Massachusetts Financial Services Co. MA lifted its stake in Unity Software Inc. (NYSE:U – Get Rating) by 2.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 182,509 shares of the company’s stock after acquiring an additional 4,423 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.06% of Unity Software worth $18,107,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Northern Oak Wealth Management Inc. acquired a new stake in shares of Unity Software in the fourth quarter worth $25,000. Rockbridge Investment Management LCC bought a new position in Unity Software in the fourth quarter worth $26,000. San Luis Wealth Advisors LLC bought a new position in Unity Software in the first quarter worth $31,000. Montag A & Associates Inc. lifted its position in Unity Software by 666.7% in the fourth quarter. Montag A & Associates Inc. now owns 230 shares of the company’s stock worth $33,000 after purchasing an additional 200 shares during the period. Finally, Tcwp LLC bought a new position in Unity Software in the first quarter worth $26,000. Institutional investors and hedge funds own 75.48% of the company’s stock.
Unity Software Price Performance
Shares of U opened at $44.58 on Friday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 3.44 and a current ratio of 3.44. The stock has a 50 day simple moving average of $42.76 and a 200 day simple moving average of $63.17. Unity Software Inc. has a 52-week low of $29.09 and a 52-week high of $210.00. The firm has a market capitalization of $13.29 billion, a PE ratio of -19.73 and a beta of 2.13.
Unity Software (NYSE:U – Get Rating) last released its earnings results on Tuesday, August 9th. The company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.03. The firm had revenue of $297.00 million for the quarter, compared to analysts’ expectations of $299.05 million. Unity Software had a negative return on equity of 22.71% and a negative net margin of 54.01%. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.34) EPS. Sell-side analysts predict that Unity Software Inc. will post -1.81 EPS for the current fiscal year.
Analyst Ratings Changes
Several brokerages recently commented on U. Piper Sandler raised their target price on Unity Software from $34.00 to $42.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 10th. Wolfe Research began coverage on Unity Software in a research report on Tuesday, August 16th. They issued an “outperform” rating and a $70.00 target price for the company. Wedbush cut their price objective on Unity Software from $125.00 to $70.00 in a report on Wednesday, May 11th. Benchmark began coverage on Unity Software in a report on Wednesday, June 15th. They set a “sell” rating and a $27.00 price objective for the company. Finally, Daiwa Capital Markets cut Unity Software from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $110.00 to $34.00 in a report on Wednesday, May 11th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $76.00.
Insider Buying and Selling at Unity Software
In other news, Director David Helgason sold 8,333 shares of the company’s stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $48.09, for a total transaction of $400,733.97. Following the sale, the director now owns 9,143,280 shares in the company, valued at approximately $439,700,335.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director David Helgason sold 8,333 shares of the company’s stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $48.09, for a total transaction of $400,733.97. Following the sale, the director now owns 9,143,280 shares in the company, valued at approximately $439,700,335.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Marc Whitten sold 5,487 shares of the business’s stock in a transaction that occurred on Wednesday, June 1st. The stock was sold at an average price of $41.01, for a total value of $225,021.87. Following the transaction, the senior vice president now directly owns 259,290 shares in the company, valued at $10,633,482.90. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,024 shares of company stock worth $781,449. Corporate insiders own 6.90% 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.
Further Reading
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