Oppenheimer & Co. Inc. acquired a new position in shares of Unity Software Inc. (NYSE:U - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 22,098 shares of the company's stock, valued at approximately $433,000.
A number of other hedge funds have also added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. boosted its position in Unity Software by 3.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,958,400 shares of the company's stock worth $44,005,000 after purchasing an additional 72,384 shares during the last quarter. Vanguard Group Inc. increased its holdings in Unity Software by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 31,123,035 shares of the company's stock worth $699,335,000 after buying an additional 625,872 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Unity Software in the fourth quarter worth about $1,151,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Unity Software during the 1st quarter worth approximately $2,215,000. Finally, GAMMA Investing LLC grew its holdings in Unity Software by 3,279.2% during the first quarter. GAMMA Investing LLC now owns 55,283 shares of the company's stock valued at $1,083,000 after purchasing an additional 53,647 shares during the period. Institutional investors and hedge funds own 73.46% of the company's stock.
Insider Buying and Selling at Unity Software
In other Unity Software news, CEO Matthew S. Bromberg sold 133,072 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $21.24, for a total value of $2,826,449.28. Following the completion of the transaction, the chief executive officer directly owned 1,222,812 shares in the company, valued at $25,972,526.88. This represents a 9.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David Helgason sold 261,473 shares of the firm's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $25.70, for a total transaction of $6,719,856.10. Following the transaction, the director directly owned 7,489,173 shares of the company's stock, valued at $192,471,746.10. The trade was a 3.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,127,944 shares of company stock valued at $27,166,375. 3.61% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
U has been the topic of several recent research reports. Morgan Stanley dropped their target price on Unity Software from $32.00 to $25.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Citigroup upgraded 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. Stifel Nicolaus decreased their price target on Unity Software from $35.00 to $28.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Wall Street Zen downgraded shares of Unity Software from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Finally, Wells Fargo & Company reduced their price objective on shares of 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. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $24.47.
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Unity Software Trading Up 1.1%
U traded up $0.27 during midday trading on Wednesday, reaching $24.28. 7,383,646 shares of the company's stock traded hands, compared to its average volume of 11,497,691. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.74 and a quick ratio of 2.74. The stock has a market capitalization of $10.09 billion, a price-to-earnings ratio of -21.68 and a beta of 2.30. The firm has a fifty day moving average of $23.00 and a two-hundred day moving average of $22.29. Unity Software Inc. has a 52 week low of $13.90 and a 52 week high of $30.88.
Unity Software (NYSE:U - Get Free Report) last posted 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 firm had revenue of $435.00 million for the quarter, compared to the consensus estimate of $415.77 million. Unity Software had a negative return on equity of 14.12% and a negative net margin of 25.21%. The business's revenue for the quarter was down 5.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.28 EPS. On average, equities analysts anticipate that Unity Software Inc. will post -1.25 earnings per share for the current fiscal year.
Unity Software Profile
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Free Report)
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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