First Trust Advisors LP Reduces Position in Unity Software Inc. $U

First Trust Advisors LP decreased its stake in shares of Unity Software Inc. (NYSE:U - Free Report) by 20.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 588,523 shares of the company's stock after selling 148,383 shares during the quarter. First Trust Advisors LP owned about 0.13% of Unity Software worth $12,912,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Wellington Management Group LLP grew its holdings in shares of Unity Software by 58.7% during the third quarter. Wellington Management Group LLP now owns 18,213,875 shares of the company's stock valued at $729,284,000 after buying an additional 6,734,285 shares during the last quarter. Norges Bank purchased a new position in Unity Software in the 4th quarter worth $230,285,000. Duquesne Family Office LLC acquired a new stake in Unity Software during the 2nd quarter worth about $42,932,000. Dimensional Fund Advisors LP lifted its position in Unity Software by 52.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,245,014 shares of the company's stock worth $93,089,000 after acquiring an additional 1,465,962 shares during the period. Finally, T. Rowe Price Investment Management Inc. grew its stake in Unity Software by 41.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,622,445 shares of the company's stock valued at $204,174,000 after purchasing an additional 1,355,847 shares during the last quarter. Hedge funds and other institutional investors own 73.46% of the company's stock.

Unity Software Stock Performance

NYSE U opened at $33.34 on Friday. The stock has a 50-day simple moving average of $29.07 and a two-hundred day simple moving average of $26.87. The firm has a market capitalization of $14.55 billion, a P/E ratio of -21.23, a PEG ratio of 3.79 and a beta of 2.05. Unity Software Inc. has a fifty-two week low of $16.78 and a fifty-two week high of $52.15. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.95 and a current ratio of 1.95.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Raymond James Financial assumed coverage on Unity Software in a report on Monday, June 29th. They issued a "market perform" rating on the stock. BTIG Research upped their target price on Unity Software from $39.00 to $43.00 and gave the company a "buy" rating in a research report on Thursday, May 7th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Unity Software in a report on Friday, July 17th. Piper Sandler reiterated an "overweight" rating and issued a $45.00 price target (up from $40.00) on shares of Unity Software in a report on Thursday. Finally, Wells Fargo & Company raised their price target on shares of Unity Software from $35.00 to $36.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 7th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $38.27.

Key Headlines Impacting Unity Software

Here are the key news stories impacting Unity Software this week:

• Positive Sentiment: Piper Sandler raised its price target: The firm reaffirmed its “overweight” rating and increased its target from $40 to $45, implying approximately 35% upside from the recently cited trading level. The higher target reflects greater confidence in Unity’s outlook. Benzinga analyst rating update
• Positive Sentiment: Potential earnings beat: Zacks said Unity has two indicators associated with a likely earnings beat and expects earnings to grow in the upcoming report. Anticipation of stronger results may be supporting the stock ahead of Thursday’s earnings release. Unity Software earnings expected to grow
• Positive Sentiment: Constructive technical momentum: Unity recently moved above its 200-day moving average after reaching a support level. Zacks characterized the breakout above this long-term resistance as a potential sign of a bullish trend. Unity Software overtakes 200-day moving average
• Neutral Sentiment: Heightened investor attention: Unity has appeared on Zacks’ list of trending stocks and its Rank #1 “Strong Buy” growth-stocks list. These designations may increase visibility, although they are not guarantees of future performance. Zacks Strong Buy growth stocks

Insider Transactions at Unity Software

In related news, COO Alexander Blum sold 2,099 shares of the firm's stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $27.37, for a total transaction of $57,449.63. Following the sale, the chief operating officer directly owned 727,970 shares of the company's stock, valued at $19,924,538.90. This trade represents a 0.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Rebecca Berenice Boyden sold 952 shares of the firm's stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $27.20, for a total value of $25,894.40. Following the sale, the senior vice president directly owned 309,445 shares in the company, valued at approximately $8,416,904. This trade represents a 0.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 198,321 shares of company stock valued at $5,390,783. 0.77% of the stock is owned by insiders.

Unity Software Profile

Unity Software is a leading provider of a real-time 3D development platform that enables creators across industries to design, build and operate interactive, real-time experiences. Originally focused on the game development market, Unity's technology now extends into sectors such as film, automotive, architecture, engineering and construction, delivering immersive content for mobile, desktop, console, augmented reality and virtual reality devices. The company's core offering comprises a suite of authoring tools, runtime engines and cloud services that streamline the creation and deployment of interactive 3D applications.

The Unity Editor serves as the central hub where developers design scenes, script behavior and iterate on assets.

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