Vanguard Group Inc. Acquires 1,841,486 Shares of Unity Software Inc. (NYSE:U)

Vanguard Group Inc. raised its holdings in Unity Software Inc. (NYSE:U - Free Report) by 5.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,964,521 shares of the company's stock after acquiring an additional 1,841,486 shares during the period. Vanguard Group Inc. owned about 7.93% of Unity Software worth $645,775,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Encompass More Asset Management lifted its stake in shares of Unity Software by 14.2% in the first quarter. Encompass More Asset Management now owns 76,242 shares of the company's stock worth $1,494,000 after acquiring an additional 9,463 shares during the period. Blair William & Co. IL lifted its stake in Unity Software by 8.6% in the first quarter. Blair William & Co. IL now owns 154,958 shares of the company's stock valued at $3,036,000 after buying an additional 12,242 shares during the period. PNC Financial Services Group Inc. lifted its stake in Unity Software by 19.2% in the first quarter. PNC Financial Services Group Inc. now owns 8,936 shares of the company's stock valued at $175,000 after buying an additional 1,439 shares during the period. Moors & Cabot Inc. acquired a new position in Unity Software in the first quarter valued at approximately $987,000. Finally, US Bancorp DE lifted its stake in Unity Software by 110.1% in the first quarter. US Bancorp DE now owns 26,860 shares of the company's stock valued at $526,000 after buying an additional 14,074 shares during the period. Institutional investors own 73.46% of the company's stock.

Analyst Ratings Changes

U has been the subject of a number of recent analyst reports. Morgan Stanley upped their price objective on Unity Software from $25.00 to $40.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Citigroup upped their price objective on Unity Software from $29.00 to $44.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Bank of America assumed coverage on Unity Software in a research report on Thursday, June 26th. They set an "underperform" rating and a $15.00 price target on the stock. BTIG Research cut Unity Software from a "neutral" rating to a "sell" rating and set a $25.00 price target on the stock. in a research report on Wednesday, July 23rd. Finally, Barclays upped their price target on Unity Software from $25.00 to $30.00 and gave the company an "equal weight" rating in a research report on Thursday, August 7th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $31.20.

Insider Buying and Selling

In other Unity Software news, Director Shlomo Dovrat sold 50,000 shares of the firm's stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $30.01, for a total value of $1,500,500.00. Following the sale, the director directly owned 189,089 shares in the company, valued at $5,674,560.89. This trade represents a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Alexander Blum sold 2,582 shares of the firm's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $32.99, for a total value of $85,180.18. Following the completion of the sale, the chief operating officer owned 716,926 shares in the company, valued at approximately $23,651,388.74. This represents a 0.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,212,724 shares of company stock valued at $31,284,962 over the last 90 days. 3.61% of the stock is currently owned by corporate insiders.

Unity Software Stock Up 1.7%

NYSE:U opened at $37.93 on Thursday. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.70. The stock's fifty day moving average is $29.09 and its two-hundred day moving average is $24.28. Unity Software Inc. has a 52 week low of $15.33 and a 52 week high of $38.96. The stock has a market capitalization of $16.03 billion, a price-to-earnings ratio of -35.78 and a beta of 2.32.

Unity Software (NYSE:U - Get Free Report) last announced its quarterly earnings data 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). The company had revenue of $440.94 million during the quarter, compared to analyst estimates of $425.18 million. Unity Software had a negative net margin of 24.38% and a negative return on equity of 13.59%. The firm's revenue was down 1.9% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.32) earnings per share. Research analysts anticipate that Unity Software Inc. will post -1.25 EPS for the current year.

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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