Canada Pension Plan Investment Board Buys 91,200 Shares of Unity Software Inc. $U

Key Points

• The Canada Pension Plan Investment Board significantly increased its stake in Unity Software Inc., acquiring an additional 91,200 shares, raising its total holdings to 91,400 shares valued at approximately $1.79 million.
• Unity Software reported a quarterly revenue of $440.94 million, slightly exceeding analyst expectations, although it posted a loss of ($0.26) EPS, missing the consensus estimate.
• Institutional investors hold a significant portion of Unity Software, owning 73.46% of the company's stock, with various firms increasing their positions in the first quarter.

Canada Pension Plan Investment Board boosted its stake in Unity Software Inc. (NYSE:U - Free Report) by 45,600.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 91,400 shares of the company's stock after buying an additional 91,200 shares during the quarter. Canada Pension Plan Investment Board's holdings in Unity Software were worth $1,791,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Northern Trust Corp increased its holdings in Unity Software by 31.6% in the 4th quarter. Northern Trust Corp now owns 1,734,537 shares of the company's stock valued at $38,975,000 after purchasing an additional 416,214 shares during the last quarter. Algert Global LLC lifted its position in shares of Unity Software by 51.6% during the 4th quarter. Algert Global LLC now owns 116,166 shares of the company's stock worth $2,610,000 after purchasing an additional 39,546 shares during the last quarter. Ameriprise Financial Inc. lifted its position in Unity Software by 3,843.9% in the fourth quarter. Ameriprise Financial Inc. now owns 1,769,948 shares of the company's stock valued at $39,771,000 after acquiring an additional 1,725,070 shares during the last quarter. Bridgefront Capital LLC purchased a new stake in Unity Software in the fourth quarter valued at $211,000. Finally, Brevan Howard Capital Management LP acquired a new position in Unity Software in the fourth quarter valued at $1,095,000. 73.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

U has been the topic of several recent analyst reports. Bank of America initiated coverage on shares of Unity Software in a research report on Thursday, June 26th. They set an "underperform" rating and a $15.00 target price on the stock. Wedbush raised their target price on shares of Unity Software from $39.00 to $41.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. BTIG Research lowered shares of Unity Software from a "neutral" rating to a "sell" rating and set a $25.00 price target for the company. in a report on Wednesday, July 23rd. JMP Securities raised their price objective on shares of Unity Software from $30.00 to $35.00 and gave the stock a "market outperform" rating in a report on Thursday, August 7th. Finally, Jefferies Financial Group raised 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. Two investment 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's stock. According to data from MarketBeat, Unity Software currently has a consensus rating of "Moderate Buy" and an average target price of $31.20.

Insider Buying and Selling

In related news, CEO Matthew S. Bromberg sold 120,000 shares of the 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 completion of the sale, the chief executive officer directly owned 1,222,812 shares of the company's stock, valued at approximately $48,949,164.36. This represents a 8.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Shlomo Dovrat sold 50,000 shares of Unity Software stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $30.01, for a total value of $1,500,500.00. Following the completion of the sale, the director directly owned 189,089 shares of the company's stock, valued at approximately $5,674,560.89. This trade represents a 20.91% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,981,485 shares of company stock valued at $82,447,777 over the last three months. Insiders own 3.61% of the company's stock.

Unity Software Trading Down 5.3%

Shares of NYSE:U traded down $2.42 during mid-day trading on Wednesday, reaching $43.08. The stock had a trading volume of 10,561,776 shares, compared to its average volume of 11,307,816. The firm has a market cap of $18.20 billion, a PE ratio of -40.65 and a beta of 2.33. Unity Software Inc. has a twelve month low of $15.33 and a twelve month high of $46.00. The firm has a 50 day simple moving average of $35.42 and a two-hundred day simple moving average of $26.75. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.70.

Unity Software (NYSE:U - Get Free Report) last issued its 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 return on equity of 13.59% and a negative net margin of 24.38%.The firm had revenue of $440.94 million for the quarter, compared to analyst estimates of $425.18 million. During the same quarter in the previous year, the firm posted ($0.32) earnings per share. Unity Software's quarterly revenue was down 1.9% on a year-over-year basis. On average, research analysts predict that Unity Software Inc. will post -1.25 EPS for the current fiscal year.

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.