Cinctive Capital Management LP Purchases Shares of 118,047 Unity Software Inc. $U

Cinctive Capital Management LP acquired a new stake in Unity Software Inc. (NYSE:U) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 118,047 shares of the company’s stock, valued at approximately $4,727,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Jefferies Financial Group Inc. bought a new position in shares of Unity Software during the 2nd quarter worth approximately $205,000. Vanguard Group Inc. raised its stake in Unity Software by 2.8% in the 3rd quarter. Vanguard Group Inc. now owns 34,556,611 shares of the company’s stock valued at $1,383,647,000 after acquiring an additional 930,293 shares during the period. PNC Financial Services Group Inc. raised its stake in Unity Software by 148.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 22,181 shares of the company’s stock valued at $537,000 after acquiring an additional 13,245 shares during the period. Broad Peak Investment Advisers Pte Ltd lifted its holdings in Unity Software by 43.6% during the 3rd quarter. Broad Peak Investment Advisers Pte Ltd now owns 2,849,437 shares of the company’s stock valued at $114,091,000 after purchasing an additional 865,179 shares during the last quarter. Finally, Maytree Asset Management Ltd lifted its holdings in Unity Software by 112.0% during the 3rd quarter. Maytree Asset Management Ltd now owns 217,846 shares of the company’s stock valued at $8,723,000 after purchasing an additional 115,111 shares during the last quarter. 73.46% of the stock is owned by institutional investors.

Unity Software Stock Performance

Shares of NYSE U opened at $19.42 on Monday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.84 and a quick ratio of 1.84. The firm has a market cap of $8.41 billion, a price-to-earnings ratio of -20.23, a P/E/G ratio of 10.42 and a beta of 2.15. The stock’s fifty day moving average price is $29.51 and its two-hundred day moving average price is $37.29. Unity Software Inc. has a one year low of $15.33 and a one year high of $52.15.

Unity Software (NYSE:U) last posted its earnings results on Wednesday, February 11th. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.04. The company had revenue of $503.09 million during the quarter, compared to the consensus estimate of $490.64 million. Unity Software had a negative return on equity of 4.76% and a negative net margin of 21.77%.The company’s revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the firm earned ($0.30) earnings per share. On average, equities analysts forecast that Unity Software Inc. will post -1.25 EPS for the current year.

Wall Street Analysts Forecast Growth

U has been the topic of several research reports. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 price objective on shares of Unity Software in a report on Wednesday, February 11th. Benchmark restated a “hold” rating on shares of Unity Software in a research note on Monday, February 2nd. Wells Fargo & Company cut their target price on shares of Unity Software from $54.00 to $38.00 and set an “overweight” rating for the company in a research note on Thursday, February 12th. Wall Street Zen raised shares of Unity Software from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Wedbush reissued an “outperform” rating and issued a $30.00 price target on shares of Unity Software in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $39.73.

Insider Buying and Selling

In other Unity Software news, CFO Jarrod Yahes sold 12,196 shares of Unity Software stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $18.07, for a total value of $220,381.72. Following the completion of the sale, the chief financial officer owned 533,933 shares in the company, valued at $9,648,169.31. The trade was a 2.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Alexander Blum sold 10,164 shares of the business’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $18.07, for a total transaction of $183,663.48. Following the completion of the sale, the chief operating officer directly owned 550,966 shares of the company’s stock, valued at $9,955,955.62. This represents a 1.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 41,684 shares of company stock valued at $773,350. 3.61% of the stock is owned by company insiders.

About Unity Software

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.