Hussman Strategic Advisors Inc. Makes New Investment in Unity Software Inc. $U

Hussman Strategic Advisors Inc. acquired a new stake in Unity Software Inc. (NYSE:U) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 21,000 shares of the company’s stock, valued at approximately $841,000.

A number of other institutional investors and hedge funds have also made changes to their positions in U. Slate Path Capital LP raised its holdings in Unity Software by 25.4% in the second quarter. Slate Path Capital LP now owns 20,016,952 shares of the company’s stock valued at $484,410,000 after acquiring an additional 4,048,484 shares in the last quarter. Norges Bank acquired a new position in Unity Software during the 2nd quarter worth approximately $151,221,000. Geode Capital Management LLC increased its position in shares of Unity Software by 0.7% in the 2nd 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. Ameriprise Financial Inc. raised its holdings in shares of Unity Software by 37.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,628,328 shares of the company’s stock valued at $112,006,000 after purchasing an additional 1,270,798 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Unity Software by 8.8% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,017,147 shares of the company’s stock valued at $73,015,000 after purchasing an additional 243,990 shares in the last quarter. 73.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Unity Software news, CFO Jarrod Yahes sold 34,719 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $41.38, for a total transaction of $1,436,672.22. Following the completion of the sale, the chief financial officer directly owned 573,871 shares of the company’s stock, valued at $23,746,781.98. This represents a 5.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Tomer Bar-Zeev sold 250,000 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $37.98, for a total value of $9,495,000.00. Following the sale, the director directly owned 1,298,146 shares of the company’s stock, valued at $49,303,585.08. The trade was a 16.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 1,647,935 shares of company stock valued at $75,174,498 in the last quarter. Corporate insiders own 3.61% of the company’s stock.

Unity Software Price Performance

Shares of NYSE U opened at $40.16 on Thursday. The stock has a market cap of $17.18 billion, a P/E ratio of -38.25, a P/E/G ratio of 43.24 and a beta of 2.04. Unity Software Inc. has a twelve month low of $15.33 and a twelve month high of $52.15. The stock has a 50 day moving average of $44.17 and a two-hundred day moving average of $40.27. The company has a current ratio of 2.78, a quick ratio of 2.78 and a debt-to-equity ratio of 0.70.

Unity Software (NYSE:U) last announced its earnings results on Wednesday, November 5th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03. Unity Software had a negative net margin of 24.15% and a negative return on equity of 9.45%. The business had revenue of $470.62 million for the quarter, compared to analyst estimates of $452.87 million. During the same period last year, the firm posted ($0.31) earnings per share. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, research analysts forecast that Unity Software Inc. will post -1.25 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Citigroup boosted their target price on shares of Unity Software from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Tuesday, November 11th. Barclays upped their price objective on Unity Software from $30.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 6th. UBS Group raised their target price on Unity Software from $35.00 to $40.00 and gave the stock a “neutral” rating in a research report on Monday, October 20th. Wall Street Zen upgraded Unity Software from a “hold” rating to a “buy” rating in a research note on Saturday, December 6th. Finally, Wedbush upped their price target on Unity Software from $50.00 to $55.00 and gave the company an “outperform” rating in a report on Tuesday, December 2nd. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $45.27.

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.