Entropy Technologies LP Lowers Stock Position in Unity Software Inc. (NYSE:U)

Entropy Technologies LP reduced its position in shares of Unity Software Inc. (NYSE:U) by 64.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 49,208 shares of the company’s stock after selling 88,529 shares during the period. Entropy Technologies LP’s holdings in Unity Software were worth $1,106,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in U. GAMMA Investing LLC grew its position in Unity Software by 343.8% during the third quarter. GAMMA Investing LLC now owns 1,225 shares of the company’s stock valued at $28,000 after buying an additional 949 shares during the period. R Squared Ltd purchased a new position in Unity Software in the fourth quarter valued at about $30,000. Planning Capital Management Corp bought a new position in shares of Unity Software during the 3rd quarter valued at approximately $34,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of Unity Software by 163.0% during 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 last quarter. Finally, Brooklyn Investment Group bought a new stake in shares of Unity Software in the 3rd quarter worth approximately $43,000. 73.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

U has been the subject of several research reports. Barclays increased their price objective on Unity Software from $16.00 to $18.00 and gave the company an “equal weight” rating in a report on Friday, November 8th. Macquarie boosted their price objective on Unity Software from $15.00 to $16.00 and gave the company an “underperform” rating in a research note on Friday, November 8th. Jefferies Financial Group increased their target price on shares of Unity Software from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Wells Fargo & Company assumed coverage on shares of Unity Software in a research report on Monday, October 28th. They issued an “equal weight” rating and a $20.00 price target on the stock. Finally, UBS Group lifted their price objective on shares of Unity Software from $21.00 to $23.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Unity Software has an average rating of “Hold” and an average target price of $22.81.

Unity Software Price Performance

Unity Software stock opened at $20.40 on Tuesday. The stock has a market cap of $8.22 billion, a price-to-earnings ratio of -10.00 and a beta of 2.32. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.70. The business has a 50-day simple moving average of $23.30 and a 200 day simple moving average of $20.70. Unity Software Inc. has a 52 week low of $13.90 and a 52 week high of $35.56.

Insider Activity

In related news, Director David Helgason sold 7,860 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $26.45, for a total value of $207,897.00. Following the transaction, the director now owns 10,493 shares of the company’s stock, valued at $277,539.85. This represents a 42.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Tomer Bar-Zeev sold 250,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $17.52, for a total value of $4,380,000.00. Following the sale, the director now owns 4,248,146 shares in the company, valued at $74,427,517.92. The trade was a 5.56 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 931,154 shares of company stock worth $21,019,520. 6.30% of the stock is currently owned by insiders.

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.