Wealth Enhancement Advisory Services LLC Buys Shares of 113,068 Unity Software Inc. (NYSE:U)

Wealth Enhancement Advisory Services LLC acquired a new stake in Unity Software Inc. (NYSE:U - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 113,068 shares of the company's stock, valued at approximately $2,215,000.

Several other hedge funds and other institutional investors have also made changes to their positions in U. Anderson Financial Strategies LLC purchased a new position in shares of Unity Software in the 4th quarter valued at about $28,000. Principal Securities Inc. boosted its stake in shares of Unity Software by 50.5% in the 4th quarter. Principal Securities Inc. now owns 1,422 shares of the company's stock valued at $32,000 after buying an additional 477 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Unity Software in the 4th quarter valued at about $36,000. Whipplewood Advisors LLC purchased a new position in shares of Unity Software in the 4th quarter valued at about $40,000. Finally, Itau Unibanco Holding S.A. boosted its stake in shares of Unity Software by 150.4% in the 4th quarter. Itau Unibanco Holding S.A. now owns 1,778 shares of the company's stock valued at $40,000 after buying an additional 1,068 shares during the period. Hedge funds and other institutional investors own 73.46% of the company's stock.

Insider Buying and Selling

In related news, CAO Mark Barrysmith sold 1,595 shares of the company's stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $18.43, for a total transaction of $29,395.85. Following the transaction, the chief accounting officer now owns 481,822 shares of the company's stock, valued at $8,879,979.46. This represents a 0.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Anirma Gupta sold 46,957 shares of the company's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $21.24, for a total value of $997,366.68. Following the transaction, the senior vice president now directly owns 644,952 shares in the company, valued at $13,698,780.48. This represents a 6.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,294,611 shares of company stock valued at $30,506,382 over the last quarter. Company insiders own 3.61% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on U shares. UBS Group decreased their target price on Unity Software from $30.00 to $22.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Jefferies Financial Group upgraded Unity Software from a "hold" rating to a "buy" rating and boosted their target price for the stock from $22.00 to $29.00 in a research note on Friday, May 30th. Stifel Nicolaus decreased their target price on Unity Software from $35.00 to $28.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Bank of America started coverage on Unity Software in a research note on Thursday. They set an "underperform" rating and a $15.00 target price for the company. Finally, Wedbush cut Unity Software from a "strong-buy" rating to a "strong sell" rating in a research note on Wednesday, May 7th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Unity Software presently has a consensus rating of "Hold" and an average price target of $24.47.

Unity Software Trading Up 4.0%

NYSE:U opened at $24.33 on Friday. The firm has a market cap of $10.11 billion, a P/E ratio of -21.72 and a beta of 2.34. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 0.70. The stock's 50 day simple moving average is $22.82 and its 200-day simple moving average is $22.31. Unity Software Inc. has a 12-month low of $13.90 and a 12-month high of $30.88.

Unity Software (NYSE:U - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.38) by $0.19. The business had revenue of $435.00 million for the quarter, compared to analyst estimates of $415.77 million. Unity Software had a negative return on equity of 14.12% and a negative net margin of 25.21%. The company's revenue for the quarter was down 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.28 earnings per share. Equities analysts anticipate that Unity Software Inc. will post -1.25 EPS for the current year.

Unity Software 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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