Northern Trust Corp Grows Stake in Unity Software Inc. $U

Key Points

• Northern Trust Corp increased its stake in Unity Software Inc. by 0.7%, owning approximately 1.75 million shares valued at $34.2 million after acquiring an additional 11,419 shares.
• Several institutional investors also increased their holdings in Unity Software, with 73.46% of the stock now owned by institutional investors.
• Unity Software reported a revenue of $440.94 million for the last quarter, which was below analyst expectations, contributing to a negative net margin of 24.38%.

Northern Trust Corp boosted its holdings in Unity Software Inc. (NYSE:U - Free Report) by 0.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,745,956 shares of the company's stock after purchasing an additional 11,419 shares during the quarter. Northern Trust Corp owned about 0.42% of Unity Software worth $34,203,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Janney Montgomery Scott LLC raised its stake in shares of Unity Software by 116.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 29,085 shares of the company's stock worth $570,000 after purchasing an additional 15,633 shares during the period. Oppenheimer & Co. Inc. bought a new stake in Unity Software in the 1st quarter valued at about $433,000. GAMMA Investing LLC raised its stake in Unity Software by 72.5% in the 1st quarter. GAMMA Investing LLC now owns 2,822 shares of the company's stock valued at $55,000 after acquiring an additional 1,186 shares during the period. Wealth Enhancement Advisory Services LLC bought a new stake in Unity Software in the 1st quarter valued at about $2,215,000. Finally, Amalgamated Bank raised its stake in Unity Software by 3.0% in the 1st quarter. Amalgamated Bank now owns 18,132 shares of the company's stock valued at $355,000 after acquiring an additional 525 shares during the period. 73.46% of the stock is currently owned by institutional investors.

Unity Software Price Performance

Shares of NYSE U traded down $0.01 during midday trading on Tuesday, hitting $39.40. 11,106,195 shares of the company's stock were exchanged, compared to its average volume of 12,406,110. Unity Software Inc. has a 12-month low of $15.33 and a 12-month high of $41.41. 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 company has a market cap of $16.65 billion, a price-to-earnings ratio of -37.17 and a beta of 2.33. The business's fifty day moving average price is $32.86 and its two-hundred day moving average price is $25.89.

Unity Software (NYSE:U - Get Free Report) last issued 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 return on equity of 13.59% and a negative net margin of 24.38%.The firm had revenue of $440.94 million during the quarter, compared to analysts' expectations of $425.18 million. During the same period in the prior year, the company earned ($0.32) EPS. The firm's quarterly revenue was down 1.9% compared to the same quarter last year. As a group, research analysts forecast that Unity Software Inc. will post -1.25 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on U. BTIG Research cut Unity Software from a "neutral" rating to a "sell" rating and set a $25.00 price objective on the stock. in a research note on Wednesday, July 23rd. UBS Group lifted their target price on Unity Software from $22.00 to $33.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. JMP Securities increased their price target on shares of Unity Software from $30.00 to $35.00 and gave the stock a "market outperform" rating in a report on Thursday, August 7th. Citigroup raised their price objective on shares of Unity Software from $29.00 to $44.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Finally, Morgan Stanley raised their price objective on shares of Unity Software from $25.00 to $40.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $31.20.

Insider Transactions at Unity Software

In other Unity Software news, CEO Matthew S. Bromberg sold 120,000 shares of the business's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $40.03, for a total value of $4,803,600.00. Following the completion of the sale, the chief executive officer owned 1,222,812 shares in the company, valued at approximately $48,949,164.36. The trade was a 8.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Tomer Bar-Zeev sold 50,000 shares of the business's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $33.18, for a total value of $1,659,000.00. Following the completion of the sale, the director owned 2,148,146 shares of the company's stock, valued at $71,275,484.28. The trade was a 2.27% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 754,655 shares of company stock valued at $23,824,311. 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.