Blue Jean Financial LLC Invests $1.66 Million in Unity Software Inc. $U

Blue Jean Financial LLC acquired a new stake in Unity Software Inc. (NYSE:U) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 37,461 shares of the company’s stock, valued at approximately $1,655,000.

Other hedge funds have also bought and sold shares of the company. REAP Financial Group LLC purchased a new position in Unity Software in the 4th quarter valued at approximately $28,000. V Square Quantitative Management LLC purchased a new position in Unity Software in the 4th quarter valued at approximately $30,000. Larson Financial Group LLC grew its stake in Unity Software by 88.1% in the 3rd quarter. Larson Financial Group LLC now owns 728 shares of the company’s stock valued at $29,000 after buying an additional 341 shares in the last quarter. International Assets Investment Management LLC purchased a new position in Unity Software in the 4th quarter valued at approximately $36,000. Finally, IFP Advisors Inc purchased a new position in Unity Software in the 3rd quarter valued at approximately $33,000. 73.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on U. Barclays lifted their price objective on shares of Unity Software from $28.00 to $33.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Piper Sandler assumed coverage on shares of Unity Software in a research report on Tuesday, June 2nd. They set an “overweight” rating and a $40.00 price target for the company. Citigroup reduced their price target on shares of Unity Software from $43.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. Bank of America boosted their price target 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. Finally, UBS Group boosted their price target on shares of Unity Software from $26.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $37.71.

Unity Software Price Performance

U stock opened at $27.30 on Friday. The firm’s 50-day moving average price is $26.33 and its two-hundred day moving average price is $30.75. Unity Software Inc. has a 12-month low of $16.78 and a 12-month high of $52.15. The stock has a market capitalization of $11.92 billion, a price-to-earnings ratio of -17.39, a PEG ratio of 3.48 and a beta of 2.06. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.56.

Insider Activity at Unity Software

In related news, CEO Matthew S. Bromberg sold 138,993 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $27.18, for a total transaction of $3,777,829.74. Following the transaction, the chief executive officer owned 1,557,514 shares in the company, valued at $42,333,230.52. The trade was a 8.19% decrease in their ownership of the stock. The sale 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, CFO Jarrod Yahes sold 24,021 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $27.18, for a total transaction of $652,890.78. Following the transaction, the chief financial officer owned 704,360 shares in the company, valued at $19,144,504.80. This represents a 3.30% 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 have sold 198,321 shares of company stock valued at $5,390,783 over the last three months. Corporate insiders own 0.77% of the company’s stock.

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.