Charles Schwab Investment Management Inc. Raises Stock Position in Unity Software Inc. $U

Charles Schwab Investment Management Inc. grew its stake in Unity Software Inc. (NYSE:U - Free Report) by 10.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,166,916 shares of the company's stock after acquiring an additional 208,516 shares during the period. Charles Schwab Investment Management Inc. owned 0.52% of Unity Software worth $42,450,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in U. Vanguard Group Inc. boosted its stake in shares of Unity Software by 5.9% during the first quarter. Vanguard Group Inc. now owns 32,964,521 shares of the company's stock valued at $645,775,000 after purchasing an additional 1,841,486 shares in the last quarter. Encompass More Asset Management boosted its stake in shares of Unity Software by 14.2% during the first quarter. Encompass More Asset Management now owns 76,242 shares of the company's stock valued at $1,494,000 after purchasing an additional 9,463 shares in the last quarter. Blair William & Co. IL boosted its stake in shares of Unity Software by 8.6% during the first quarter. Blair William & Co. IL now owns 154,958 shares of the company's stock valued at $3,036,000 after purchasing an additional 12,242 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Unity Software by 19.2% during the first quarter. PNC Financial Services Group Inc. now owns 8,936 shares of the company's stock valued at $175,000 after purchasing an additional 1,439 shares in the last quarter. Finally, Moors & Cabot Inc. bought a new position in shares of Unity Software during the first quarter valued at approximately $987,000. 73.46% of the stock is currently owned by institutional investors.

Unity Software Stock Performance

Shares of Unity Software stock traded down $1.3210 during trading on Wednesday, hitting $35.9090. 10,755,807 shares of the company's stock were exchanged, compared to its average volume of 12,449,930. The stock has a market capitalization of $15.17 billion, a price-to-earnings ratio of -33.88 and a beta of 2.32. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.73 and a current ratio of 2.73. The business has a 50-day simple moving average of $30.15 and a 200-day simple moving average of $24.72. Unity Software Inc. has a 52-week low of $15.33 and a 52-week high of $39.72.

Unity Software (NYSE:U - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.01). Unity Software had a negative net margin of 24.38% and a negative return on equity of 13.59%. 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 prior year, the business posted ($0.32) EPS. The firm's quarterly revenue was down 1.9% compared to the same quarter last year. On average, research analysts forecast that Unity Software Inc. will post -1.25 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on U shares. Wall Street Zen upgraded shares of Unity Software from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Jefferies Financial Group increased their price objective on shares of Unity Software from $29.00 to $35.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Morgan Stanley increased their target price on shares of Unity Software from $25.00 to $40.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. JMP Securities increased their target price on shares of Unity Software from $30.00 to $35.00 and gave the company a "market outperform" rating in a research report on Thursday, August 7th. Finally, Citigroup increased their target price on shares of Unity Software from $29.00 to $44.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $31.20.

Insiders Place Their Bets

In other news, Director Tomer Bar-Zeev sold 50,000 shares of the firm's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $33.18, for a total value of $1,659,000.00. Following the transaction, the director directly owned 2,148,146 shares of the company's stock, valued at approximately $71,275,484.28. This trade represents a 2.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Mark Barrysmith sold 1,011 shares of the firm's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $32.30, for a total transaction of $32,655.30. Following the completion of the transaction, the chief accounting officer directly owned 464,372 shares in the company, valued at approximately $14,999,215.60. This represents a 0.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,214,694 shares of company stock valued at $31,384,519. 3.61% of the stock is owned by company insiders.

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.