Unity Software Inc. (NYSE:U) Shares Purchased by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in Unity Software by 43.2% during the first quarter, now owning 2,773,157 shares valued at approximately $54.33 million.
• Analysts have mixed views on Unity Software, with Wedbush raising its price target from $39.00 to $41.00 while BTIG cut its rating from "neutral" to "sell" with a target of $25.00.
• In its latest earnings report, Unity Software reported a loss of ($0.26) per share, surpassing revenue expectations of $440.94 million but marking a 1.9% decline year-over-year.

Connor Clark & Lunn Investment Management Ltd. raised its position in Unity Software Inc. (NYSE:U - Free Report) by 43.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,773,157 shares of the company's stock after buying an additional 837,026 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.67% of Unity Software worth $54,326,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. American Century Companies Inc. bought a new position in Unity Software during the fourth quarter valued at $318,000. Sei Investments Co. grew its holdings in Unity Software by 44.1% during the fourth quarter. Sei Investments Co. now owns 17,922 shares of the company's stock valued at $403,000 after purchasing an additional 5,486 shares during the period. Resona Asset Management Co. Ltd. purchased a new position in Unity Software in the 4th quarter valued at approximately $122,000. Federated Hermes Inc. grew its stake in Unity Software by 557.8% in the 4th quarter. Federated Hermes Inc. now owns 10,617 shares of the company's stock valued at $239,000 after buying an additional 9,003 shares in the last quarter. Finally, Advisory Services Network LLC purchased a new position in Unity Software in the 4th quarter valued at approximately $879,000. Hedge funds and other institutional investors own 73.46% of the company's stock.

Analysts Set New Price Targets

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

Unity Software Stock Up 12.6%

Shares of NYSE:U traded up $4.18 during trading hours on Tuesday, hitting $37.37. The company's stock had a trading volume of 19,853,613 shares, compared to its average volume of 12,464,030. The firm's fifty day moving average price is $28.63 and its 200 day moving average price is $24.10. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.73 and a quick ratio of 2.73. Unity Software Inc. has a 52 week low of $15.21 and a 52 week high of $38.96. The company has a market capitalization of $15.79 billion, a price-to-earnings ratio of -35.25 and a beta of 2.32.

Unity Software (NYSE:U - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.01). The company had revenue of $440.94 million for the quarter, compared to analysts' expectations of $425.18 million. Unity Software had a negative return on equity of 13.59% and a negative net margin of 24.38%. The firm's revenue for the quarter was down 1.9% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.32) EPS. As a group, research analysts expect that Unity Software Inc. will post -1.25 EPS for the current year.

Insider Activity

In other Unity Software news, Director Shlomo Dovrat sold 50,000 shares of the stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $30.01, for a total transaction of $1,500,500.00. Following the transaction, the director directly owned 189,089 shares of the company's stock, valued at $5,674,560.89. This trade represents a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Mark Barrysmith sold 1,011 shares of the stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $32.30, for a total transaction of $32,655.30. Following the transaction, the chief accounting officer directly owned 464,372 shares in the company, valued at approximately $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 sold a total of 1,212,724 shares of company stock valued at $31,284,962 in the last three months. Corporate insiders own 3.61% of the company's stock.

Unity Software Company 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.