Teacher Retirement System of Texas Takes $27.90 Million Position in Unity Software Inc. (NYSE:U)

Teacher Retirement System of Texas bought a new position in Unity Software Inc. (NYSE:U - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm bought 1,424,300 shares of the company's stock, valued at approximately $27,902,000. Teacher Retirement System of Texas owned approximately 0.34% of Unity Software as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of U. Vanguard Group Inc. raised its stake in shares of Unity Software by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 31,123,035 shares of the company's stock worth $699,335,000 after purchasing an additional 625,872 shares during the last quarter. Capital International Investors grew its holdings in Unity Software by 10.4% during the fourth quarter. Capital International Investors now owns 18,886,853 shares of the company's stock worth $424,388,000 after buying an additional 1,786,032 shares in the last quarter. Norges Bank bought a new stake in Unity Software during the fourth quarter worth $269,320,000. Geode Capital Management LLC raised its position in Unity Software by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 4,769,609 shares of the company's stock valued at $107,208,000 after buying an additional 84,480 shares during the last quarter. Finally, Slate Path Capital LP bought a new position in Unity Software during the 4th quarter valued at $62,387,000. Institutional investors and hedge funds own 73.46% of the company's stock.

Unity Software Trading Up 7.6%

Shares of U stock traded up $1.86 during trading hours on Friday, reaching $26.14. The company's stock had a trading volume of 14,056,677 shares, compared to its average volume of 11,564,303. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 0.70. Unity Software Inc. has a one year low of $13.90 and a one year high of $30.88. The stock has a market capitalization of $10.86 billion, a P/E ratio of -23.33 and a beta of 2.29. The firm's fifty day simple moving average is $23.14 and its 200 day simple moving average is $22.31.

Unity Software (NYSE:U - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.38) by $0.19. The company had revenue of $435.00 million for the quarter, compared to analysts' expectations of $415.77 million. Unity Software had a negative net margin of 25.21% and a negative return on equity of 14.12%. Unity Software's quarterly revenue was down 5.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.28 earnings per share. Equities research analysts expect that Unity Software Inc. will post -1.25 EPS for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on U. Morgan Stanley decreased their price objective on shares of Unity Software from $32.00 to $25.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Citizens Jmp raised shares of Unity Software from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 11th. Stifel Nicolaus lowered their price target on shares of Unity Software from $35.00 to $28.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Macquarie assumed coverage on Unity Software in a research note on Monday, March 10th. They issued a "neutral" rating and a $24.00 price objective on the stock. Finally, Barclays decreased their target price on Unity Software from $26.00 to $25.00 and set an "equal weight" rating for the company in a research report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, six have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $24.47.

Insiders Place Their Bets

In related news, SVP Anirma Gupta sold 46,957 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $21.24, for a total transaction of $997,366.68. Following the completion of the transaction, the senior vice president owned 644,952 shares of the company's stock, valued at $13,698,780.48. This trade represents a 6.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David Helgason sold 261,473 shares of the company's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $25.70, for a total transaction of $6,719,856.10. Following the completion of the transaction, the director owned 7,489,173 shares in the company, valued at approximately $192,471,746.10. The trade was a 3.37% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,127,944 shares of company stock valued at $27,166,375. Insiders own 3.61% 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.