AXQ Capital LP Purchases New Shares in Unity Software Inc. (NYSE:U)

AXQ Capital LP acquired a new stake in Unity Software Inc. (NYSE:U) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 30,321 shares of the company’s stock, valued at approximately $681,000.

Other hedge funds have also recently modified their holdings of the company. R Squared Ltd purchased a new position in shares of Unity Software in the 4th quarter worth about $30,000. Principal Securities Inc. boosted its stake in Unity Software by 50.5% in the fourth quarter. Principal Securities Inc. now owns 1,422 shares of the company’s stock valued at $32,000 after acquiring an additional 477 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Unity Software by 33.6% during the 4th quarter. GAMMA Investing LLC now owns 1,636 shares of the company’s stock valued at $37,000 after acquiring an additional 411 shares during the period. Whipplewood Advisors LLC bought a new stake in shares of Unity Software in the 4th quarter worth approximately $40,000. Finally, Brooklyn Investment Group purchased a new position in Unity Software in the third quarter valued at approximately $43,000. Institutional investors own 73.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on U shares. Wedbush restated an “outperform” rating and issued a $27.00 target price on shares of Unity Software in a research note on Thursday, February 13th. Macquarie assumed coverage on shares of Unity Software in a report on Monday, March 10th. They set a “neutral” rating and a $24.00 price objective on the stock. HSBC upgraded shares of Unity Software from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a research note on Friday, February 21st. Jefferies Financial Group upped their price target on shares of Unity Software from $23.00 to $28.00 and gave the company a “hold” rating in a research note on Friday, February 21st. Finally, JMP Securities reiterated a “market perform” rating on shares of Unity Software in a research note on Monday, February 3rd. Ten analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Unity Software has an average rating of “Moderate Buy” and an average target price of $25.61.

Unity Software Stock Performance

Shares of U opened at $21.55 on Friday. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.70. The stock has a 50-day moving average price of $22.57 and a 200-day moving average price of $22.09. The company has a market cap of $8.83 billion, a PE ratio of -12.82 and a beta of 2.27. Unity Software Inc. has a 12-month low of $13.90 and a 12-month high of $30.88.

Unity Software (NYSE:U) last announced its earnings results on Thursday, February 20th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.05. The business had revenue of $457.10 million during the quarter, compared to analyst estimates of $433.47 million. Unity Software had a negative net margin of 36.63% and a negative return on equity of 13.40%. As a group, equities analysts forecast that Unity Software Inc. will post -1.25 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Unity Software news, CAO Mark Barrysmith sold 1,445 shares of Unity Software stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $20.61, for a total transaction of $29,781.45. Following the transaction, the chief accounting officer now directly owns 483,417 shares of the company’s stock, valued at approximately $9,963,224.37. This trade represents a 0.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Tomer Bar-Zeev sold 250,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $25.02, for a total transaction of $6,255,000.00. Following the completion of the sale, the director now owns 3,648,146 shares of the company’s stock, valued at approximately $91,276,612.92. The trade was a 6.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 865,236 shares of company stock worth $20,849,425. Corporate insiders own 6.30% of the company’s stock.

Unity Software Company Profile

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.