Hidden Lake Asset Management LP Buys New Position in Unity Software Inc. $U

Hidden Lake Asset Management LP bought a new stake in shares of Unity Software Inc. (NYSE:U) in the third quarter, Holdings Channel.com reports. The fund bought 93,863 shares of the company’s stock, valued at approximately $3,758,000. Unity Software accounts for 0.5% of Hidden Lake Asset Management LP’s investment portfolio, making the stock its 29th biggest position.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Root Financial Partners LLC bought a new stake in shares of Unity Software in the 3rd quarter valued at $27,000. Aster Capital Management DIFC Ltd acquired a new position in Unity Software in the third quarter valued at $38,000. Salem Investment Counselors Inc. bought a new stake in Unity Software during the third quarter valued at $40,000. Allworth Financial LP grew its holdings in 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 acquiring an additional 412 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in Unity Software by 81.5% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,187 shares of the company’s stock worth $48,000 after acquiring an additional 533 shares during the period. Institutional investors and hedge funds own 73.46% of the company’s stock.

Insider Buying and Selling at Unity Software

In other Unity Software news, CAO Mark Barrysmith sold 10,578 shares of Unity Software stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $18.07, for a total transaction of $191,144.46. Following the transaction, the chief accounting officer directly owned 383,901 shares of the company’s stock, valued at $6,937,091.07. The trade was a 2.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Alexander Blum sold 10,164 shares of the stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $18.07, for a total transaction of $183,663.48. Following the completion of the sale, the chief operating officer owned 550,966 shares of the company’s stock, valued at approximately $9,955,955.62. This represents a 1.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 41,684 shares of company stock worth $773,350. Corporate insiders own 3.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on U. Citigroup dropped their price objective on Unity Software from $52.00 to $43.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. Citizens Jmp lowered their target price on Unity Software from $50.00 to $37.00 and set a “market outperform” rating for the company in a report on Thursday, February 12th. UBS Group dropped their price target on Unity Software from $46.00 to $32.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 10th. Jefferies Financial Group increased their price target on Unity Software from $49.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, January 5th. Finally, Morgan Stanley raised their price objective on shares of Unity Software from $48.00 to $52.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 13th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $39.73.

Unity Software Price Performance

Shares of NYSE U opened at $19.42 on Monday. The stock has a market cap of $8.41 billion, a price-to-earnings ratio of -20.23, a PEG ratio of 10.42 and a beta of 2.15. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.84 and a current ratio of 1.84. Unity Software Inc. has a fifty-two week low of $15.33 and a fifty-two week high of $52.15. The firm’s 50-day simple moving average is $29.51 and its 200 day simple moving average is $37.29.

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

Unity Software Company 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.