Unity Software Inc. (NYSE:U) Shares Purchased by US Bancorp DE

Key Points

• US Bancorp DE increased its stake in Unity Software by 110.1%, now holding 26,860 shares worth approximately $526,000.
• In the recent quarterly earnings results, Unity reported a loss of ($0.26) per share, missing expectations, but revenues of $440.94 million exceeded analyst forecasts.
• A number of analysts have upgraded their price targets for Unity Software, with Wedbush raising their target from $39.00 to $41.00 and Needham announcing a target increase to $40.00, reflecting a generally positive sentiment.

US Bancorp DE increased its stake in shares of Unity Software Inc. (NYSE:U - Free Report) by 110.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,860 shares of the company's stock after purchasing an additional 14,074 shares during the quarter. US Bancorp DE's holdings in Unity Software were worth $526,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of U. American Century Companies Inc. acquired a new position in Unity Software during the 4th quarter worth $318,000. Federated Hermes Inc. lifted its holdings in Unity Software by 557.8% during the 4th quarter. Federated Hermes Inc. now owns 10,617 shares of the company's stock worth $239,000 after buying an additional 9,003 shares during the last quarter. Advisory Services Network LLC purchased a new stake in Unity Software during the 4th quarter worth about $879,000. Raymond James Financial Inc. purchased a new stake in Unity Software during the 4th quarter worth about $1,151,000. Finally, Treasurer of the State of North Carolina lifted its holdings in Unity Software by 2.2% during the 4th quarter. Treasurer of the State of North Carolina now owns 132,828 shares of the company's stock worth $2,985,000 after buying an additional 2,870 shares during the last quarter. 73.46% of the stock is owned by institutional investors and hedge funds.

Unity Software Price Performance

U stock opened at $33.17 on Tuesday. Unity Software Inc. has a 1 year low of $14.89 and a 1 year high of $38.96. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.73 and a current ratio of 2.73. The stock's 50 day moving average price is $28.63 and its 200 day moving average price is $24.10. The firm has a market cap of $14.01 billion, a P/E ratio of -31.29 and a beta of 2.32.

Unity Software (NYSE:U - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.26) earnings per share for the quarter, missing analysts' consensus estimates 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 business had revenue of $440.94 million for 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 company's revenue for the quarter was down 1.9% compared to the same quarter last year. On average, sell-side analysts expect that Unity Software Inc. will post -1.25 earnings per share for the current fiscal year.

Insider Activity at Unity Software

In related news, CEO Matthew S. Bromberg sold 133,072 shares of the stock in a transaction 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 transaction, the chief executive officer directly owned 1,222,812 shares of the company's stock, valued at approximately $25,972,526.88. This trade represents a 9.81% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director David Helgason sold 261,473 shares of the 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 completion of the transaction, the director directly owned 7,489,173 shares in the company, valued at $192,471,746.10. This trade represents a 3.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,212,724 shares of company stock worth $31,284,962. Company insiders own 3.61% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Wedbush upped 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. Barclays lifted their price target on Unity Software from $25.00 to $30.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 7th. Needham & Company LLC boosted their price objective on Unity Software from $30.00 to $40.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Morgan Stanley lifted their target price on shares of Unity Software from $25.00 to $40.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Finally, Jefferies Financial Group lifted their target price on shares of Unity Software from $29.00 to $35.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $31.20.

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.

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