Algert Global LLC Increases Stock Position in Unity Software Inc. $U

Key Points

• Algert Global LLC increased its stock position in Unity Software Inc. by 35.8%, bringing its total holdings to 157,736 shares valued at approximately $3.09 million as of the end of the first quarter.
• Several other institutional investors also adjusted their stakes in Unity Software, with notable increases including a new purchase by Broad Peak Investment Advisers valued at around $47.65 million.
• Analyst ratings for Unity Software show a mix of upgrades and downgrades, with two analysts giving a Strong Buy rating and an average target price of $31.20 for the stock.

Algert Global LLC lifted its holdings in shares of Unity Software Inc. (NYSE:U - Free Report) by 35.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 157,736 shares of the company's stock after buying an additional 41,570 shares during the quarter. Algert Global LLC's holdings in Unity Software were worth $3,090,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of U. Broad Peak Investment Advisers Pte Ltd purchased a new stake in shares of Unity Software during the 1st quarter valued at approximately $47,648,000. Vanguard Group Inc. lifted its stake in shares of Unity Software by 5.9% during the 1st quarter. Vanguard Group Inc. now owns 32,964,521 shares of the company's stock valued at $645,775,000 after buying an additional 1,841,486 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in Unity Software by 3,843.9% during the 4th quarter. Ameriprise Financial Inc. now owns 1,769,948 shares of the company's stock worth $39,771,000 after acquiring an additional 1,725,070 shares during the period. Teacher Retirement System of Texas purchased a new stake in Unity Software in the 1st quarter worth approximately $27,902,000. Finally, Nuveen LLC purchased a new stake in Unity Software in the 1st quarter worth approximately $25,520,000. 73.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

U has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of Unity Software from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. JMP Securities increased their target price on shares of Unity Software from $30.00 to $35.00 and gave the stock a "market outperform" rating in a research note on Thursday, August 7th. BTIG Research cut shares of Unity Software from a "neutral" rating to a "sell" rating and set a $25.00 target price on the stock. in a research note on Wednesday, July 23rd. UBS Group increased their target price on shares of Unity Software from $22.00 to $33.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Finally, Morgan Stanley increased their target price on shares of Unity Software from $25.00 to $40.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Unity Software has an average rating of "Moderate Buy" and an average target price of $31.20.

Insider Activity at Unity Software

In related news, Director Tomer Bar-Zeev sold 250,000 shares of Unity Software stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $26.39, for a total value of $6,597,500.00. Following the transaction, the director owned 2,398,146 shares in the company, valued at $63,287,072.94. This trade represents a 9.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James M. Whitehurst sold 72,955 shares of Unity Software stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $21.24, for a total transaction of $1,549,564.20. Following the completion of the transaction, the director owned 240,311 shares in the company, valued at approximately $5,104,205.64. The trade was a 23.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,214,694 shares of company stock worth $31,384,519 in the last 90 days. Corporate insiders own 3.61% of the company's stock.

Unity Software Price Performance

Shares of NYSE:U opened at $35.9090 on Thursday. The company's fifty day moving average price is $30.38 and its 200-day moving average price is $24.80. The firm has a market capitalization of $15.17 billion, a price-to-earnings ratio of -33.88 and a beta of 2.32. Unity Software Inc. has a one year low of $15.33 and a one year high of $39.72. 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 (NYSE:U - Get Free Report) last issued its quarterly 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 company had revenue of $440.94 million during 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%.Unity Software's quarterly revenue was down 1.9% on a year-over-year basis. During the same period in the previous year, the company earned ($0.32) EPS. On average, equities research analysts anticipate that Unity Software Inc. will post -1.25 earnings per share for the current fiscal year.

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.

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