Cerity Partners LLC Acquires 67,357 Shares of Unity Software Inc. (NYSE:U)

Cerity Partners LLC boosted its holdings in shares of Unity Software Inc. (NYSE:U - Free Report) by 111.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 127,711 shares of the company's stock after buying an additional 67,357 shares during the period. Cerity Partners LLC's holdings in Unity Software were worth $2,502,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Cornerstone Planning Group LLC lifted its holdings in shares of Unity Software by 30,300.0% during the first quarter. Cornerstone Planning Group LLC now owns 1,216 shares of the company's stock valued at $25,000 after acquiring an additional 1,212 shares during the period. Anderson Financial Strategies LLC bought a new position in shares of Unity Software during the fourth quarter valued at $28,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Unity Software during the fourth quarter valued at $36,000. Itau Unibanco Holding S.A. lifted its holdings in shares of Unity Software by 150.4% during the fourth quarter. Itau Unibanco Holding S.A. now owns 1,778 shares of the company's stock valued at $40,000 after acquiring an additional 1,068 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of Unity Software by 72.5% during the first quarter. GAMMA Investing LLC now owns 2,822 shares of the company's stock valued at $55,000 after acquiring an additional 1,186 shares during the period. Institutional investors and hedge funds own 73.46% of the company's stock.

Insider Activity

In other news, Director Tomer Bar-Zeev sold 250,000 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $26.39, for a total value of $6,597,500.00. Following the completion of the transaction, the director owned 2,398,146 shares of the company's stock, valued at $63,287,072.94. This represents a 9.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Shlomo Dovrat sold 50,000 shares of the company's stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $30.01, for a total value of $1,500,500.00. Following the completion of the transaction, the director directly owned 189,089 shares of the company's stock, valued at $5,674,560.89. This represents a 20.91% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,276,809 shares of company stock valued at $31,561,623. Corporate insiders own 3.61% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on U. UBS Group raised their price objective on shares of Unity Software from $22.00 to $33.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Jefferies Financial Group raised their price objective on shares of Unity Software from $29.00 to $35.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Needham & Company LLC lowered their price objective on shares of Unity Software from $33.00 to $30.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Citigroup raised their price objective on shares of Unity Software from $29.00 to $44.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, Wells Fargo & Company boosted their price objective on Unity Software from $19.00 to $24.00 and gave the stock an "equal weight" rating in a report on Monday, July 7th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $27.22.

Unity Software Price Performance

U traded down $0.85 on Wednesday, hitting $33.38. 14,136,557 shares of the stock were exchanged, compared to its average volume of 12,039,848. Unity Software Inc. has a 12 month low of $13.90 and a 12 month high of $38.96. The business has a 50-day moving average of $25.94 and a two-hundred day moving average of $23.12. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.74 and a quick ratio of 2.74. The firm has a market capitalization of $13.87 billion, a price-to-earnings ratio of -29.80 and a beta of 2.29.

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