Kettle Hill Capital Management LLC Cuts Holdings in Unity Software Inc. $U

Kettle Hill Capital Management LLC decreased its stake in Unity Software Inc. (NYSE:U) by 61.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 234,471 shares of the company’s stock after selling 379,672 shares during the period. Unity Software comprises about 2.1% of Kettle Hill Capital Management LLC’s investment portfolio, making the stock its 21st biggest position. Kettle Hill Capital Management LLC owned 0.05% of Unity Software worth $9,388,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in U. Jefferies Financial Group Inc. purchased a new stake in Unity Software during the second quarter valued at about $205,000. Vanguard Group Inc. boosted its holdings in shares of Unity Software by 2.8% in the 3rd quarter. Vanguard Group Inc. now owns 34,556,611 shares of the company’s stock worth $1,383,647,000 after purchasing an additional 930,293 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Unity Software by 148.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 22,181 shares of the company’s stock worth $537,000 after purchasing an additional 13,245 shares in the last quarter. Broad Peak Investment Advisers Pte Ltd increased its position in shares of 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 increased its position in shares of 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. Hedge funds and other institutional investors own 73.46% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on U shares. Piper Sandler upgraded Unity Software from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $43.00 to $59.00 in a research report on Thursday, December 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Unity Software in a research report on Wednesday, January 21st. Wall Street Zen raised shares of Unity Software from a “hold” rating to a “buy” rating in a research note on Saturday. Freedom Capital upgraded shares of Unity Software to a “strong-buy” rating in a report on Thursday, January 15th. Finally, Morgan Stanley upped their price objective on shares of Unity Software from $48.00 to $52.00 and gave the company an “overweight” rating in a research note on Tuesday, January 13th. One 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 assigned a Sell rating to the stock. According to MarketBeat, Unity Software presently has a consensus rating of “Moderate Buy” and an average price target of $39.73.

Unity Software Price Performance

U opened at $19.42 on Monday. The stock’s 50 day simple moving average is $29.51 and its 200 day simple moving average is $37.29. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.84 and a quick ratio of 1.84. Unity Software Inc. has a 1 year low of $15.33 and a 1 year high of $52.15. The firm has a market cap of $8.41 billion, a price-to-earnings ratio of -20.23, a PEG ratio of 10.42 and a beta of 2.15.

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

Insider Buying and Selling

In related news, CAO Mark Barrysmith sold 10,578 shares of Unity Software stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $18.07, for a total value of $191,144.46. Following the transaction, the chief accounting officer directly owned 383,901 shares of the company’s stock, valued at $6,937,091.07. The trade was a 2.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Jarrod Yahes sold 12,196 shares of the company’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $18.07, for a total transaction of $220,381.72. Following the sale, the chief financial officer owned 533,933 shares of the company’s stock, valued at $9,648,169.31. This represents a 2.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 41,684 shares of company stock valued at $773,350 over the last three months. 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.