Jessup Wealth Management Inc Acquires New Stake in Unity Software Inc. (NYSE:U)

Jessup Wealth Management Inc bought a new position in Unity Software Inc. (NYSE:U) during the 4th quarter, Holdings Channel reports. The institutional investor bought 22,682 shares of the company’s stock, valued at approximately $510,000.

A number of other institutional investors have also recently modified their holdings of the stock. CWM LLC grew its holdings in shares of Unity Software by 19.6% during the third quarter. CWM LLC now owns 11,243 shares of the company’s stock valued at $254,000 after buying an additional 1,845 shares during the last quarter. Creative Planning boosted its stake in Unity Software by 13.7% during the 3rd quarter. Creative Planning now owns 153,742 shares of the company’s stock valued at $3,478,000 after purchasing an additional 18,547 shares during the last quarter. Stratos Wealth Advisors LLC purchased a new stake in Unity Software during the 3rd quarter valued at $418,000. Blue Trust Inc. raised its stake in shares of Unity Software by 54.0% in the third quarter. Blue Trust Inc. now owns 4,810 shares of the company’s stock worth $109,000 after purchasing an additional 1,687 shares during the last quarter. Finally, Signaturefd LLC lifted its holdings in shares of Unity Software by 106.1% during the third quarter. Signaturefd LLC now owns 4,081 shares of the company’s stock valued at $92,000 after purchasing an additional 2,101 shares in the last quarter. 73.46% of the stock is owned by hedge funds and other institutional investors.

Unity Software Price Performance

NYSE U opened at $21.48 on Thursday. Unity Software Inc. has a 52 week low of $13.90 and a 52 week high of $33.43. 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 company has a fifty day moving average of $22.42 and a two-hundred day moving average of $20.94.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on U shares. JMP Securities restated a “market perform” rating on shares of Unity Software in a research note on Monday, February 3rd. Benchmark increased their price objective on shares of Unity Software from $10.00 to $15.00 and gave the company a “sell” rating in a research report on Friday, November 8th. Macquarie lifted their target price on shares of Unity Software from $15.00 to $16.00 and gave the stock an “underperform” rating in a research report on Friday, November 8th. Barclays increased their price target on Unity Software from $16.00 to $18.00 and gave the company an “equal weight” rating in a report on Friday, November 8th. Finally, Jefferies Financial Group lifted their price objective on Unity Software from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $22.81.

Insider Activity at Unity Software

In other news, CFO Mark Barrysmith sold 8,112 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $24.38, for a total transaction of $197,770.56. Following the transaction, the chief financial officer now directly owns 454,866 shares of the company’s stock, valued at approximately $11,089,633.08. This trade represents a 1.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Tomer Bar-Zeev sold 166,667 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $20.99, for a total value of $3,498,340.33. Following the transaction, the director now owns 3,481,479 shares in the company, valued at $73,076,244.21. The trade was a 4.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 679,264 shares of company stock worth $16,612,383. Insiders own 6.30% of the company’s stock.

Unity Software 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.