Norden Group LLC Acquires Shares of 8,380 Unity Software Inc. $U

Key Points

• Norden Group LLC acquired 8,380 shares of Unity Software Inc. during the second quarter, with a total investment of approximately $203,000.
• Several brokerages have raised their target prices for Unity Software, with Needham & Company and Morgan Stanley setting new targets of $40.00 per share, highlighting a general bullish outlook on the stock.
• Insider transactions indicate significant sell-offs, with COO Alexander Blum and Director Tomer Bar-Zeev selling a combined 213,813 shares of Unity, raising concerns about insider confidence amidst fluctuations in stock value.

Norden Group LLC bought a new position in shares of Unity Software Inc. (NYSE:U - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 8,380 shares of the company's stock, valued at approximately $203,000.

A number of other large investors have also recently modified their holdings of U. Vanguard Group Inc. grew its stake in Unity Software by 5.9% in the first quarter. Vanguard Group Inc. now owns 32,964,521 shares of the company's stock worth $645,775,000 after purchasing an additional 1,841,486 shares in the last quarter. Atreides Management LP grew its position in shares of Unity Software by 146.7% during the 1st quarter. Atreides Management LP now owns 9,430,955 shares of the company's stock worth $184,752,000 after buying an additional 5,607,572 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of Unity Software by 89.7% during the first quarter. Ameriprise Financial Inc. now owns 3,357,530 shares of the company's stock valued at $65,778,000 after buying an additional 1,587,582 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Unity Software by 43.2% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,773,157 shares of the company's stock valued at $54,326,000 after buying an additional 837,026 shares during the period. Finally, Broad Peak Investment Advisers Pte Ltd bought a new stake in shares of Unity Software in the first quarter valued at about $47,648,000. Hedge funds and other institutional investors own 73.46% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on U. Needham & Company LLC increased their target price 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. Morgan Stanley increased their price objective on shares of Unity Software from $25.00 to $40.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. UBS Group upped their target price on Unity Software from $22.00 to $33.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Wedbush increased their target price on Unity Software from $39.00 to $41.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Finally, Wall Street Zen raised Unity Software from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $31.20.

Unity Software Stock Performance

Shares of U opened at $42.79 on Friday. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.70. The firm has a market cap of $18.08 billion, a PE ratio of -40.37 and a beta of 2.33. Unity Software Inc. has a 12 month low of $15.33 and a 12 month high of $46.94. The stock has a fifty day moving average price of $38.88 and a 200-day moving average price of $28.46.

Unity Software (NYSE:U - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported ($0.26) earnings per share (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 business had revenue of $440.94 million for the quarter, compared to analyst estimates of $425.18 million. During the same period in the prior year, the company earned ($0.32) earnings per share. The company's quarterly revenue was down 1.9% on a year-over-year basis. Equities research analysts predict that Unity Software Inc. will post -1.25 earnings per share for the current fiscal year.

Insider Transactions at Unity Software

In other Unity Software news, COO Alexander Blum sold 63,813 shares of the company's stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $39.41, for a total transaction of $2,514,870.33. Following the transaction, the chief operating officer owned 603,811 shares in the company, valued at approximately $23,796,191.51. This represents a 9.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Tomer Bar-Zeev sold 150,000 shares of the firm's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $37.75, for a total transaction of $5,662,500.00. Following the completion of the transaction, the director directly owned 1,948,146 shares of the company's stock, valued at approximately $73,542,511.50. This represents a 7.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,134,426 shares of company stock worth $89,426,284 over the last ninety days. 3.61% of the stock is currently owned by insiders.

Unity Software 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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