10,190 Shares in Unity Software Inc. $U Acquired by Vident Advisory LLC

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 Unity Software Inc. (NYSE:U - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 10,190 shares of the company's stock, valued at approximately $200,000.

Other hedge funds also recently made changes to their positions in the company. Broad Peak Investment Advisers Pte Ltd acquired a new position in shares of Unity Software during the first quarter worth $47,648,000. Fuller & Thaler Asset Management Inc. purchased a new stake in Unity Software during the 1st quarter worth $43,265,000. Vanguard Group Inc. lifted its holdings in 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 buying an additional 1,841,486 shares in the last quarter. Ameriprise Financial Inc. boosted its position in 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 buying an additional 1,587,582 shares during the last quarter. Finally, Teacher Retirement System of Texas purchased a new position in Unity Software in the 1st quarter valued at about $27,902,000. Hedge funds and other institutional investors own 73.46% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on U. Citigroup lifted their target price on Unity Software from $29.00 to $44.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Morgan Stanley raised their price objective on Unity Software from $25.00 to $40.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. UBS Group lifted their price objective on Unity Software from $22.00 to $33.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Jefferies Financial Group upped their target price on Unity Software from $29.00 to $35.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Finally, Zacks Research downgraded shares of 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 given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $31.20.

Insider Activity

In other Unity Software news, CFO Jarrod Yahes sold 29,876 shares of the stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $39.32, for a total transaction of $1,174,724.32. Following the transaction, the chief financial officer owned 638,504 shares in the company, valued at $25,105,977.28. This trade represents a 4.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Matthew S. Bromberg sold 120,000 shares of Unity Software stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $40.03, for a total value of $4,803,600.00. Following the completion of the transaction, the chief executive officer 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. Over the last ninety days, insiders have sold 1,981,485 shares of company stock valued at $82,447,777. Insiders own 3.61% of the company's stock.

Unity Software Stock Down 5.3%

U stock opened at $43.08 on Thursday. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.73 and a quick ratio of 2.73. Unity Software Inc. has a 52-week low of $15.33 and a 52-week high of $46.00. The company's 50 day simple moving average is $35.42 and its 200-day simple moving average is $26.75. The firm has a market capitalization of $18.20 billion, a P/E ratio of -40.65 and a beta of 2.33.

Unity Software (NYSE:U - Get Free Report) last posted its quarterly earnings results 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 company had revenue of $440.94 million during the quarter, compared to analysts' expectations of $425.18 million. Unity Software had a negative return on equity of 13.59% and a negative net margin of 24.38%.Unity Software's revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period last year, the company earned ($0.32) earnings per share. As a group, equities research analysts anticipate that Unity Software Inc. will post -1.25 EPS for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.