Unity Software Inc. $U Shares Bought by Beaconlight Capital LLC

Beaconlight Capital LLC boosted its holdings in shares of Unity Software Inc. (NYSE:U) by 45.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 170,521 shares of the company’s stock after purchasing an additional 53,240 shares during the period. Unity Software comprises approximately 4.4% of Beaconlight Capital LLC’s investment portfolio, making the stock its 9th biggest holding. Beaconlight Capital LLC’s holdings in Unity Software were worth $7,532,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Unity Software by 2.9% during the fourth quarter. Vanguard Group Inc. now owns 35,553,296 shares of the company’s stock valued at $1,570,389,000 after purchasing an additional 996,685 shares during the period. Wellington Management Group LLP lifted its position 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 valued at $729,284,000 after purchasing an additional 6,734,285 shares during the period. Geode Capital Management LLC lifted its position in Unity Software by 5.9% during the fourth quarter. Geode Capital Management LLC now owns 5,852,047 shares of the company’s stock valued at $258,547,000 after purchasing an additional 328,595 shares during the period. Norges Bank acquired a new position in Unity Software during the fourth quarter valued at $230,285,000. Finally, Ameriprise Financial Inc. increased its holdings in Unity Software by 37.8% in the second quarter. Ameriprise Financial Inc. now owns 4,628,328 shares of the company’s stock valued at $112,006,000 after buying an additional 1,270,798 shares in the last quarter. 73.46% of the stock is currently owned by institutional investors and hedge funds.

Unity Software Stock Performance

NYSE:U opened at $26.48 on Thursday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.95 and a current ratio of 1.95. Unity Software Inc. has a fifty-two week low of $16.78 and a fifty-two week high of $52.15. The stock has a market capitalization of $11.56 billion, a P/E ratio of -16.87, a PEG ratio of 3.59 and a beta of 2.06. The company has a 50 day moving average price of $26.64 and a 200 day moving average price of $30.36.

Insider Activity at Unity Software

In other Unity Software news, CEO Matthew S. Bromberg sold 138,993 shares of the firm’s stock in a transaction on 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 directly owned 1,557,514 shares of the company’s stock, valued at approximately $42,333,230.52. This trade represents a 8.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Mark Barrysmith sold 13,247 shares of Unity Software stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $27.18, for a total transaction of $360,053.46. Following the completion of the sale, the chief accounting officer directly owned 370,654 shares in the company, valued at approximately $10,074,375.72. The trade was a 3.45% 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 a total of 198,321 shares of company stock worth $5,390,783 in the last three months. Company insiders own 0.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Wedbush lifted their price objective on shares of Unity Software from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Bank of America lifted their price objective on shares of Unity Software from $19.00 to $21.00 and gave the company a “neutral” rating in a report on Friday, March 27th. 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 report on Friday, May 8th. Citizens Jmp reissued a “market outperform” rating and set a $37.00 target price on shares of Unity Software in a research note on Friday, March 27th. Finally, Wells Fargo & Company lifted their price objective on Unity Software from $29.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.71.

About Unity Software

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.