Headlands Technologies LLC Buys New Position in Unity Software Inc. $U

Headlands Technologies LLC purchased a new position in shares of Unity Software Inc. (NYSE:U) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 19,805 shares of the company’s stock, valued at approximately $566,000.

Several other institutional investors also recently added to or reduced their stakes in the company. Atreides Management LP acquired a new stake in shares of Unity Software in the second quarter valued at approximately $292,826,000. Wellington Management Group LLP grew its position in shares of Unity Software by 58.7% during the third quarter. Wellington Management Group LLP now owns 18,213,875 shares of the company’s stock worth $729,284,000 after acquiring an additional 6,734,285 shares during the last quarter. Norges Bank acquired a new position in shares of Unity Software in the 4th quarter valued at $230,285,000. Renaissance Technologies LLC acquired a new position in shares of Unity Software in the 1st quarter valued at $54,534,000. Finally, Avala Global LP purchased a new stake in Unity Software in the 2nd quarter valued at $62,522,000. Institutional investors and hedge funds own 73.46% of the company’s stock.

Unity Software Price Performance

Shares of NYSE U opened at $40.72 on Thursday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.03 and a quick ratio of 2.03. The stock has a fifty day moving average price of $36.01 and a 200 day moving average price of $28.12. Unity Software Inc. has a 1-year low of $16.78 and a 1-year high of $52.15. The company has a market cap of $17.92 billion, a PE ratio of -29.94, a P/E/G ratio of 1.79 and a beta of 2.06.

Unity Software (NYSE:U) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.39. The company had revenue of $546.47 million for the quarter, compared to analysts’ expectations of $514.72 million. Unity Software had a negative net margin of 28.97% and a positive return on equity of 4.64%. Unity Software’s revenue was up 24.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.18 EPS. Sell-side analysts forecast that Unity Software Inc. will post 0.55 EPS for the current year.

Insider Activity

In related news, SVP Rebecca Berenice Boyden sold 1,032 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $45.32, for a total value of $46,770.24. Following the completion of the sale, the senior vice president owned 308,413 shares in the company, valued at $13,977,277.16. This trade represents a 0.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Matthew S. Bromberg sold 16,383 shares of Unity Software stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $45.31, for a total value of $742,313.73. Following the completion of the sale, the chief executive officer directly owned 1,541,131 shares in the company, valued at $69,828,645.61. This represents a 1.05% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 109,547 shares of company stock worth $4,884,202 in the last ninety days. 0.77% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Zacks Research upgraded shares of Unity Software from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 13th. Citizens Jmp lifted their price objective on shares of Unity Software from $37.00 to $45.00 and gave the company a “market outperform” rating in a research note on Friday, August 7th. Benchmark raised shares of Unity Software from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a report on Friday, August 7th. HSBC upgraded shares of Unity Software from a “hold” rating to a “buy” rating and set a $47.10 target price for the company in a research note on Friday, August 7th. Finally, Wall Street Zen raised Unity Software from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $45.16.

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.