Cambria Investment Management L.P. Has $1.20 Million Stock Position in Unity Software Inc. $U

Cambria Investment Management L.P. reduced its position in Unity Software Inc. (NYSE:U) by 62.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 30,067 shares of the company’s stock after selling 50,451 shares during the quarter. Cambria Investment Management L.P.’s holdings in Unity Software were worth $1,204,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Root Financial Partners LLC purchased a new position in Unity Software during the 3rd quarter worth approximately $27,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Unity Software in the third quarter worth $38,000. Salem Investment Counselors Inc. purchased a new position in shares of Unity Software during the third quarter valued at $40,000. Atlantic Union Bankshares Corp purchased a new position in shares of Unity Software during the second quarter valued at $28,000. Finally, EverSource Wealth Advisors LLC raised its position in Unity Software by 81.5% during the third quarter. EverSource Wealth Advisors LLC now owns 1,187 shares of the company’s stock valued at $48,000 after buying an additional 533 shares during the period. Institutional investors and hedge funds own 73.46% of the company’s stock.

Unity Software Stock Up 1.4%

Unity Software stock opened at $20.31 on Thursday. 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 Inc. has a fifty-two week low of $15.33 and a fifty-two week high of $52.15. The firm has a fifty day moving average price of $32.95 and a two-hundred day moving average price of $38.19. The firm has a market cap of $8.79 billion, a price-to-earnings ratio of -21.16, a P/E/G ratio of 10.74 and a beta of 2.14.

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

Insider Activity

In related news, COO Alexander Blum sold 10,164 shares of the stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $18.07, for a total transaction of $183,663.48. Following the completion of the sale, the chief operating officer owned 550,966 shares in the company, valued at $9,955,955.62. This trade represents a 1.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Tomer Bar-Zeev sold 125,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $50.85, for a total transaction of $6,356,250.00. Following the sale, the director directly owned 923,146 shares of the company’s stock, valued at approximately $46,941,974.10. The trade was a 11.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 933,233 shares of company stock valued at $45,387,419. 3.61% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts recently commented on the stock. Wedbush decreased their price target on shares of Unity Software from $37.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, February 12th. Citizens Jmp decreased their target price on shares of Unity Software from $50.00 to $37.00 and set a “market outperform” rating for the company in a research note on Thursday, February 12th. Citigroup dropped their price target on shares of Unity Software from $52.00 to $43.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. Wells Fargo & Company cut their price objective on Unity Software from $54.00 to $38.00 and set an “overweight” rating for the company in a report on Thursday, February 12th. Finally, Oppenheimer upgraded Unity Software from a “market perform” rating to an “outperform” rating and set a $38.00 target price on the stock in a research note on Tuesday, February 10th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Unity Software presently 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.