Washington Capital Management Inc. Makes New Investment in Unity Software Inc. (NYSE:U)

Washington Capital Management Inc. bought a new stake in Unity Software Inc. (NYSE:U - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 200,000 shares of the company's stock, valued at approximately $178,000. Washington Capital Management Inc. owned about 0.05% of Unity Software as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Advisors Asset Management Inc. grew its position in Unity Software by 31.6% during the 1st quarter. Advisors Asset Management Inc. now owns 2,338 shares of the company's stock worth $62,000 after acquiring an additional 562 shares during the last quarter. Bouvel Investment Partners LLC increased its stake in shares of Unity Software by 2.7% in the first quarter. Bouvel Investment Partners LLC now owns 22,783 shares of the company's stock valued at $608,000 after buying an additional 597 shares during the period. Tradewinds Capital Management LLC grew its holdings in Unity Software by 245.6% during the 1st 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. Arkadios Wealth Advisors raised its stake in shares of Unity Software by 8.3% during the first quarter. Arkadios Wealth Advisors now owns 12,043 shares of the company's stock valued at $322,000 after acquiring an additional 924 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in Unity Software by 343.8% in the third quarter. GAMMA Investing LLC now owns 1,225 shares of the company's stock valued at $28,000 after purchasing an additional 949 shares during the period. Institutional investors and hedge funds own 73.46% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on U shares. Piper Sandler reaffirmed a "neutral" rating and issued a $17.00 price objective (down from $25.00) on shares of Unity Software in a research note on Friday, August 9th. Stifel Nicolaus raised their target price on Unity Software from $20.00 to $25.00 and gave the stock a "buy" rating in a research note on Friday, September 13th. Benchmark cut their price target on Unity Software from $16.00 to $10.00 and set a "sell" rating on the stock in a report on Friday, August 9th. Morgan Stanley upgraded shares of Unity Software from an "equal weight" rating to an "overweight" rating and set a $22.00 price objective for the company in a research note on Tuesday, September 3rd. Finally, The Goldman Sachs Group dropped their target price on shares of Unity Software from $26.00 to $22.50 and set a "neutral" rating on the stock in a research report on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Unity Software currently has a consensus rating of "Hold" and an average target price of $24.21.

Unity Software Price Performance

Shares of U traded up $0.05 during midday trading on Tuesday, reaching $21.97. The stock had a trading volume of 10,750,705 shares, compared to its average volume of 10,548,041. The company has a market capitalization of $8.59 billion, a price-to-earnings ratio of -9.81 and a beta of 2.28. The company's 50-day moving average is $18.75 and its 200 day moving average is $19.40. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 0.70. Unity Software Inc. has a 12-month low of $13.90 and a 12-month high of $43.54.

Unity Software (NYSE:U - Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.12. Unity Software had a negative net margin of 38.52% and a negative return on equity of 8.78%. The business had revenue of $449.30 million during the quarter, compared to analysts' expectations of $438.37 million. During the same quarter in the prior year, the company posted ($0.26) EPS. The firm's revenue for the quarter was down 15.8% compared to the same quarter last year. On average, equities analysts predict that Unity Software Inc. will post -1.86 EPS for the current fiscal year.

Insider Activity at Unity Software

In other news, Director David Helgason sold 250,000 shares of the business's stock in a transaction on 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 completion of the sale, the director now owns 8,201,851 shares of the company's stock, valued at $168,876,112.09. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director David Helgason sold 250,000 shares of the firm'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 in the company, valued at $168,876,112.09. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Anirma Gupta sold 1,506 shares of the stock in a transaction on Monday, July 29th. The shares were sold at an average price of $16.73, for a total transaction of $25,195.38. Following the transaction, the senior vice president now owns 409,540 shares of the company's stock, valued at $6,851,604.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 283,906 shares of company stock valued at $5,753,611 over the last ninety days. 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.