200,000 Shares in Unity Software Inc. $U Bought by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. bought a new stake in Unity Software Inc. (NYSE:U - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 200,000 shares of the company's stock, valued at approximately $3,918,000.

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

Unity Software Stock Performance

NYSE:U traded down $0.43 during trading hours on Friday, reaching $42.98. 3,344,102 shares of the stock were exchanged, compared to its average volume of 12,327,274. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.70. The firm has a 50 day simple moving average of $35.76 and a 200-day simple moving average of $26.86. Unity Software Inc. has a 52 week low of $15.33 and a 52 week high of $46.00. The stock has a market capitalization of $18.16 billion, a P/E ratio of -40.51 and a beta of 2.33.

Unity Software (NYSE:U - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported ($0.26) 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 return on equity of 13.59% and a negative net margin of 24.38%.The company's quarterly revenue was down 1.9% on a year-over-year basis. During the same period in the prior year, the business earned ($0.32) EPS. As a group, sell-side analysts forecast that Unity Software Inc. will post -1.25 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

U has been the subject of several research analyst reports. BTIG Research lowered Unity Software from a "neutral" rating to a "sell" rating and set a $25.00 price target for the company. in a research note on Wednesday, July 23rd. Jefferies Financial Group increased their target price on Unity Software from $29.00 to $35.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. UBS Group increased their target price on Unity Software from $22.00 to $33.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Bank of America initiated coverage on Unity Software in a research note on Thursday, June 26th. They issued an "underperform" rating and a $15.00 target price for the company. Finally, Wedbush increased their target price on Unity Software from $39.00 to $41.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, Unity Software presently has a consensus rating of "Moderate Buy" and a consensus price target of $31.20.

Insiders Place Their Bets

In related news, CEO Matthew S. Bromberg sold 120,000 shares of the firm's stock in a transaction that occurred on 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 sale, the chief executive officer owned 1,222,812 shares of the company's stock, valued at approximately $48,949,164.36. This trade represents a 8.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David Helgason sold 1,350,000 shares of the firm's stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $44.43, for a total value of $59,980,500.00. Following the completion of the sale, the director directly owned 6,139,173 shares in the company, valued at approximately $272,763,456.39. This trade represents a 18.03% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,981,485 shares of company stock worth $82,447,777. 3.61% of the stock is currently owned by insiders.

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.