Kettle Hill Capital Management LLC Reduces Stock Position in Unity Software Inc. $U

Kettle Hill Capital Management LLC cut its holdings in Unity Software Inc. (NYSE:U) by 61.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 234,471 shares of the company’s stock after selling 379,672 shares during the quarter. Unity Software makes up approximately 2.1% of Kettle Hill Capital Management LLC’s holdings, making the stock its 21st largest holding. Kettle Hill Capital Management LLC’s holdings in Unity Software were worth $9,388,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of U. Root Financial Partners LLC purchased a new stake in Unity Software in the 3rd quarter worth approximately $27,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Unity Software in the 3rd quarter worth approximately $38,000. Salem Investment Counselors Inc. purchased a new position in shares of Unity Software during the third quarter valued at approximately $40,000. Allworth Financial LP increased its stake in shares of Unity Software by 28.4% during the second quarter. Allworth Financial LP now owns 1,865 shares of the company’s stock valued at $45,000 after buying an additional 412 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Unity Software by 81.5% during the third quarter. EverSource Wealth Advisors LLC now owns 1,187 shares of the company’s stock valued at $48,000 after acquiring an additional 533 shares in the last quarter. Hedge funds and other institutional investors own 73.46% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Benchmark reiterated a “hold” rating on shares of Unity Software in a report on Monday, February 2nd. Barclays decreased their price objective on shares of Unity Software from $35.00 to $28.00 and set an “equal weight” rating for the company in a report on Thursday, February 12th. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 target price on shares of Unity Software in a research report on Wednesday, February 11th. Wedbush reiterated an “outperform” rating and set a $30.00 price target on shares of Unity Software in a research report on Friday. Finally, Jefferies Financial Group increased their price target on shares of Unity Software from $49.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $39.73.

Insider Activity at Unity Software

In related news, COO Alexander Blum sold 10,164 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $18.07, for a total value of $183,663.48. Following the sale, the chief operating officer owned 550,966 shares in the company, valued at $9,955,955.62. This represents a 1.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Jarrod Yahes sold 12,196 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $18.07, for a total value of $220,381.72. Following the transaction, the chief financial officer directly owned 533,933 shares of the company’s stock, valued at approximately $9,648,169.31. This trade represents a 2.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 41,684 shares of company stock valued at $773,350 in the last three months. Company insiders own 3.61% of the company’s stock.

Unity Software Price Performance

Shares of U stock opened at $19.42 on Monday. The business’s fifty day moving average is $29.51 and its 200 day moving average is $37.29. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.52. 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. Unity Software Inc. has a twelve month low of $15.33 and a twelve month high of $52.15.

Unity Software (NYSE:U) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.20 by $0.04. Unity Software had a negative return on equity of 4.76% and a negative net margin of 21.77%.The business had revenue of $503.09 million during the quarter, compared to analyst estimates of $490.64 million. During the same quarter last year, the firm posted ($0.30) earnings per share. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. Research analysts expect that Unity Software Inc. will post -1.25 EPS 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.