VCI Wealth Management LLC Makes New Investment in Unity Software Inc. $U

VCI Wealth Management LLC purchased a new stake in shares of Unity Software Inc. (NYSE:U) in the third quarter, HoldingsChannel.com reports. The firm purchased 28,231 shares of the company’s stock, valued at approximately $1,155,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Atreides Management LP purchased a new stake in Unity Software during the 2nd quarter worth $292,826,000. Resolute Advisors LLC lifted its holdings in Unity Software by 473.3% in 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. Dimensional Fund Advisors LP boosted its position in Unity Software by 52.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,245,014 shares of the company’s stock valued at $93,089,000 after buying an additional 1,465,962 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Unity Software by 9,886.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,645,007 shares of the company’s stock valued at $108,260,000 after buying an additional 2,618,522 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Unity Software in the 1st quarter valued at about $54,534,000. Hedge funds and other institutional investors own 73.46% of the company’s stock.

Unity Software Stock Up 2.9%

Shares of NYSE:U opened at $38.78 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. The company has a fifty day simple moving average of $42.40 and a 200 day simple moving average of $31.77. The firm has a market cap of $17.07 billion, a PE ratio of -28.52, a price-to-earnings-growth ratio of 1.73 and a beta of 2.11. Unity Software Inc. has a 12-month low of $16.78 and a 12-month high of $52.15.

Unity Software (NYSE:U) last posted its quarterly 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 firm had revenue of $546.47 million for the quarter, compared to analysts’ expectations of $514.72 million. During the same period in the prior year, the company posted $0.18 earnings per share. The firm’s quarterly revenue was up 24.0% on a year-over-year basis. On average, equities research analysts anticipate that Unity Software Inc. will post 0.55 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on U shares. Weiss Ratings restated a “sell (d-)” rating on shares of Unity Software in a research note on Monday. Wells Fargo & Company boosted their price target on Unity Software from $48.00 to $53.00 and gave the stock an “overweight” rating in a research note on Monday, October 12th. Needham & Company LLC increased their price target on Unity Software from $40.00 to $54.00 and gave the company a “buy” rating in a report on Friday, August 7th. Oppenheimer reissued an “outperform” rating on shares of Unity Software in a report on Thursday, October 8th. Finally, Raymond James Financial upgraded Unity Software from a “market perform” rating to an “outperform” rating and set a $54.00 price objective for the company in a research note on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $48.86.

Insider Activity at Unity Software

In other news, CFO Jarrod Yahes sold 26,017 shares of the business’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $45.31, for a total value of $1,178,830.27. Following the completion of the sale, the chief financial officer owned 678,343 shares of the company’s stock, valued at approximately $30,735,721.33. The trade was a 3.69% decrease in their position. The transaction was disclosed in a document filed 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, COO Alexander Blum sold 43,556 shares of the company’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $43.51, for a total transaction of $1,895,121.56. Following the completion of the sale, the chief operating officer owned 661,855 shares in the company, valued at approximately $28,797,311.05. This trade represents a 6.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 109,547 shares of company stock valued at $4,884,202 in the last 90 days. 0.77% of the stock is currently owned by insiders.

Unity Software Profile

Unity Software Inc develops software and services for creating, operating and monetizing interactive, real-time content. Its core product is the Unity engine, a development platform used to build video games and experiences for mobile devices, personal computers, consoles, augmented and virtual reality systems, and other platforms.

The company also provides tools and services that support the development and operation of interactive applications, including collaboration and cloud-based development tools, multiplayer and voice communication capabilities, analytics, advertising, and in-app monetization solutions.