Vident Advisory LLC Acquires Shares of 10,190 Unity Software Inc. $U

Key Points

• Vident Advisory LLC acquired 10,190 shares of Unity Software Inc., valued at approximately $200,000, in the first quarter, contributing to a trend of increasing institutional investment in the company.
• Analysts have issued varied ratings on Unity Software, with Citigroup raising its target price from $29.00 to $44.00, while Zacks downgraded the stock from a "strong-buy" to a "hold" rating.
• Unity Software reported earnings per share of ($0.26) for the last quarter, missing estimates, while its revenue of $440.94 million exceeded expectations, reflecting a 1.9% decline compared to the previous year.

Vident Advisory LLC purchased a new position in shares of Unity Software Inc. (NYSE:U - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,190 shares of the company's stock, valued at approximately $200,000.

Several other institutional investors have also recently added to or reduced their stakes in U. Broad Peak Investment Advisers Pte Ltd bought a new position in shares of Unity Software during the first quarter worth about $47,648,000. Fuller & Thaler Asset Management Inc. bought a new position in Unity Software during the 1st quarter worth approximately $43,265,000. Vanguard Group Inc. grew its position in shares of Unity Software by 5.9% in the 1st quarter. Vanguard Group Inc. now owns 32,964,521 shares of the company's stock worth $645,775,000 after acquiring an additional 1,841,486 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Unity Software by 89.7% in the 1st quarter. Ameriprise Financial Inc. now owns 3,357,530 shares of the company's stock valued at $65,778,000 after acquiring an additional 1,587,582 shares during the last quarter. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Unity Software during the 1st quarter valued at approximately $27,902,000. 73.46% of the stock is owned by institutional investors and hedge funds.

Unity Software Stock Performance

Shares of U stock traded down $0.64 during mid-day trading on Tuesday, reaching $45.89. The stock had a trading volume of 10,393,083 shares, compared to its average volume of 10,896,762. Unity Software Inc. has a one year low of $15.33 and a one year high of $46.94. The firm has a market cap of $19.39 billion, a PE ratio of -43.29 and a beta of 2.33. The firm's 50 day simple moving average is $36.81 and its 200 day simple moving average is $27.26. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.70.

Unity Software (NYSE:U - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.25) by ($0.01). The firm had revenue of $440.94 million for the quarter, compared to the consensus estimate of $425.18 million. Unity Software had a negative net margin of 24.38% and a negative return on equity of 13.59%. The business's revenue for the quarter was down 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.32) earnings per share. On average, analysts forecast that Unity Software Inc. will post -1.25 EPS for the current year.

Insider Activity at Unity Software

In other Unity Software news, Director David Helgason sold 1,350,000 shares of the firm's stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $44.43, for a total transaction of $59,980,500.00. Following the completion of the transaction, the director owned 6,139,173 shares in the company, valued at $272,763,456.39. This trade represents a 18.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Matthew S. Bromberg sold 120,000 shares of Unity Software stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $40.03, for a total value of $4,803,600.00. Following the sale, the chief executive officer directly owned 1,222,812 shares in the company, valued at $48,949,164.36. The trade was a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,983,781 shares of company stock worth $82,548,778 in the last ninety days. Company insiders own 3.61% of the company's stock.

Wall Street Analysts Forecast Growth

U has been the subject of several recent research reports. Citigroup boosted their target price on shares of Unity Software from $29.00 to $44.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Needham & Company LLC boosted their price objective on shares of Unity Software from $30.00 to $40.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. UBS Group raised their target price on shares of Unity Software from $22.00 to $33.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Wells Fargo & Company lifted their target price on Unity Software from $24.00 to $29.00 and gave the company an "equal weight" rating in a research note on Thursday, August 7th. Finally, Zacks Research cut Unity Software from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, Unity Software currently has a consensus rating of "Moderate Buy" and a consensus price target of $31.20.

Unity Software Company 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.