Cetera Investment Advisers Grows Position in Unity Software Inc. (NYSE:U)

Key Points

• Cetera Investment Advisers increased its stake in Unity Software by 52.9%, owning a total of 88,810 shares valued at approximately $1.74 million after purchasing an additional 30,726 shares.
• Unity Software has seen significant interest from institutional investors, with 73.46% of its stock owned by them, including firms like Ameriprise Financial, which grew its stake by 3,843.9%.
• Analysts have mixed projections for Unity Software, with ratings ranging from sell to strong buy, and a current consensus price target around $29.85.

Cetera Investment Advisers raised its position in shares of Unity Software Inc. (NYSE:U - Free Report) by 52.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,810 shares of the company's stock after buying an additional 30,726 shares during the quarter. Cetera Investment Advisers' holdings in Unity Software were worth $1,740,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in U. Capital International Investors boosted its holdings in Unity Software by 10.4% during the 4th quarter. Capital International Investors now owns 18,886,853 shares of the company's stock valued at $424,388,000 after acquiring an additional 1,786,032 shares during the period. Slate Path Capital LP purchased a new position in Unity Software during the 4th quarter valued at $62,387,000. Dimensional Fund Advisors LP boosted its holdings in Unity Software by 35.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,473,370 shares of the company's stock valued at $55,578,000 after acquiring an additional 642,627 shares during the period. Broad Peak Investment Advisers Pte Ltd purchased a new position in Unity Software during the 1st quarter valued at $47,648,000. Finally, Ameriprise Financial Inc. boosted its holdings in Unity Software by 3,843.9% during the 4th 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 period. Hedge funds and other institutional investors own 73.46% of the company's stock.

Insider Activity at Unity Software

In other news, Director Tomer Bar-Zeev sold 50,000 shares of Unity Software stock in a transaction on Monday, August 4th. The stock was sold at an average price of $33.18, for a total value of $1,659,000.00. Following the completion of the sale, the director directly owned 2,148,146 shares of the company's stock, valued at approximately $71,275,484.28. The trade was a 2.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Mark Barrysmith sold 1,011 shares of Unity Software stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $32.30, for a total value of $32,655.30. Following the completion of the sale, the chief accounting officer directly owned 464,372 shares of the company's stock, valued at $14,999,215.60. The trade was a 0.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,212,724 shares of company stock valued at $31,284,962 over the last 90 days. Corporate insiders own 3.61% of the company's stock.

Unity Software Price Performance

Shares of NYSE U traded up $4.18 during midday trading on Tuesday, hitting $37.37. The stock had a trading volume of 17,369,312 shares, compared to its average volume of 12,426,314. The company has a market capitalization of $15.79 billion, a PE ratio of -35.25 and a beta of 2.32. The stock has a 50 day simple moving average of $28.63 and a 200-day simple moving average of $24.10. Unity Software Inc. has a 1 year low of $15.21 and a 1 year high of $38.96. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.70.

Unity Software (NYSE:U - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.26) EPS 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 company had revenue of $440.94 million for the quarter, compared to analysts' expectations of $425.18 million. During the same quarter in the previous year, the business posted ($0.32) EPS. The business's quarterly revenue was down 1.9% compared to the same quarter last year. On average, sell-side analysts expect that Unity Software Inc. will post -1.25 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on U shares. BTIG Research lowered Unity Software from a "neutral" rating to a "sell" rating and set a $25.00 target price on the stock. in a research report on Wednesday, July 23rd. Morgan Stanley upped their target price on Unity Software from $25.00 to $40.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Needham & Company LLC upped their target price on Unity Software from $30.00 to $40.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Wells Fargo & Company upped their target price on Unity Software from $24.00 to $29.00 and gave the company an "equal weight" rating in a research report on Thursday, August 7th. Finally, Wall Street Zen upgraded Unity Software from a "hold" rating to a "buy" rating in a research note on Saturday. Two research analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $31.20.

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.