Unity Software Inc. $U is Beaconlight Capital LLC’s 9th Largest Position

Beaconlight Capital LLC boosted its stake in Unity Software Inc. (NYSE:U) by 45.4% during the 4th quarter, HoldingsChannel reports. The fund owned 170,521 shares of the company’s stock after buying an additional 53,240 shares during the period. Unity Software comprises 4.4% of Beaconlight Capital LLC’s portfolio, making the stock its 9th largest position. Beaconlight Capital LLC’s holdings in Unity Software were worth $7,532,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. REAP Financial Group LLC acquired a new stake in shares of Unity Software during the fourth quarter worth $28,000. V Square Quantitative Management LLC acquired a new stake in shares of Unity Software in the 4th quarter worth about $30,000. Larson Financial Group LLC increased its holdings in shares of Unity Software by 88.1% in the 3rd quarter. Larson Financial Group LLC now owns 728 shares of the company’s stock worth $29,000 after acquiring an additional 341 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Unity Software in the 4th quarter worth about $36,000. Finally, IFP Advisors Inc acquired a new stake in shares of Unity Software in the 3rd quarter worth about $33,000. 73.46% of the stock is owned by institutional investors and hedge funds.

Unity Software Price Performance

U stock opened at $26.48 on Thursday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.56. Unity Software Inc. has a one year low of $16.78 and a one year high of $52.15. The firm has a market capitalization of $11.56 billion, a PE ratio of -16.87, a P/E/G ratio of 3.59 and a beta of 2.06. The firm has a 50-day moving average of $26.64 and a two-hundred day moving average of $30.36.

Analysts Set New Price Targets

A number of brokerages recently issued reports on U. Bank of America increased their target price on shares of Unity Software from $19.00 to $21.00 and gave the company a “neutral” rating in a research report on Friday, March 27th. Piper Sandler began coverage on shares of Unity Software in a research report on Tuesday, June 2nd. They issued an “overweight” rating and a $40.00 target price for the company. Needham & Company LLC increased their target price on shares of Unity Software from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Morgan Stanley increased their target price on shares of Unity Software from $30.00 to $32.00 and gave the company an “overweight” rating in a research report on Friday, March 27th. Finally, BTIG Research raised their price objective on shares of Unity Software from $39.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $37.71.

Insider Activity at Unity Software

In other Unity Software news, SVP Rebecca Berenice Boyden sold 952 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $27.20, for a total transaction of $25,894.40. Following the completion of the sale, the senior vice president directly owned 309,445 shares of the company’s stock, valued at approximately $8,416,904. This represents a 0.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Alexander Blum sold 2,099 shares of the stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $27.37, for a total transaction of $57,449.63. Following the completion of the sale, the chief operating officer directly owned 727,970 shares of the company’s stock, valued at $19,924,538.90. This trade represents a 0.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 198,321 shares of company stock valued at $5,390,783. Corporate insiders own 0.77% of the company’s stock.

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.