AQR Capital Management LLC Acquires 1,130,221 Shares of Unity Software Inc. $U

Key Points

• AQR Capital Management significantly increased its stake in Unity Software Inc. by 5,215.4% during the first quarter, now owning approximately 1.15 million shares valued at $22.2 million.
• Insider trading activity included Director Tomer Bar-Zeev selling 150,000 shares and CEO Matthew S. Bromberg selling 120,000 shares, both resulting in notable declines in their ownership percentages.
• Unity Software's stock price reached $43.25 with a market cap of $18.27 billion, while the company reported a quarterly revenue of $440.94 million, slightly above expectations but showed a 1.9% decline year-over-year.

AQR Capital Management LLC raised its holdings in shares of Unity Software Inc. (NYSE:U - Free Report) by 5,215.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,151,892 shares of the company's stock after acquiring an additional 1,130,221 shares during the quarter. AQR Capital Management LLC owned approximately 0.28% of Unity Software worth $22,185,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. Amalgamated Bank boosted its stake in shares of Unity Software by 3.0% during the 1st 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. Bouvel Investment Partners LLC boosted its stake in shares of Unity Software by 1.7% during the 1st quarter. Bouvel Investment Partners LLC now owns 35,595 shares of the company's stock worth $697,000 after acquiring an additional 580 shares during the last quarter. Signaturefd LLC boosted its stake in shares of Unity Software by 26.3% during the 1st quarter. Signaturefd LLC now owns 3,658 shares of the company's stock worth $72,000 after acquiring an additional 762 shares during the last quarter. Jessup Wealth Management Inc boosted its stake in shares of Unity Software by 4.3% during the 1st quarter. Jessup Wealth Management Inc now owns 23,667 shares of the company's stock worth $464,000 after acquiring an additional 985 shares during the last quarter. Finally, California State Teachers Retirement System boosted its stake in shares of Unity Software by 0.4% during the 4th quarter. California State Teachers Retirement System now owns 261,740 shares of the company's stock worth $5,881,000 after acquiring an additional 1,031 shares during the last quarter. Hedge funds and other institutional investors own 73.46% of the company's stock.

Insider Buying and Selling

In other Unity Software news, CEO Matthew S. Bromberg sold 120,000 shares of Unity Software stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $40.03, for a total value of $4,803,600.00. Following the sale, the chief executive officer directly owned 1,222,812 shares in the company, valued at approximately $48,949,164.36. The trade was a 8.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Jarrod Yahes sold 29,876 shares of Unity Software stock in a transaction on Monday, August 25th. The shares were sold at an average price of $39.32, for a total transaction of $1,174,724.32. Following the completion of the sale, the chief financial officer owned 638,504 shares in the company, valued at approximately $25,105,977.28. This represents a 4.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,981,485 shares of company stock worth $82,447,777 in the last 90 days. 3.61% of the stock is owned by company insiders.

Unity Software Price Performance

NYSE U traded up $0.16 on Friday, reaching $43.56. The company had a trading volume of 9,118,851 shares, compared to its average volume of 10,961,926. 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 stock has a market capitalization of $18.40 billion, a PE ratio of -41.09 and a beta of 2.33. The firm's 50 day moving average price is $36.11 and its 200 day moving average price is $26.98. Unity Software Inc. has a 12 month low of $15.33 and a 12 month high of $46.00.

Unity Software (NYSE:U - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.26) earnings per share (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 net margin of 24.38% and a negative return on equity of 13.59%. The business's 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. As a group, equities analysts predict that Unity Software Inc. will post -1.25 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on U. Morgan Stanley lifted their target price on shares of Unity Software from $25.00 to $40.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Bank of America began coverage on shares of Unity Software in a research note on Thursday, June 26th. They set an "underperform" rating and a $15.00 target price on the stock. UBS Group lifted their target price on shares of Unity Software from $22.00 to $33.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Wells Fargo & Company lifted their target price on shares of Unity Software from $24.00 to $29.00 and gave the company an "equal weight" rating in a research note on Thursday, August 7th. Finally, Jefferies Financial Group lifted their target price on shares of Unity Software from $29.00 to $35.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. 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 data from MarketBeat, Unity Software has a consensus rating of "Moderate Buy" and a consensus price target of $31.20.

Unity Software 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.