QRG Capital Management Inc. Purchases New Position in Unity Software Inc. $U

Key Points

• QRG Capital Management has acquired a new position in Unity Software Inc., purchasing 12,996 shares valued at approximately $315,000 in the 2nd quarter.
• Unity Software reported a loss of $0.26 EPS for the last quarter, slightly missing estimates, despite achieving revenue of $440.94 million, which exceeded analyst expectations.
• Hedge funds and other institutional investors currently own 73.46% of Unity Software's stock, indicating strong institutional interest in the company.

QRG Capital Management Inc. purchased a new stake in shares of Unity Software Inc. (NYSE:U - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 12,996 shares of the company's stock, valued at approximately $315,000.

Several other institutional investors also recently bought and sold shares of the stock. Cornerstone Planning Group LLC grew its holdings in Unity Software by 30,300.0% in the first quarter. Cornerstone Planning Group LLC now owns 1,216 shares of the company's stock valued at $25,000 after purchasing an additional 1,212 shares during the period. CX Institutional acquired a new stake in Unity Software in the second quarter valued at approximately $25,000. Banque Transatlantique SA acquired a new stake in Unity Software in the first quarter valued at approximately $28,000. GAMMA Investing LLC grew its holdings in Unity Software by 72.5% in the first quarter. GAMMA Investing LLC now owns 2,822 shares of the company's stock valued at $55,000 after purchasing an additional 1,186 shares during the period. Finally, Signaturefd LLC grew its holdings in Unity Software by 26.3% in the first quarter. Signaturefd LLC now owns 3,658 shares of the company's stock valued at $72,000 after purchasing an additional 762 shares during the period. 73.46% of the stock is currently owned by hedge funds and other institutional investors.

Unity Software Stock Performance

NYSE U opened at $36.15 on Friday. Unity Software Inc. has a fifty-two week low of $15.33 and a fifty-two week high of $46.94. The stock's fifty day moving average is $39.89 and its two-hundred day moving average is $29.62. The firm has a market capitalization of $15.27 billion, a P/E ratio of -34.10 and a beta of 2.32. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.73 and a current ratio of 2.73.

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

Wall Street Analyst Weigh In

Several brokerages have commented on U. Wells Fargo & Company raised their price objective on Unity Software from $29.00 to $37.00 and gave the company an "equal weight" rating in a report on Tuesday, October 7th. JMP Securities raised their price objective on Unity Software from $30.00 to $35.00 and gave the company a "market outperform" rating in a report on Thursday, August 7th. Needham & Company LLC lifted their price target on Unity Software from $30.00 to $40.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. UBS Group lifted their price target on Unity Software from $22.00 to $33.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Finally, Wall Street Zen raised Unity Software from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $32.65.

Insiders Place Their Bets

In related news, Director David Helgason sold 1,350,000 shares of the business's stock in a transaction on Monday, September 8th. The stock was sold at an average price of $44.43, for a total value of $59,980,500.00. Following the sale, the director owned 6,139,173 shares in the company, valued at approximately $272,763,456.39. The trade was a 18.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Alexander Blum sold 63,813 shares of the business's stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $39.41, for a total value of $2,514,870.33. Following the completion of the sale, the chief operating officer owned 603,811 shares in the company, valued at $23,796,191.51. This represents a 9.56% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,284,426 shares of company stock worth $96,630,284. Corporate insiders own 3.61% of the company's stock.

About Unity Software

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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