Ameriprise Financial Inc. Increases Stake in Unity Software Inc. $U

Key Points

• Ameriprise Financial Inc. increased its holdings in Unity Software by 89.7%, owning 3.36 million shares valued at approximately $65.78 million.
• Insider trading activity at Unity Software included a sale of 50,000 shares by Director Shlomo Dovrat, representing a 20.91% decrease in his position.
• The stock has shown volatility, with a 1-year high of $40.88 and a low of $15.33, currently trading around $40.05 with a market cap of $16.92 billion.

Ameriprise Financial Inc. grew its position in shares of Unity Software Inc. (NYSE:U - Free Report) by 89.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,357,530 shares of the company's stock after buying an additional 1,587,582 shares during the quarter. Ameriprise Financial Inc. owned 0.81% of Unity Software worth $65,778,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Janney Montgomery Scott LLC boosted its holdings in Unity Software by 116.2% in the first quarter. Janney Montgomery Scott LLC now owns 29,085 shares of the company's stock worth $570,000 after purchasing an additional 15,633 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new stake in Unity Software in the first quarter worth approximately $433,000. GAMMA Investing LLC boosted its holdings in Unity Software by 72.5% in the first quarter. GAMMA Investing LLC now owns 2,822 shares of the company's stock worth $55,000 after purchasing an additional 1,186 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in Unity Software in the first quarter worth approximately $2,215,000. Finally, Amalgamated Bank boosted its holdings in Unity Software by 3.0% in the first quarter. Amalgamated Bank now owns 18,132 shares of the company's stock worth $355,000 after purchasing an additional 525 shares during the last quarter. Hedge funds and other institutional investors own 73.46% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Wedbush increased their price target on shares of Unity Software from $39.00 to $41.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Bank of America assumed coverage on shares of Unity Software in a research report on Thursday, June 26th. They issued an "underperform" rating and a $15.00 price target on the stock. Jefferies Financial Group increased their price target on shares of Unity Software from $29.00 to $35.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Stifel Nicolaus decreased their price target on shares of Unity Software from $35.00 to $28.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Finally, Zacks Research downgraded shares of Unity Software from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $31.20.

Insider Transactions at Unity Software

In other Unity Software news, COO Alexander Blum sold 63,813 shares of the company's stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $39.41, for a total transaction of $2,514,870.33. Following the completion of the transaction, the chief operating officer directly owned 603,811 shares in the company, valued at approximately $23,796,191.51. This represents a 9.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Tomer Bar-Zeev sold 250,000 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $26.39, for a total transaction of $6,597,500.00. Following the completion of the sale, the director owned 2,398,146 shares of the company's stock, valued at $63,287,072.94. This trade represents a 9.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,004,655 shares of company stock worth $30,421,811. Insiders own 3.61% of the company's stock.

Unity Software Stock Performance

Shares of U traded down $0.78 during trading hours on Friday, hitting $39.39. The stock had a trading volume of 10,191,594 shares, compared to its average volume of 14,598,579. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.73 and a current ratio of 2.73. The firm has a 50-day moving average price of $32.53 and a 200 day moving average price of $25.69. Unity Software Inc. has a fifty-two week low of $15.33 and a fifty-two week high of $41.41. The firm has a market capitalization of $16.64 billion, a price-to-earnings ratio of -37.16 and a beta of 2.32.

Unity Software (NYSE:U - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.01). Unity Software had a negative net margin of 24.38% and a negative return on equity of 13.59%. The firm had revenue of $440.94 million during the quarter, compared to analyst estimates of $425.18 million. During the same quarter in the prior year, the firm earned ($0.32) earnings per share. The business's revenue for the quarter was down 1.9% on a year-over-year basis. As a group, research analysts anticipate that Unity Software Inc. will post -1.25 EPS for the current 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.