Encompass More Asset Management Invests $1.50 Million in Unity Software Inc. (NYSE:U)

Encompass More Asset Management acquired a new position in Unity Software Inc. (NYSE:U) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 66,779 shares of the company’s stock, valued at approximately $1,501,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in shares of Unity Software by 343.8% during the third quarter. GAMMA Investing LLC now owns 1,225 shares of the company’s stock worth $28,000 after acquiring an additional 949 shares in the last quarter. Planning Capital Management Corp bought a new stake in shares of Unity Software during the 3rd quarter valued at $34,000. Brooklyn Investment Group purchased a new stake in Unity Software during the 3rd quarter worth about $43,000. Northwestern Mutual Wealth Management Co. boosted its stake in Unity Software by 163.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,241 shares of the company’s stock worth $36,000 after purchasing an additional 1,389 shares during the period. Finally, Versant Capital Management Inc grew its holdings in Unity Software by 186.9% during the 4th quarter. Versant Capital Management Inc now owns 2,812 shares of the company’s stock valued at $63,000 after buying an additional 1,832 shares in the last quarter. 73.46% of the stock is currently owned by institutional investors.

Unity Software Stock Performance

Shares of NYSE U opened at $23.33 on Friday. The stock’s 50-day moving average is $23.29 and its 200 day moving average is $20.23. The stock has a market cap of $9.40 billion, a price-to-earnings ratio of -11.39 and a beta of 2.32. Unity Software Inc. has a 1-year low of $13.90 and a 1-year high of $35.56. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.70.

Unity Software (NYSE:U) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.31) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.08. The firm had revenue of $446.52 million for the quarter, compared to the consensus estimate of $428.01 million. Unity Software had a negative net margin of 40.47% and a negative return on equity of 11.30%. During the same period last year, the firm posted ($0.12) earnings per share. On average, sell-side analysts anticipate that Unity Software Inc. will post -1.72 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Felix The sold 20,000 shares of Unity Software stock in a transaction on Friday, December 6th. The shares were sold at an average price of $27.43, for a total value of $548,600.00. Following the transaction, the senior vice president now directly owns 391,960 shares of the company’s stock, valued at $10,751,462.80. The trade was a 4.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Tomer Bar-Zeev sold 250,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $17.52, for a total transaction of $4,380,000.00. Following the transaction, the director now directly owns 4,248,146 shares of the company’s stock, valued at approximately $74,427,517.92. This trade represents a 5.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 764,487 shares of company stock worth $17,521,180 in the last 90 days. 6.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

U has been the topic of a number of recent analyst reports. Jefferies Financial Group increased their price target on shares of Unity Software from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Morgan Stanley raised their price target on shares of Unity Software from $24.00 to $26.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Benchmark upped their price target on shares of Unity Software from $10.00 to $15.00 and gave the stock a “sell” rating in a report on Friday, November 8th. Barclays increased their price objective on Unity Software from $16.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Friday, November 8th. Finally, Wells Fargo & Company began coverage on Unity Software in a research report on Monday, October 28th. They set an “equal weight” rating and a $20.00 target price for the company. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $22.81.

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.