Jessup Wealth Management Inc Makes New $510,000 Investment in Unity Software Inc. (NYSE:U)

Jessup Wealth Management Inc purchased a new stake in shares of Unity Software Inc. (NYSE:U - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 22,682 shares of the company's stock, valued at approximately $510,000.

Several other hedge funds have also modified their holdings of U. Alberta Investment Management Corp acquired a new stake in Unity Software in the fourth quarter worth $2,765,000. Venturi Wealth Management LLC raised its holdings in Unity Software by 31.5% in the fourth quarter. Venturi Wealth Management LLC now owns 5,158 shares of the company's stock worth $116,000 after purchasing an additional 1,235 shares during the period. CIBC Asset Management Inc raised its holdings in Unity Software by 10.0% in the fourth quarter. CIBC Asset Management Inc now owns 376,794 shares of the company's stock worth $8,467,000 after purchasing an additional 34,322 shares during the period. Sanctuary Advisors LLC acquired a new stake in Unity Software in the fourth quarter worth $204,000. Finally, Principal Securities Inc. raised its holdings in Unity Software by 50.5% in the fourth quarter. Principal Securities Inc. now owns 1,422 shares of the company's stock worth $32,000 after purchasing an additional 477 shares during the period. 73.46% of the stock is owned by institutional investors.

Insider Transactions at Unity Software

In related news, SVP Felix The sold 11,719 shares of the company's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $24.39, for a total value of $285,826.41. Following the transaction, the senior vice president now owns 411,960 shares in the company, valued at approximately $10,047,704.40. This represents a 2.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark Barrysmith sold 1,228 shares of the company's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $24.44, for a total transaction of $30,012.32. Following the completion of the transaction, the chief financial officer now owns 453,638 shares in the company, valued at approximately $11,086,912.72. This trade represents a 0.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 762,597 shares of company stock worth $18,732,374 in the last ninety days. Insiders own 6.30% of the company's stock.

Analyst Upgrades and Downgrades

U has been the topic of several analyst reports. Wells Fargo & Company increased their target price on shares of Unity Software from $20.00 to $27.00 and gave the stock an "equal weight" rating in a report on Friday. Jefferies Financial Group raised their price objective on shares of Unity Software from $23.00 to $28.00 and gave the stock a "hold" rating in a report on Friday. HSBC upgraded shares of Unity Software from a "hold" rating to a "buy" rating and set a $34.00 price objective on the stock in a report on Friday. UBS Group raised their price objective on shares of Unity Software from $21.00 to $23.00 and gave the stock a "neutral" rating in a report on Wednesday, January 22nd. Finally, Barclays raised their price objective on shares of Unity Software from $18.00 to $26.00 and gave the stock an "equal weight" rating in a report on Friday. One analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $25.96.

Unity Software Stock Performance

Shares of Unity Software stock traded up $0.30 during trading on Friday, hitting $28.30. 34,331,249 shares of the stock were exchanged, compared to its average volume of 11,551,494. The stock has a market capitalization of $11.40 billion, a price-to-earnings ratio of -13.90 and a beta of 2.32. The company has a fifty day moving average price of $22.45 and a 200-day moving average price of $20.99. Unity Software Inc. has a 1-year low of $13.90 and a 1-year high of $33.43. 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 - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.05. The company had revenue of $457.10 million for the quarter, compared to analyst estimates of $433.47 million. Unity Software had a negative net margin of 40.47% and a negative return on equity of 11.30%. As a group, equities analysts predict that Unity Software Inc. will post -1.72 EPS for the current fiscal year.

Unity Software Company 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.