Empirical Financial Services LLC d.b.a. Empirical Wealth Management Buys New Shares in Unity Software Inc. $U

Key Points

• Empirical Financial Services LLC acquired 9,590 shares of Unity Software Inc. valued at approximately $232,000 during the second quarter.
• Insider transactions showed significant sales, with Director David Helgason selling 1,350,000 shares, reducing his ownership by 18.03%.
• Unity Software's stock has a market capitalization of $15.85 billion and reported a quarterly loss of ($0.26) EPS, missing analysts' expectations.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in Unity Software Inc. (NYSE:U - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 9,590 shares of the company's stock, valued at approximately $232,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its position in shares of Unity Software by 4.4% in the second quarter. Farther Finance Advisors LLC now owns 10,766 shares of the company's stock worth $261,000 after acquiring an additional 454 shares during the last quarter. Amalgamated Bank raised its stake in Unity Software by 3.0% during the first quarter. Amalgamated Bank now owns 18,132 shares of the company's stock worth $355,000 after purchasing an additional 525 shares during the period. Bouvel Investment Partners LLC boosted its holdings in shares of Unity Software by 1.7% in the 1st quarter. Bouvel Investment Partners LLC now owns 35,595 shares of the company's stock valued at $697,000 after purchasing an additional 580 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of Unity Software by 26.3% in the 1st quarter. Signaturefd LLC now owns 3,658 shares of the company's stock valued at $72,000 after purchasing an additional 762 shares during the last quarter. Finally, Jessup Wealth Management Inc grew its stake in shares of Unity Software by 4.3% during the 1st quarter. Jessup Wealth Management Inc now owns 23,667 shares of the company's stock valued at $464,000 after buying an additional 985 shares during the period. Hedge funds and other institutional investors own 73.46% of the company's stock.

Insider Transactions at Unity Software

In related news, Director David Helgason sold 1,350,000 shares of the stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $44.43, for a total value of $59,980,500.00. Following the completion of the transaction, the director owned 6,139,173 shares of the company's stock, valued at approximately $272,763,456.39. This represents a 18.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Shlomo Dovrat sold 50,000 shares of the firm'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 sale, the director owned 189,089 shares of the company's stock, 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 a total of 2,334,426 shares of company stock worth $98,130,784 over the last three months. Insiders own 3.61% of the company's stock.

Unity Software Stock Performance

Unity Software stock opened at $37.52 on Tuesday. The firm has a market capitalization of $15.85 billion, a PE ratio of -35.40 and a beta of 2.32. Unity Software Inc. has a one year low of $15.33 and a one year high of $46.94. The stock's 50 day moving average price is $39.54 and its 200 day moving average price is $29.27. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.73 and a current ratio of 2.73.

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

Analyst Upgrades and Downgrades

U has been the topic of a number of research analyst reports. Wall Street Zen upgraded Unity Software from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Wedbush lifted their price objective on Unity Software from $41.00 to $42.00 and gave the company an "outperform" rating in a research note on Monday. Citigroup boosted their target price on Unity Software from $44.00 to $50.00 and gave the stock a "buy" rating in a report on Wednesday, October 1st. Wells Fargo & Company raised their price target on shares of Unity Software from $24.00 to $29.00 and gave the company an "equal weight" rating in a report on Thursday, August 7th. Finally, HSBC cut shares of Unity Software from a "buy" rating to a "hold" rating and lifted their price target for the company from $37.50 to $40.80 in a research report on Tuesday, September 30th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $32.12.

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.

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