Unity Software Inc. $U Stake Lifted by AQR Capital Management LLC

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 position in Unity Software Inc. (NYSE:U - Free Report) by 5,215.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,151,892 shares of the company's stock after purchasing an additional 1,130,221 shares during the quarter. AQR Capital Management LLC owned 0.28% of Unity Software worth $22,185,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of U. Cornerstone Planning Group LLC raised its holdings in shares of Unity Software by 30,300.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 1,216 shares of the company's stock valued at $25,000 after buying an additional 1,212 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Unity Software during the 4th quarter valued at about $36,000. GAMMA Investing LLC raised its holdings in shares of Unity Software by 72.5% during the 1st quarter. GAMMA Investing LLC now owns 2,822 shares of the company's stock valued at $55,000 after buying an additional 1,186 shares during the period. Signaturefd LLC raised its holdings in shares of Unity Software by 26.3% during the 1st quarter. Signaturefd LLC now owns 3,658 shares of the company's stock valued at $72,000 after buying an additional 762 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of Unity Software by 171.2% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 4,301 shares of the company's stock valued at $84,000 after buying an additional 2,715 shares during the period. 73.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

U has been the topic of several analyst reports. Morgan Stanley raised their target price on Unity Software from $25.00 to $40.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. JMP Securities lifted their price objective on Unity Software from $30.00 to $35.00 and gave the stock a "market outperform" rating in a report on Thursday, August 7th. Barclays lifted their price objective on Unity Software from $25.00 to $30.00 and gave the stock an "equal weight" rating in a report on Thursday, August 7th. Wells Fargo & Company lifted their price objective on Unity Software from $24.00 to $29.00 and gave the stock an "equal weight" rating in a report on Thursday, August 7th. Finally, BTIG Research downgraded Unity Software from a "neutral" rating to a "sell" rating and set a $25.00 price objective on the stock. in a report on Wednesday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Unity Software currently has an average rating of "Moderate Buy" and an average price target of $31.20.

Unity Software Stock Performance

Shares of NYSE U traded down $0.14 during trading on Friday, reaching $43.26. The stock had a trading volume of 5,650,057 shares, compared to its average volume of 12,342,479. Unity Software Inc. has a one year low of $15.33 and a one year high of $46.00. 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 stock has a market cap of $18.28 billion, a PE ratio of -40.84 and a beta of 2.33. The firm's 50 day moving average price is $35.76 and its two-hundred day moving average price is $26.86.

Unity Software (NYSE:U - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.26) earnings per share for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $425.18 million. During the same quarter last year, the firm posted ($0.32) earnings per share. Unity Software's revenue was down 1.9% compared to the same quarter last year. On average, research analysts forecast that Unity Software Inc. will post -1.25 earnings per share for the current fiscal year.

Insider Activity at Unity Software

In other news, COO Alexander Blum sold 63,813 shares of the company's stock in a transaction that occurred on Wednesday, August 27th. The stock was 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 of the company's stock, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew S. Bromberg sold 120,000 shares of the company's stock in a transaction 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 transaction, the chief executive officer owned 1,222,812 shares of the company's stock, valued at approximately $48,949,164.36. The trade was a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,981,485 shares of company stock valued at $82,447,777. 3.61% of the stock is 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.