Jupiter Topco LLC Invests $4.31 Million in Unity Software Inc. $U

Jupiter Topco LLC acquired a new stake in shares of Unity Software Inc. (NYSE:U) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 150,782 shares of the company’s stock, valued at approximately $4,307,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Renaissance Technologies LLC bought a new position in Unity Software in the first quarter valued at approximately $54,534,000. Entropy Technologies LP bought a new stake in shares of Unity Software during the first quarter worth $1,985,000. Nano Cap New Millennium Growth Fund L P bought a new stake in shares of Unity Software during the fourth quarter worth $3,710,000. GSA Capital Partners LLP bought a new stake in shares of Unity Software during the second quarter worth $1,370,000. Finally, Norges Bank acquired a new stake in shares of Unity Software during the fourth quarter worth $230,285,000. 73.46% of the stock is currently owned by institutional investors and hedge funds.

Unity Software Price Performance

NYSE U opened at $40.89 on Wednesday. The firm’s 50 day moving average is $35.74 and its 200-day moving average is $27.97. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $18.00 billion, a PE ratio of -30.07, a price-to-earnings-growth ratio of 1.84 and a beta of 2.05. Unity Software Inc. has a 12-month low of $16.78 and a 12-month high of $52.15.

Unity Software (NYSE:U) last announced its earnings results on Thursday, August 6th. The company reported $0.28 EPS for the quarter, topping 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 business had revenue of $546.47 million during the quarter, compared to analysts’ expectations of $514.72 million. During the same quarter in the prior year, the company posted $0.18 earnings per share. The firm’s revenue was up 24.0% on a year-over-year basis. Equities research analysts anticipate that Unity Software Inc. will post 0.55 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

U has been the topic of several research reports. Wells Fargo & Company boosted their price objective on shares of Unity Software from $36.00 to $48.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Citizens Jmp increased their target price on Unity Software from $37.00 to $45.00 and gave the stock a “market outperform” rating in a report on Friday, August 7th. Zacks Research raised Unity Software from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 13th. Deutsche Bank Aktiengesellschaft upgraded Unity Software from a “hold” rating to a “buy” rating and boosted their price target for the company from $31.00 to $50.00 in a report on Friday, August 7th. Finally, Needham & Company LLC upped their price objective on Unity Software from $40.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Unity Software currently has an average rating of “Moderate Buy” and a consensus price target of $45.16.

Insider Buying and Selling at Unity Software

In other news, CFO Jarrod Yahes sold 26,017 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $45.31, for a total value of $1,178,830.27. Following the completion of the transaction, the chief financial officer owned 678,343 shares in the company, valued at $30,735,721.33. This trade represents a 3.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Matthew S. Bromberg sold 16,383 shares of Unity Software stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $45.31, for a total value of $742,313.73. Following the completion of the sale, the chief executive officer directly owned 1,541,131 shares in the company, valued at approximately $69,828,645.61. This represents a 1.05% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 109,547 shares of company stock valued at $4,884,202. Corporate insiders own 0.77% of the company’s stock.

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.