Flynn Zito Capital Management LLC Acquires New Shares in Unity Software Inc. (NYSE:U)

Flynn Zito Capital Management LLC acquired a new stake in Unity Software Inc. (NYSE:U) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 6,855 shares of the company’s stock, valued at approximately $280,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Front Row Advisors LLC raised its holdings in Unity Software by 15,550.0% in the second quarter. Front Row Advisors LLC now owns 626 shares of the company’s stock worth $27,000 after purchasing an additional 622 shares in the last quarter. Huntington National Bank raised its holdings in Unity Software by 665.0% in the third quarter. Huntington National Bank now owns 895 shares of the company’s stock worth $28,000 after purchasing an additional 778 shares in the last quarter. Pacifica Partners Inc. bought a new position in Unity Software in the fourth quarter worth about $33,000. Impact Partnership Wealth LLC raised its holdings in Unity Software by 1,151.0% in the third quarter. Impact Partnership Wealth LLC now owns 1,251 shares of the company’s stock worth $39,000 after purchasing an additional 1,151 shares in the last quarter. Finally, IFP Advisors Inc raised its holdings in Unity Software by 373.7% in the second quarter. IFP Advisors Inc now owns 919 shares of the company’s stock worth $40,000 after purchasing an additional 725 shares in the last quarter. 73.46% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on U. Piper Sandler upgraded shares of Unity Software from an “underweight” rating to a “neutral” rating and reduced their target price for the stock from $35.00 to $30.00 in a report on Tuesday, February 27th. Wedbush dropped their price target on Unity Software from $50.00 to $33.50 and set an “outperform” rating on the stock in a research note on Tuesday, February 27th. Stifel Nicolaus boosted their price target on Unity Software from $32.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. William Blair restated an “outperform” rating on shares of Unity Software in a research note on Tuesday, January 9th. Finally, The Goldman Sachs Group boosted their price target on Unity Software from $29.00 to $32.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $37.03.

Unity Software Price Performance

NYSE U traded down $0.29 during mid-day trading on Thursday, hitting $23.43. The stock had a trading volume of 4,553,913 shares, compared to its average volume of 10,117,812. The firm’s 50 day moving average is $28.31 and its 200 day moving average is $30.73. Unity Software Inc. has a twelve month low of $22.20 and a twelve month high of $50.08. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.60 and a quick ratio of 2.60. The stock has a market capitalization of $9.04 billion, a price-to-earnings ratio of -10.91 and a beta of 2.42.

Unity Software (NYSE:U) last issued its earnings results on Monday, February 26th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.89). The company had revenue of $609.27 million during the quarter, compared to analysts’ expectations of $551.01 million. Unity Software had a negative net margin of 37.64% and a negative return on equity of 10.14%. The firm’s quarterly revenue was up 35.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.50) earnings per share. Equities research analysts forecast that Unity Software Inc. will post -0.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Unity Software

In other Unity Software news, SVP Anirma Gupta sold 756 shares of the company’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $33.07, for a total value of $25,000.92. Following the completion of the sale, the senior vice president now directly owns 396,985 shares in the company, valued at approximately $13,128,293.95. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, SVP Anirma Gupta sold 756 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $33.07, for a total transaction of $25,000.92. Following the completion of the transaction, the senior vice president now directly owns 396,985 shares in the company, valued at approximately $13,128,293.95. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CMO Carol W. Carpenter sold 2,000 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $32.51, for a total value of $65,020.00. Following the transaction, the chief marketing officer now owns 455,034 shares of the company’s stock, valued at $14,793,155.34. The disclosure for this sale can be found here. Insiders sold a total of 341,723 shares of company stock worth $9,577,516 in the last three months. 9.00% of the stock is owned by corporate insiders.

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.