197,113 Shares in Unity Software Inc. (NYSE:U) Bought by CenterBook Partners LP

CenterBook Partners LP purchased a new position in shares of Unity Software Inc. (NYSE:U - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 197,113 shares of the company's stock, valued at approximately $3,861,000.

Several other institutional investors have also modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its position in shares of Unity Software by 10.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,166,916 shares of the company's stock worth $42,450,000 after purchasing an additional 208,516 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Unity Software by 5.9% during the 1st quarter. Vanguard Group Inc. now owns 32,964,521 shares of the company's stock worth $645,775,000 after purchasing an additional 1,841,486 shares during the last quarter. Encompass More Asset Management increased its position in shares of Unity Software by 14.2% during the 1st quarter. Encompass More Asset Management now owns 76,242 shares of the company's stock worth $1,494,000 after purchasing an additional 9,463 shares during the last quarter. Blair William & Co. IL increased its position in shares of Unity Software by 8.6% during the 1st quarter. Blair William & Co. IL now owns 154,958 shares of the company's stock worth $3,036,000 after purchasing an additional 12,242 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in Unity Software by 19.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 8,936 shares of the company's stock valued at $175,000 after acquiring an additional 1,439 shares in the last quarter. Hedge funds and other institutional investors own 73.46% of the company's stock.

Insider Activity

In related news, CEO Matthew S. Bromberg sold 133,072 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $21.24, for a total value of $2,826,449.28. Following the sale, the chief executive officer owned 1,222,812 shares of the company's stock, valued at approximately $25,972,526.88. This trade represents a 9.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Shlomo Dovrat sold 50,000 shares of the firm's stock in a transaction that occurred on 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 in the company, 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 1,227,393 shares of company stock worth $29,909,863 over the last quarter. Corporate insiders own 3.61% of the company's stock.

Analysts Set New Price Targets

U has been the subject of several recent research reports. Wedbush upgraded Unity Software to a "strong-buy" rating in a research note on Tuesday, July 1st. Bank of America initiated coverage on Unity Software in a research note on Thursday, June 26th. They issued an "underperform" rating and a $15.00 price objective for the company. Morgan Stanley decreased their price objective on Unity Software from $32.00 to $25.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Wall Street Zen cut Unity Software from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Finally, Stifel Nicolaus decreased their target price on Unity Software from $35.00 to $28.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, six have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $24.80.

Unity Software Stock Up 1.8%

NYSE:U traded up $0.52 on Tuesday, hitting $29.74. 10,087,487 shares of the stock were exchanged, compared to its average volume of 11,741,270. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.74 and a current ratio of 2.74. The stock has a fifty day moving average of $24.10 and a 200-day moving average of $22.58. Unity Software Inc. has a fifty-two week low of $13.90 and a fifty-two week high of $30.88.

Unity Software (NYSE:U - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.19. Unity Software had a negative return on equity of 14.12% and a negative net margin of 25.21%. The company had revenue of $435.00 million during the quarter, compared to analyst estimates of $415.77 million. During the same period in the prior year, the firm posted $0.28 earnings per share. The firm's revenue was down 5.5% on a year-over-year basis. As a group, equities analysts expect that Unity Software Inc. will post -1.25 earnings per share for the current year.

About Unity Software

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.