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

Tradition Wealth Management LLC acquired a new position in shares of Unity Software Inc. (NYSE:U) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 17,511 shares of the company’s stock, valued at approximately $393,000.

A number of other hedge funds have also recently added to or reduced their stakes in U. Ariose Capital Management Ltd bought a new stake in shares of Unity Software during the 4th quarter worth about $2,299,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Unity Software by 3.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,958,400 shares of the company’s stock valued at $44,005,000 after buying an additional 72,384 shares during the period. Jessup Wealth Management Inc bought a new position in shares of Unity Software during the 4th quarter valued at about $510,000. Vanguard Group Inc. raised its holdings in shares of Unity Software by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 31,123,035 shares of the company’s stock worth $699,335,000 after purchasing an additional 625,872 shares in the last quarter. Finally, CIBC Asset Management Inc increased its position in shares of Unity Software by 10.0% in the fourth quarter. CIBC Asset Management Inc now owns 376,794 shares of the company’s stock worth $8,467,000 after acquiring an additional 34,322 shares in the last quarter. Institutional investors and hedge funds own 73.46% of the company’s stock.

Unity Software Stock Performance

NYSE U opened at $19.20 on Monday. The stock has a market cap of $7.86 billion, a P/E ratio of -11.43 and a beta of 2.31. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.70. Unity Software Inc. has a twelve month low of $13.90 and a twelve month high of $30.88. The company’s 50-day simple moving average is $21.53 and its 200 day simple moving average is $22.02.

Unity Software (NYSE:U) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.35) by $0.05. The firm had revenue of $457.10 million during the quarter, compared to analyst estimates of $433.47 million. Unity Software had a negative return on equity of 13.40% and a negative net margin of 36.63%. As a group, research analysts forecast that Unity Software Inc. will post -1.25 earnings per share for the current fiscal year.

Analyst Ratings Changes

U has been the subject of several research reports. Citizens Jmp upgraded shares of Unity Software from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 11th. JMP Securities reaffirmed a “market perform” rating on shares of Unity Software in a research note on Monday, February 3rd. Needham & Company LLC lifted their price objective on Unity Software from $26.00 to $33.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Wells Fargo & Company reduced their price target on Unity Software from $22.00 to $19.00 and set an “equal weight” rating for the company in a report on Tuesday, April 8th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $27.00 price target on shares of Unity Software in a research report on Thursday, February 13th. Ten equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Unity Software has a consensus rating of “Moderate Buy” and an average target price of $23.96.

Insider Activity at Unity Software

In other news, Director Tomer Bar-Zeev sold 83,333 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $25.44, for a total transaction of $2,119,991.52. Following the completion of the transaction, the director now directly owns 3,398,146 shares in the company, valued at approximately $86,448,834.24. The trade was a 2.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Mark Barrysmith sold 1,595 shares of the company’s stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $18.43, for a total transaction of $29,395.85. Following the completion of the sale, the chief accounting officer now directly owns 481,822 shares of the company’s stock, valued at $8,879,979.46. The trade was a 0.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 782,231 shares of company stock valued at $17,933,528 over the last ninety days. 6.30% of the stock is owned by insiders.

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.