50,370 Shares in Unity Software Inc. (NYSE:U) Bought by Moors & Cabot Inc.

Key Points

• Moors & Cabot Inc. acquired 50,370 shares of Unity Software Inc. worth approximately $987,000 in the first quarter of the year, as reported in their recent SEC filing.
• Unity Software's shares have seen a significant amount of insider selling, with directors selling 50,000 shares recently, indicating a 2.13% and 20.91% decrease in their ownership.
• Current market analysts have mixed ratings on Unity Software, with a consensus rating of "Hold" and a price target ranging from $25.00 to $44.00, reflecting different outlooks on the company's stock performance.

Moors & Cabot Inc. acquired a new position in shares of Unity Software Inc. (NYSE:U - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 50,370 shares of the company's stock, valued at approximately $987,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in U. Janney Montgomery Scott LLC grew its holdings in shares of Unity Software by 116.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 29,085 shares of the company's stock valued at $570,000 after acquiring an additional 15,633 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new position in shares of Unity Software during the 1st quarter valued at $433,000. GAMMA Investing LLC grew its holdings in shares of Unity Software by 72.5% during the 1st quarter. GAMMA Investing LLC now owns 2,822 shares of the company's stock valued at $55,000 after acquiring an additional 1,186 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Unity Software during the 1st quarter valued at $2,215,000. Finally, Amalgamated Bank grew its holdings in shares of Unity Software by 3.0% during the 1st quarter. Amalgamated Bank now owns 18,132 shares of the company's stock valued at $355,000 after acquiring an additional 525 shares in the last quarter. 73.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on U. Stifel Nicolaus cut their target price on shares of Unity Software from $35.00 to $28.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Barclays cut their target price on shares of 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. Morgan Stanley cut their price objective on shares of Unity Software from $32.00 to $25.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Citigroup upped their price objective on shares of Unity Software from $29.00 to $44.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Finally, Jefferies Financial Group upped their price objective on shares of Unity Software from $29.00 to $35.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $27.22.

Unity Software Stock Up 0.5%

Unity Software stock traded up $0.18 during mid-day trading on Tuesday, reaching $34.19. The company's stock had a trading volume of 2,704,311 shares, compared to its average volume of 12,073,270. The company has a market capitalization of $14.21 billion, a price-to-earnings ratio of -30.68 and a beta of 2.32. Unity Software Inc. has a 12 month low of $13.90 and a 12 month high of $38.96. The business's 50 day simple moving average is $27.77 and its 200 day simple moving average is $23.72. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.74 and a current ratio of 2.74.

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

Insider Transactions at Unity Software

In other news, Director Tomer Bar-Zeev sold 50,000 shares of the company's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $32.97, for a total transaction of $1,648,500.00. Following the completion of the sale, the director owned 2,298,146 shares of the company's stock, valued at approximately $75,769,873.62. This represents a 2.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Matthew S. Bromberg sold 133,072 shares of the company'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 $2,826,449.28. Following the sale, the chief executive officer directly owned 1,222,812 shares of the company's stock, valued at approximately $25,972,526.88. This trade represents a 9.81% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,110,142 shares of company stock worth $27,963,282. Company insiders own 3.61% of the company's stock.

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.