Primecap Management Co. CA Purchases 91,726 Shares of Unity Software Inc. (NYSE:U)

Primecap Management Co. CA raised its position in shares of Unity Software Inc. (NYSE:U) by 13.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 758,453 shares of the company’s stock after buying an additional 91,726 shares during the quarter. Primecap Management Co. CA’s holdings in Unity Software were worth $12,332,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Principal Securities Inc. bought a new stake in shares of Unity Software in the 4th quarter worth about $37,000. Tidemark LLC purchased a new position in Unity Software in the fourth quarter worth about $39,000. Tradewinds Capital Management LLC increased its stake in Unity Software by 245.6% during the first quarter. Tradewinds Capital Management LLC now owns 985 shares of the company’s stock worth $26,000 after acquiring an additional 700 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its position in Unity Software by 2,429.3% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,037 shares of the company’s stock valued at $28,000 after purchasing an additional 996 shares during the period. Finally, Advisors Asset Management Inc. lifted its stake in shares of Unity Software by 31.6% in the 1st quarter. Advisors Asset Management Inc. now owns 2,338 shares of the company’s stock valued at $62,000 after purchasing an additional 562 shares during the last quarter. Institutional investors own 73.46% of the company’s stock.

Unity Software Stock Down 1.9 %

Shares of NYSE U opened at $20.23 on Thursday. Unity Software Inc. has a 52-week low of $13.90 and a 52-week high of $43.54. The firm has a market capitalization of $8.03 billion, a price-to-earnings ratio of -9.03 and a beta of 2.25. The stock has a 50 day moving average price of $16.72 and a 200 day moving average price of $20.14. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.36 and a current ratio of 2.36.

Unity Software (NYSE:U) last issued its earnings results on Thursday, August 8th. The company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.12. The business had revenue of $449.30 million during the quarter, compared to analysts’ expectations of $438.37 million. Unity Software had a negative return on equity of 8.78% and a negative net margin of 38.52%. The business’s revenue for the quarter was down 15.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.26) EPS. Sell-side analysts expect that Unity Software Inc. will post -1.86 earnings per share for the current year.

Insider Buying and Selling

In other Unity Software news, Director David Helgason sold 250,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $20.59, for a total transaction of $5,147,500.00. Following the transaction, the director now owns 8,201,851 shares of the company’s stock, valued at approximately $168,876,112.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Unity Software news, SVP Felix The sold 30,000 shares of Unity Software stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $17.89, for a total value of $536,700.00. Following the transaction, the senior vice president now owns 423,679 shares in the company, valued at $7,579,617.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David Helgason sold 250,000 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $20.59, for a total transaction of $5,147,500.00. Following the completion of the transaction, the director now owns 8,201,851 shares of the company’s stock, valued at $168,876,112.09. The disclosure for this sale can be found here. Insiders sold a total of 285,472 shares of company stock valued at $5,778,479 over the last three months. 6.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on U shares. Piper Sandler reissued a “neutral” rating and set a $17.00 target price (down previously from $25.00) on shares of Unity Software in a research report on Friday, August 9th. JMP Securities reiterated a “market perform” rating on shares of Unity Software in a research report on Friday, September 13th. Wedbush raised their target price on shares of Unity Software from $21.00 to $27.00 and gave the stock an “outperform” rating in a report on Monday. Macquarie lifted their price target on shares of Unity Software from $12.00 to $15.00 and gave the stock an “underperform” rating in a research note on Tuesday. Finally, Needham & Company LLC reduced their price objective on shares of Unity Software from $31.00 to $23.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $27.46.

Unity Software Profile

Unity Software Inc operates a real-time 3D development platform. Its platform provides software solutions to create, run, and monetize interactive, real-time 2D and 3D content for mobile phones, tablets, PCs, consoles, and augmented and virtual reality devices. The company offers its solutions directly through its online store and field sales operations in North America, Denmark, Finland, the United Kingdom, Germany, Japan, China, Singapore, and South Korea, as well as indirectly through independent distributors and resellers worldwide.