Empowered Funds LLC acquired a new stake in Unity Software Inc. (NYSE:U – FREE REPORT) during the first quarter, according to the company’s latest 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 12,410 shares of the company’s stock, valued at approximately $331,000.
Other hedge funds also recently modified their holdings of the company. The Vanguard Group increased its holdings in Unity Software by 1.2% in the fourth quarter. The Vanguard Group now owns 26,128,209 shares of the company’s stock, valued at $1,068,382,000, after acquiring an additional 308,412 shares in the last quarter. ARK Investment Management LLC increased its holdings in Unity Software by 6.2% in the fourth quarter. ARK Investment Management LLC now owns 12,189,778 shares of the company’s stock, valued at $498,440,000, after acquiring an additional 712,579 shares in the last quarter. Sumitomo Mitsui Trust Holdings increased its holdings in Unity Software by 30.4% in the first quarter. Sumitomo Mitsui Trust Holdings now holds 11,909,509 shares of the company’s stock valued at $317,984,000. It purchased an additional 2,777,884 shares in the last quarter. Nikko Asset Management Americas increased its holdings in Unity Software shares by 32.6% in the first quarter. Nikko Asset Management Americas now holds 11,326,547 shares of the company’s stock valued at $302,419,000. It purchased an additional 2,787,058 shares in the last quarter. Finally, Norges Bank acquired a new holding in Unity Software shares worth approximately $379,180,000 in the fourth quarter. Institutional investors hold 73.46% of the company’s stock.
Unity Software traded down 1.0%
The NYSE U opened at $16.21 on Friday. The company has a market capitalization of $6.34 billion, a price-to-earnings ratio of -7.24 and a beta of 2.25. Unity Software Inc.’s 52-week low is $15.15 and its 52-week high is $47.60. The company’s 50-day moving average price is $17.79 and its 200-day moving average price is $25.18. The company’s quick ratio is 2.15, current ratio is 2.15 and debt-to-equity ratio is 0.70.
Unity Software (NYSE:U – Get free report ) last released its quarterly earnings data on Thursday, May 9th. The company reported quarterly EPS of ($0.14), beating the consensus estimate of ($0.27) by $0.13. The company’s quarterly revenue was $460.38 million, beating the consensus estimate of $422.53 million. Unity Software’s ROE was -7.73% and net margin was -40.11%. Equity analysts expect Unity Software to post -1.81 earnings per share for the current fiscal year.
Insider Activities
In related news, insider Mark Whitten sold 86,768 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $20.60, for a total transaction value of $1,787,420.80. Following the completion of the sale, the insider now owns 2,483 shares of the company’s stock, valued at $51,149.80. The sale was disclosed in a Securities and Exchange Commission filing, which can be viewed at this link. In related news, insider Mark Whitten sold 86,768 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $20.60, for a total transaction value of $1,787,420.80. Following the completion of the sale, the insider now owns 2,483 shares of the company’s stock, valued at $51,149.80. The sale was disclosed in a Securities and Exchange Commission filing, which can be viewed at this link. Additionally, Senior Vice President, Anima Gupta sold 1,037 shares of the company’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $24.42, for a total value of $25,323.54. Following the sale, the Senior Vice President now owns 386,706 shares of the company’s stock, valued at approximately $9,443,360.52. The disclosure for this sale can be found here. Insiders sold a total of 246,536 shares of the company’s stock in the last quarter for $4,846,536. 6.30% of the stock is now owned by company insiders.
Analysts Set New Price Targets
Unity has been the topic of numerous research reports recently. Barclays lowered their price target on Unity Software from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Friday, May 10th. JMP Securities reaffirmed their “market perform” rating on shares of Unity Software in a research note on Friday, May 10th. Needham & Company LLC reaffirmed their “buy” rating and set a $31.00 price target on shares of Unity Software in a research note on Friday, May 10th. Stifel Nicolaus lowered their price target on Unity Software from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Monday, June 10th. Finally, Macquarie lowered their price target on Unity Software from $20.00 to $14.00 and set an “underperform” rating on the stock in a research note on Thursday, June 27th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, and nine have given a buy rating. Based on data from MarketBeat.com, the company’s current consensus rating is a “hold” and the average target price is $33.47.
View the latest research report on U
Unity Software Profiles
(Free report)
Unity Software Inc operates a real-time 3D development platform. The company’s 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 sells its solutions directly through online stores and local sales offices in North America, Denmark, Finland, United Kingdom, Germany, Japan, China, Singapore and South Korea, and indirectly through independent distributors and resellers around the world.
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