LJI Wealth Management LLC Invests $601,000 in Unity Software Inc. $U

LJI Wealth Management LLC bought a new stake in Unity Software Inc. (NYSE:U) in the 3rd quarter, according to its most recent filing with the SEC. The fund bought 15,000 shares of the company’s stock, valued at approximately $601,000.

Other hedge funds have also recently added to or reduced their stakes in the company. CX Institutional acquired a new stake in Unity Software during the second quarter valued at $25,000. Atlantic Union Bankshares Corp purchased a new stake in shares of Unity Software during the 2nd quarter worth about $28,000. Salem Investment Counselors Inc. acquired a new stake in shares of Unity Software during the 3rd quarter valued at about $40,000. Allworth Financial LP increased its stake in shares of Unity Software by 28.4% in the 2nd quarter. Allworth Financial LP now owns 1,865 shares of the company’s stock valued at $45,000 after purchasing an additional 412 shares in the last quarter. Finally, Roxbury Financial LLC purchased a new position in shares of Unity Software in the 3rd quarter valued at about $60,000. 73.46% of the stock is owned by hedge funds and other institutional investors.

Unity Software Price Performance

Shares of NYSE U opened at $40.96 on Friday. The firm has a 50-day simple moving average of $43.73 and a 200-day simple moving average of $39.48. The company has a quick ratio of 2.78, a current ratio of 2.78 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $17.53 billion, a price-to-earnings ratio of -39.01, a price-to-earnings-growth ratio of 42.92 and a beta of 2.04. Unity Software Inc. has a 52 week low of $15.33 and a 52 week high of $52.15.

Unity Software (NYSE:U) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03. Unity Software had a negative net margin of 24.15% and a negative return on equity of 9.45%. The firm had revenue of $470.62 million for the quarter, compared to analyst estimates of $452.87 million. During the same period in the previous year, the business posted ($0.31) earnings per share. Unity Software’s quarterly revenue was up 5.4% on a year-over-year basis. On average, equities analysts predict that Unity Software Inc. will post -1.25 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director David Helgason sold 8,347 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $49.16, for a total value of $410,338.52. Following the completion of the sale, the director directly owned 7,635 shares in the company, valued at $375,336.60. This represents a 52.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Mark Barrysmith sold 14,407 shares of the stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $50.01, for a total value of $720,494.07. Following the completion of the sale, the chief accounting officer directly owned 394,479 shares of the company’s stock, valued at approximately $19,727,894.79. This represents a 3.52% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 1,647,935 shares of company stock valued at $75,174,498. Insiders own 3.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. BTIG Research upgraded Unity Software from a “neutral” rating to a “buy” rating and set a $60.00 price target on the stock in a research report on Thursday, December 11th. Deutsche Bank Aktiengesellschaft began coverage on Unity Software in a research report on Wednesday, October 22nd. They set a “hold” rating and a $39.00 target price on the stock. Barclays boosted their price target on shares of Unity Software from $30.00 to $35.00 and gave the stock an “equal weight” rating in a report on Thursday, November 6th. UBS Group increased their price objective on shares of Unity Software from $35.00 to $40.00 and gave the company a “neutral” rating in a report on Monday, October 20th. Finally, Hsbc Global Res lowered shares of Unity Software from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 30th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.27.

Unity Software Profile

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.