Bleakley Financial Group LLC Acquires Shares of 39,680 Unity Software Inc. $U

Key Points

• Bleakley Financial Group opened a new position in Unity Software during the first quarter, buying 39,680 shares valued at about $871,000.
• Unity Software continues to attract broad institutional interest, with 73.46% of the stock owned by hedge funds and other institutional investors.
• Analyst sentiment is mixed but constructive: the stock carries a “Moderate Buy” consensus rating and a consensus price target of $37.77, while several firms recently raised or adjusted their targets.

Bleakley Financial Group LLC bought a new stake in Unity Software Inc. (NYSE:U - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 39,680 shares of the company's stock, valued at approximately $871,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. REAP Financial Group LLC acquired a new stake in shares of Unity Software in the 4th quarter valued at about $28,000. V Square Quantitative Management LLC acquired a new position in shares of Unity Software during the fourth quarter valued at $30,000. Larson Financial Group LLC boosted its holdings in shares of Unity Software by 88.1% during the third quarter. Larson Financial Group LLC now owns 728 shares of the company's stock valued at $29,000 after acquiring an additional 341 shares during the period. International Assets Investment Management LLC bought a new position in shares of Unity Software during the fourth quarter worth about $36,000. Finally, IFP Advisors Inc acquired a new stake in shares of Unity Software in the 3rd quarter worth about $33,000. 73.46% of the stock is owned by institutional investors and hedge funds.

Unity Software Stock Performance

Shares of U opened at $29.02 on Friday. The firm has a 50-day moving average price of $28.38 and a 200 day moving average price of $27.91. The firm has a market capitalization of $12.67 billion, a PE ratio of -18.49, a P/E/G ratio of 3.66 and a beta of 2.05. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.56. Unity Software Inc. has a 52-week low of $16.78 and a 52-week high of $52.15.

Analyst Ratings Changes

U has been the topic of several recent research reports. Piper Sandler started coverage on shares of Unity Software in a research report on Tuesday, June 2nd. They issued an "overweight" rating and a $40.00 price objective on the stock. Wall Street Zen lowered shares of Unity Software from a "buy" rating to a "hold" rating in a research note on Saturday, March 28th. Morgan Stanley lifted their price target on Unity Software from $30.00 to $32.00 and gave the company an "overweight" rating in a report on Friday, March 27th. Bank of America lifted their price target on Unity Software from $19.00 to $21.00 and gave the company a "neutral" rating in a report on Friday, March 27th. Finally, UBS Group boosted their price objective on Unity Software from $26.00 to $28.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 5th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eight have given a Hold rating and one has given 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 $37.77.

Insiders Place Their Bets

In other news, COO Alexander Blum sold 19,009 shares of the business's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $27.18, for a total value of $516,664.62. Following the sale, the chief operating officer owned 730,069 shares of the company's stock, valued at approximately $19,843,275.42. The trade was a 2.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Rebecca Berenice Boyden sold 952 shares of the company's stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $27.20, for a total value of $25,894.40. Following the completion of the transaction, the senior vice president directly owned 309,445 shares in the company, valued at $8,416,904. This represents a 0.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 198,321 shares of company stock valued at $5,390,783. 0.77% of the stock is currently owned by insiders.

Unity Software Company Profile

Unity Software is a leading provider of a real-time 3D development platform that enables creators across industries to design, build and operate interactive, real-time experiences. Originally focused on the game development market, Unity's technology now extends into sectors such as film, automotive, architecture, engineering and construction, delivering immersive content for mobile, desktop, console, augmented reality and virtual reality devices. The company's core offering comprises a suite of authoring tools, runtime engines and cloud services that streamline the creation and deployment of interactive 3D applications.

The Unity Editor serves as the central hub where developers design scenes, script behavior and iterate on assets.

Want to see what other hedge funds are holding U? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Unity Software Inc. (NYSE:U - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.