Atreides Management LP Sells 59,602 Shares of Unity Software Inc. $U

Atreides Management LP cut its holdings in shares of Unity Software Inc. (NYSE:U) by 1.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 6,111,553 shares of the company’s stock after selling 59,602 shares during the period. Unity Software comprises approximately 4.8% of Atreides Management LP’s holdings, making the stock its 3rd largest holding. Atreides Management LP’s holdings in Unity Software were worth $244,707,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of U. Vanguard Group Inc. grew 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 valued at $1,383,647,000 after acquiring an additional 930,293 shares in the last quarter. Slate Path Capital LP raised its holdings in Unity Software by 25.4% during the second quarter. Slate Path Capital LP now owns 20,016,952 shares of the company’s stock worth $484,410,000 after acquiring an additional 4,048,484 shares in the last quarter. Wellington Management Group LLP raised its holdings in 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 in the last quarter. Norges Bank acquired a new position in Unity Software during the second quarter valued at approximately $151,221,000. Finally, Geode Capital Management LLC boosted its position in Unity Software by 0.7% during the second quarter. Geode Capital Management LLC now owns 5,064,703 shares of the company’s stock valued at $122,587,000 after purchasing an additional 36,105 shares during the last quarter. 73.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. UBS Group lowered their price target on Unity Software from $46.00 to $32.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 10th. Morgan Stanley increased their price objective on Unity Software from $48.00 to $52.00 and gave the company an “overweight” rating in a report on Tuesday, January 13th. Arete Research raised shares of Unity Software from a “neutral” rating to a “buy” rating and set a $48.00 target price for the company in a research note on Monday, December 1st. Jefferies Financial Group boosted their target price on shares of Unity Software from $49.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, January 5th. Finally, Wedbush reaffirmed an “outperform” rating and set a $30.00 price target on shares of Unity Software in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Unity Software has an average rating of “Moderate Buy” and an average price target of $39.73.

Unity Software Price Performance

NYSE:U opened at $19.42 on Friday. Unity Software Inc. has a 12-month low of $15.33 and a 12-month high of $52.15. The firm has a market capitalization of $8.41 billion, a price-to-earnings ratio of -20.23, a P/E/G ratio of 10.42 and a beta of 2.14. The stock’s 50 day moving average price is $29.51 and its two-hundred day moving average price is $37.31. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.52.

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

Insider Buying and Selling at Unity Software

In other news, CFO Jarrod Yahes sold 6,205 shares of the stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $21.03, for a total value of $130,491.15. Following the transaction, the chief financial officer directly owned 728,381 shares of the company’s stock, valued at $15,317,852.43. This represents a 0.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Mark Barrysmith sold 10,578 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $18.07, for a total transaction of $191,144.46. Following the sale, the chief accounting officer owned 383,901 shares of the company’s stock, valued at approximately $6,937,091.07. This represents a 2.68% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 41,684 shares of company stock valued at $773,350 in the last quarter. 3.61% of the stock is currently owned by insiders.

Unity Software Company 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.