Hidden Cove Wealth Management LLC Takes Position in Unity Software Inc. (NYSE:U)

Hidden Cove Wealth Management LLC purchased a new position in Unity Software Inc. (NYSE:U) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 141,101 shares of the company’s stock, valued at approximately $3,171,000. Unity Software accounts for 2.6% of Hidden Cove Wealth Management LLC’s investment portfolio, making the stock its 9th largest position.

Other hedge funds also recently modified their holdings of the company. Ariose Capital Management Ltd acquired a new position in Unity Software during the fourth quarter valued at approximately $2,299,000. Charles Schwab Investment Management Inc. increased its stake in shares of Unity Software by 100.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,886,016 shares of the company’s stock valued at $42,662,000 after purchasing an additional 944,709 shares during the last quarter. CIBC Asset Management Inc raised its holdings in shares of Unity Software by 2,665.4% during the 3rd quarter. CIBC Asset Management Inc now owns 342,472 shares of the company’s stock worth $7,747,000 after buying an additional 330,088 shares in the last quarter. LMR Partners LLP bought a new stake in shares of Unity Software during the 3rd quarter worth $611,000. Finally, Edgestream Partners L.P. boosted its stake in Unity Software by 637.9% in the third quarter. Edgestream Partners L.P. now owns 102,899 shares of the company’s stock valued at $2,328,000 after buying an additional 88,955 shares in the last quarter. Institutional investors own 73.46% of the company’s stock.

Unity Software Price Performance

Shares of NYSE:U opened at $19.44 on Thursday. Unity Software Inc. has a 12-month low of $13.90 and a 12-month high of $35.56. The business has a fifty day simple moving average of $23.13 and a 200 day simple moving average of $20.75. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.70.

Wall Street Analysts Forecast Growth

Several research analysts have commented on U shares. Jefferies Financial Group boosted their target price on Unity Software from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Oppenheimer reiterated a “market perform” rating on shares of Unity Software in a research report on Friday, October 18th. Barclays raised their target price on shares of Unity Software from $16.00 to $18.00 and gave the company an “equal weight” rating in a research report on Friday, November 8th. Needham & Company LLC boosted their target price on shares of Unity Software from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, UBS Group increased their price target on Unity Software from $21.00 to $23.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $22.81.

Insider Activity

In other news, CFO Mark Barrysmith sold 1,228 shares of Unity Software stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $24.44, for a total value of $30,012.32. Following the completion of the transaction, the chief financial officer now directly owns 453,638 shares of the company’s stock, valued at approximately $11,086,912.72. This trade represents a 0.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David Helgason sold 7,860 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $26.45, for a total value of $207,897.00. Following the completion of the transaction, the director now directly owns 10,493 shares in the company, valued at $277,539.85. This represents a 42.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 931,154 shares of company stock valued at $21,019,520. Company insiders own 6.30% 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.