Algert Global LLC Raises 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 raised its stake in shares of Unity Software Inc. (NYSE:U - Free Report) by 35.8% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 157,736 shares of the company's stock after purchasing an additional 41,570 shares during the period. Algert Global LLC's holdings in Unity Software were worth $3,090,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Unity Software by 5.9% during the first quarter. Vanguard Group Inc. now owns 32,964,521 shares of the company's stock valued at $645,775,000 after purchasing an additional 1,841,486 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Unity Software by 43.2% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,773,157 shares of the company's stock valued at $54,326,000 after purchasing an additional 837,026 shares during the period. Dimensional Fund Advisors LP grew its holdings in Unity Software by 35.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,473,370 shares of the company's stock valued at $55,578,000 after purchasing an additional 642,627 shares during the period. Broad Peak Investment Advisers Pte Ltd purchased a new position in shares of Unity Software in the first quarter valued at about $47,648,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Unity Software by 10.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,166,916 shares of the company's stock worth $42,450,000 after acquiring an additional 208,516 shares during the period. Institutional investors own 73.46% of the company's stock.

Insider Buying and Selling

In other Unity Software news, CFO Jarrod Yahes sold 29,876 shares of the company's 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 sale, the chief financial officer directly owned 638,504 shares in the company, valued at $25,105,977.28. This 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 this link. Also, Director Tomer Bar-Zeev sold 50,000 shares of the company's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $33.18, for a total value of $1,659,000.00. Following the sale, the director owned 2,148,146 shares in the company, valued at approximately $71,275,484.28. This trade represents a 2.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 987,508 shares of company stock valued at $27,294,991 in the last ninety days. Company insiders own 3.61% of the company's stock.

Unity Software Price Performance

Shares of NYSE:U traded up $0.22 during mid-day trading on Tuesday, reaching $40.05. The stock had a trading volume of 12,797,342 shares, compared to its average volume of 14,610,714. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.70. The company has a market cap of $16.92 billion, a P/E ratio of -37.78 and a beta of 2.32. Unity Software Inc. has a 1 year low of $15.33 and a 1 year high of $40.88. The business's 50 day moving average price is $31.55 and its 200 day moving average price is $25.31.

Unity Software (NYSE:U - Get Free Report) last posted 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 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 quarterly revenue was down 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.32) earnings per share. Research analysts expect that Unity Software Inc. will post -1.25 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

U has been the subject of a number of recent analyst reports. Needham & Company LLC upped their price objective on Unity Software from $30.00 to $40.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Morgan Stanley upped their price objective on Unity Software from $25.00 to $40.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Zacks Research lowered Unity Software from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Citigroup upped their price objective on Unity Software from $29.00 to $44.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Finally, UBS Group upped their price objective on Unity Software from $22.00 to $33.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $31.20.

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.