Primecap Management Co. CA Has $14.86 Million Position in Unity Software Inc. (NYSE:U)

Primecap Management Co. CA lessened its holdings in shares of Unity Software Inc. (NYSE:U) by 18.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 661,294 shares of the company’s stock after selling 150,700 shares during the period. Primecap Management Co. CA owned 0.16% of Unity Software worth $14,859,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GSA Capital Partners LLP bought a new stake in shares of Unity Software in the 3rd quarter valued at about $380,000. LMR Partners LLP bought a new stake in Unity Software in the third quarter valued at approximately $611,000. Charles Schwab Investment Management Inc. raised its holdings in Unity Software by 100.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,886,016 shares of the company’s stock worth $42,662,000 after purchasing an additional 944,709 shares during the period. Cerity Partners LLC boosted its position in shares of Unity Software by 45.1% during the third quarter. Cerity Partners LLC now owns 78,478 shares of the company’s stock worth $1,775,000 after purchasing an additional 24,406 shares in the last quarter. Finally, Algert Global LLC acquired a new position in shares of Unity Software in the 3rd quarter valued at $1,733,000. Institutional investors own 73.46% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on U shares. Wedbush reiterated an “outperform” rating and set a $27.00 target price on shares of Unity Software in a report on Thursday, February 13th. JMP Securities reiterated a “market perform” rating on shares of Unity Software in a report on Monday, February 3rd. Benchmark raised Unity Software from a “sell” rating to a “hold” rating in a research note on Thursday, February 20th. Hsbc Global Res raised shares of Unity Software to a “strong-buy” rating in a research note on Friday, February 21st. Finally, Citigroup raised shares of Unity Software from a “neutral” rating to a “buy” rating and set a $30.00 price objective for the company in a research report on Tuesday, March 11th. Ten analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $25.61.

Unity Software Stock Performance

Shares of NYSE U opened at $21.53 on Thursday. The stock has a market capitalization of $8.82 billion, a PE ratio of -12.82 and a beta of 2.27. Unity Software Inc. has a 52 week low of $13.90 and a 52 week high of $30.88. The stock has a 50 day moving average price of $22.60 and a 200 day moving average price of $22.02. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.41 and a current ratio of 2.41.

Unity Software (NYSE:U) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.05. The company had revenue of $457.10 million during the quarter, compared to the consensus estimate of $433.47 million. Unity Software had a negative return on equity of 13.40% and a negative net margin of 36.63%. Analysts predict that Unity Software Inc. will post -1.25 earnings per share for the current fiscal year.

Insider Activity

In other Unity Software news, Director Tomer Bar-Zeev sold 236,337 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $23.92, for a total transaction of $5,653,181.04. Following the completion of the sale, the director now owns 3,161,809 shares of the company’s stock, valued at $75,630,471.28. This trade represents a 6.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Mark Barrysmith sold 1,362 shares of the company’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $21.91, for a total transaction of $29,841.42. Following the completion of the transaction, the chief accounting officer now owns 452,276 shares in the company, valued at approximately $9,909,367.16. This represents a 0.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 865,236 shares of company stock valued at $20,849,425 in the last quarter. Company insiders own 6.30% of the company’s stock.

About Unity Software

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.