Merit Financial Group LLC Buys Shares of 11,504 Unity Software Inc. (NYSE:U)

Merit Financial Group LLC bought a new position in shares of Unity Software Inc. (NYSE:U - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 11,504 shares of the company's stock, valued at approximately $225,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Rhumbline Advisers grew its stake in shares of Unity Software by 0.7% during the first quarter. Rhumbline Advisers now owns 316,933 shares of the company's stock worth $6,209,000 after purchasing an additional 2,081 shares during the period. Parallel Advisors LLC grew its stake in shares of Unity Software by 2.6% during the first quarter. Parallel Advisors LLC now owns 50,470 shares of the company's stock worth $989,000 after purchasing an additional 1,288 shares during the period. GAMMA Investing LLC grew its stake in shares of Unity Software by 3,279.2% during the first quarter. GAMMA Investing LLC now owns 55,283 shares of the company's stock worth $1,083,000 after purchasing an additional 53,647 shares during the period. California State Teachers Retirement System grew its stake in shares of Unity Software by 0.4% during the fourth quarter. California State Teachers Retirement System now owns 261,740 shares of the company's stock worth $5,881,000 after purchasing an additional 1,031 shares during the period. Finally, Soviero Asset Management LP acquired a new stake in shares of Unity Software during the fourth quarter worth $2,247,000. Institutional investors own 73.46% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Citigroup raised Unity Software from a "neutral" rating to a "buy" rating and set a $30.00 target price for the company in a research note on Tuesday, March 11th. Jefferies Financial Group raised Unity Software from a "hold" rating to a "buy" rating and boosted their target price for the company from $22.00 to $29.00 in a research note on Friday, May 30th. UBS Group decreased their target price on Unity Software from $30.00 to $22.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Wells Fargo & Company decreased their target price on Unity Software from $22.00 to $19.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Finally, Wall Street Zen raised Unity Software from a "hold" rating to a "buy" rating in a research note on Monday, June 9th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $25.14.

Insider Transactions at Unity Software

In other Unity Software news, CAO Mark Barrysmith sold 1,595 shares of the firm's stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $18.43, for a total transaction of $29,395.85. Following the transaction, the chief accounting officer now owns 481,822 shares in the company, valued at $8,879,979.46. This trade represents a 0.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David Helgason sold 261,473 shares of the firm's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $25.70, for a total value of $6,719,856.10. Following the transaction, the director now owns 7,489,173 shares in the company, valued at approximately $192,471,746.10. This trade represents a 3.37% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,294,611 shares of company stock worth $30,506,382. Company insiders own 3.61% of the company's stock.

Unity Software Stock Performance

NYSE:U traded up $0.79 on Monday, hitting $24.45. The company's stock had a trading volume of 9,196,495 shares, compared to its average volume of 11,431,736. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.70. The stock has a fifty day moving average of $22.00 and a two-hundred day moving average of $22.44. The firm has a market capitalization of $10.16 billion, a P/E ratio of -14.55 and a beta of 2.34. Unity Software Inc. has a one year low of $13.90 and a one year high of $30.88.

Unity Software (NYSE:U - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($0.19) earnings per share for the quarter, topping analysts' consensus estimates of ($0.38) by $0.19. The company had revenue of $435.00 million for the quarter, compared to analyst estimates of $415.77 million. Unity Software had a negative return on equity of 13.40% and a negative net margin of 36.63%. The firm's quarterly revenue was down 5.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.28 earnings per share. Research analysts predict that Unity Software Inc. will post -1.25 earnings per share for the current year.

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.