Boothbay Fund Management LLC Raises Stake in Unity Software Inc. $U

Boothbay Fund Management LLC grew its position in Unity Software Inc. (NYSE:U – Free Report) by 60.3% during the 4th quarter, Holdings Channel reports. The fund owned 210,580 shares of the company’s stock after buying an additional 79,198 shares during the quarter. Boothbay Fund Management LLC’s holdings in Unity Software were worth $9,301,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in U. REAP Financial Group LLC purchased a new stake in shares of Unity Software in the fourth quarter valued at about $28,000. Larson Financial Group LLC boosted its holdings in shares of Unity Software by 88.1% in the third quarter. Larson Financial Group LLC now owns 728 shares of the company’s stock valued at $29,000 after acquiring an additional 341 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Unity Software in the fourth quarter valued at about $30,000. IFP Advisors Inc purchased a new stake in shares of Unity Software in the third quarter valued at about $33,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of Unity Software in the fourth quarter valued at about $36,000. Hedge funds and other institutional investors own 73.46% of the company’s stock.

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Unity Software Stock Down 5.6%

U stock opened at $26.48 on Thursday. The company has a market cap of $11.56 billion, a P/E ratio of -16.87, a P/E/G ratio of 3.59 and a beta of 2.06. Unity Software Inc. has a 52 week low of $16.78 and a 52 week high of $52.15. The company’s 50-day moving average price is $26.64 and its 200 day moving average price is $30.36. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.56.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on U shares. Wedbush lifted their target price on shares of Unity Software from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Needham & Company LLC lifted their target price on shares of Unity Software from $35.00 to $40.00 and gave the company a “buy” rating in a report on Friday, May 8th. BTIG Research lifted their target price on shares of Unity Software from $39.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Citigroup lowered their target price on shares of Unity Software from $43.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, April 30th. Finally, Piper Sandler assumed coverage on shares of Unity Software in a report on Tuesday, June 2nd. They issued an “overweight” rating and a $40.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $37.71.

Read Our Latest Stock Report on Unity Software

Insider Activity

In related news, COO Alexander Blum sold 2,099 shares of the business’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $27.37, for a total transaction of $57,449.63. Following the sale, the chief operating officer owned 727,970 shares of the company’s stock, valued at approximately $19,924,538.90. The trade was a 0.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Mark Barrysmith sold 13,247 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $27.18, for a total transaction of $360,053.46. Following the sale, the chief accounting officer directly owned 370,654 shares in the company, valued at approximately $10,074,375.72. This represents a 3.45% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 198,321 shares of company stock valued at $5,390,783 in the last quarter. Insiders own 0.77% of the company’s stock.

Unity Software Company Profile

(Free Report)

Unity Software is a leading provider of a real-time 3D development platform that enables creators across industries to design, build and operate interactive, real-time experiences. Originally focused on the game development market, Unity’s technology now extends into sectors such as film, automotive, architecture, engineering and construction, delivering immersive content for mobile, desktop, console, augmented reality and virtual reality devices. The company’s core offering comprises a suite of authoring tools, runtime engines and cloud services that streamline the creation and deployment of interactive 3D applications.

The Unity Editor serves as the central hub where developers design scenes, script behavior and iterate on assets.

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