Algert Global LLC Makes New $1.73 Million Investment in Unity Software Inc. (NYSE:U)

Algert Global LLC acquired a new stake in Unity Software Inc. (NYSE:U - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 76,620 shares of the company's stock, valued at approximately $1,733,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Magnetar Financial LLC purchased a new position in Unity Software in the second quarter worth approximately $2,535,000. CIBC Asset Management Inc grew its stake in shares of Unity Software by 2,665.4% during the third quarter. CIBC Asset Management Inc now owns 342,472 shares of the company's stock worth $7,747,000 after purchasing an additional 330,088 shares in the last quarter. LMR Partners LLP acquired a new position in shares of Unity Software during the third quarter worth $611,000. Price T Rowe Associates Inc. MD raised its stake in Unity Software by 187.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 353,516 shares of the company's stock valued at $9,440,000 after buying an additional 230,696 shares in the last quarter. Finally, Creative Planning lifted its holdings in Unity Software by 111.7% during the 2nd quarter. Creative Planning now owns 135,195 shares of the company's stock worth $2,198,000 after buying an additional 71,325 shares during the last quarter. 73.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on U. JMP Securities restated a "market perform" rating on shares of Unity Software in a report on Friday, September 13th. The Goldman Sachs Group cut their target price on Unity Software from $26.00 to $22.50 and set a "neutral" rating on the stock in a research report on Friday, August 9th. Wedbush upped their target price on Unity Software from $21.00 to $27.00 and gave the company an "outperform" rating in a research report on Monday, September 16th. Barclays lifted their price target 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, Piper Sandler restated a "neutral" rating and set a $17.00 target price (down from $25.00) on shares of Unity Software in a research report on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Unity Software presently has an average rating of "Hold" and an average target price of $23.35.

Insider Buying and Selling

In other news, CFO Mark Barrysmith sold 8,112 shares of the business's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $24.38, for a total transaction of $197,770.56. Following the sale, the chief financial officer now owns 454,866 shares of the company's stock, valued at $11,089,633.08. The trade was a 1.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Felix The sold 30,000 shares of the firm's stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $17.89, for a total value of $536,700.00. Following the completion of the transaction, the senior vice president now directly owns 423,679 shares of the company's stock, valued at $7,579,617.31. The trade was a 6.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 554,381 shares of company stock valued at $10,631,723 over the last quarter. Company insiders own 6.30% of the company's stock.

Unity Software Stock Performance

U traded up $0.11 during trading on Thursday, reaching $23.47. The company's stock had a trading volume of 6,186,273 shares, compared to its average volume of 10,596,975. The company has a market capitalization of $9.45 billion, a price-to-earnings ratio of -11.51 and a beta of 2.29. The company's fifty day moving average price is $21.18 and its 200-day moving average price is $18.64. Unity Software Inc. has a 52-week low of $13.90 and a 52-week high of $43.54. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.41 and a current ratio of 2.41.

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.