued at $9,577,516 in the last ninety days. Corporate insiders own 9.00% of the company’s stock.

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.