Formula Growth Ltd. Has $4.05 Million Holdings in Unity Software Inc. (NYSE:U)

Formula Growth Ltd. raised its holdings in Unity Software Inc. (NYSE:U) by 2.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 180,000 shares of the company’s stock after purchasing an additional 5,000 shares during the quarter. Unity Software accounts for about 1.4% of Formula Growth Ltd.’s holdings, making the stock its 23rd biggest position. Formula Growth Ltd.’s holdings in Unity Software were worth $4,045,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in U. R Squared Ltd bought a new position in Unity Software in the 4th quarter valued at about $30,000. Principal Securities Inc. increased its stake in shares of Unity Software by 50.5% during the fourth quarter. Principal Securities Inc. now owns 1,422 shares of the company’s stock worth $32,000 after purchasing an additional 477 shares during the period. GAMMA Investing LLC increased its stake in shares of Unity Software by 33.6% during the fourth quarter. GAMMA Investing LLC now owns 1,636 shares of the company’s stock worth $37,000 after purchasing an additional 411 shares during the period. Whipplewood Advisors LLC acquired a new stake in Unity Software during the 4th quarter worth approximately $40,000. Finally, Jones Financial Companies Lllp boosted its stake in Unity Software by 144.8% in the 4th quarter. Jones Financial Companies Lllp now owns 1,902 shares of the company’s stock valued at $43,000 after purchasing an additional 1,125 shares during the period. 73.46% of the stock is owned by institutional investors and hedge funds.

Unity Software Trading Up 1.6 %

Shares of U opened at $19.20 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.41 and a current ratio of 2.41. Unity Software Inc. has a 52-week low of $13.90 and a 52-week high of $30.88. The firm has a market cap of $7.86 billion, a price-to-earnings ratio of -11.43 and a beta of 2.31. The business’s fifty day moving average is $21.53 and its 200-day moving average is $22.01.

Unity Software (NYSE:U) last released its earnings results on Thursday, February 20th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.05. The firm had revenue of $457.10 million for the quarter, compared to analysts’ expectations of $433.47 million. Unity Software had a negative return on equity of 13.40% and a negative net margin of 36.63%. Equities analysts anticipate that Unity Software Inc. will post -1.25 EPS for the current fiscal year.

Insider Activity at Unity Software

In related news, COO Alexander Blum sold 1,479 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $25.26, for a total transaction of $37,359.54. Following the sale, the chief operating officer now owns 495,648 shares of the company’s stock, valued at $12,520,068.48. This trade represents a 0.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Anirma Gupta sold 31,948 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $25.23, for a total value of $806,048.04. Following the completion of the transaction, the senior vice president now owns 542,942 shares of the company’s stock, valued at $13,698,426.66. This represents a 5.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 782,231 shares of company stock valued at $17,933,528. 6.30% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have weighed in on U. Needham & Company LLC increased their price objective on Unity Software from $26.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Macquarie initiated coverage on shares of Unity Software in a research note on Monday, March 10th. They issued a “neutral” rating and a $24.00 price objective for the company. Wells Fargo & Company cut their price objective on shares of Unity Software from $22.00 to $19.00 and set an “equal weight” rating for the company in a report on Tuesday, April 8th. Citigroup raised shares of Unity Software from a “neutral” rating to a “buy” rating and set a $30.00 target price on the stock in a report on Tuesday, March 11th. Finally, Morgan Stanley cut their price target on Unity Software from $32.00 to $25.00 and set an “overweight” rating for the company in a research note on Thursday. Ten investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $23.96.

Unity Software Profile

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.