Hudson Bay Capital Management LP Invests $2.47 Million in Unity Software Inc. $U

Hudson Bay Capital Management LP purchased a new stake in Unity Software Inc. (NYSE:U) in the third quarter, HoldingsChannel.com reports. The firm purchased 61,704 shares of the company’s stock, valued at approximately $2,471,000.

Several other institutional investors have also added to or reduced their stakes in U. Jefferies Financial Group Inc. acquired a new stake in Unity Software in the 2nd quarter worth approximately $205,000. Vanguard Group Inc. increased its stake in Unity Software by 2.8% during the 3rd quarter. Vanguard Group Inc. now owns 34,556,611 shares of the company’s stock valued at $1,383,647,000 after purchasing an additional 930,293 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Unity Software by 148.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 22,181 shares of the company’s stock valued at $537,000 after purchasing an additional 13,245 shares in the last quarter. Broad Peak Investment Advisers Pte Ltd raised its holdings in shares of Unity Software by 43.6% in the third quarter. Broad Peak Investment Advisers Pte Ltd now owns 2,849,437 shares of the company’s stock worth $114,091,000 after buying an additional 865,179 shares during the last quarter. Finally, Maytree Asset Management Ltd raised its holdings in shares of Unity Software by 112.0% in the third quarter. Maytree Asset Management Ltd now owns 217,846 shares of the company’s stock worth $8,723,000 after buying an additional 115,111 shares during the last quarter. Institutional investors and hedge funds own 73.46% of the company’s stock.

Unity Software Stock Down 4.0%

NYSE:U opened at $18.38 on Friday. The firm has a market capitalization of $7.96 billion, a P/E ratio of -19.14, a PEG ratio of 9.87 and a beta of 2.14. Unity Software Inc. has a 1-year low of $15.33 and a 1-year high of $52.15. The company’s fifty day moving average price is $26.92 and its 200-day moving average price is $36.60. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.84 and a quick ratio of 1.84.

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

Insider Buying and Selling at Unity Software

In other news, CFO Jarrod Yahes sold 12,196 shares of the company’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $18.07, for a total value of $220,381.72. Following the sale, the chief financial officer owned 533,933 shares in the company, valued at $9,648,169.31. This represents a 2.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Alexander Blum sold 10,164 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 value of $183,663.48. Following the sale, the chief operating officer directly owned 550,966 shares in the company, valued at approximately $9,955,955.62. This trade represents a 1.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 41,684 shares of company stock worth $773,350. Insiders own 3.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. The Goldman Sachs Group dropped their price objective on shares of Unity Software from $47.00 to $27.00 and set a “neutral” rating on the stock in a report on Thursday, February 12th. Wall Street Zen upgraded Unity Software from a “hold” rating to a “buy” rating in a research note on Saturday, March 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Unity Software in a research report on Wednesday, January 21st. Benchmark reiterated a “hold” rating on shares of Unity Software in a research note on Monday, February 2nd. Finally, Jefferies Financial Group increased their price objective on Unity Software from $49.00 to $55.00 and gave the company a “buy” rating in a report on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $39.73.

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.