Wedmont Private Capital Invests $229,000 in Unity Software Inc. $U

Key Points

• Wedmont Private Capital has invested approximately $229,000 in Unity Software Inc., acquiring 9,459 shares in the company's stock.
• Insider sales of Unity shares included a significant transaction by Director David Helgason, who sold 1.35 million shares for approximately $60 million, reducing his stake by 18.03%.
• Unity Software has received mixed ratings from analysts, with a consensus target price of $31.20, indicating potential growth despite some analysts issuing "underperform" ratings.

Wedmont Private Capital bought a new position in shares of Unity Software Inc. (NYSE:U - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 9,459 shares of the company's stock, valued at approximately $229,000.

Several other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Unity Software by 5.9% in the 1st quarter. Vanguard Group Inc. now owns 32,964,521 shares of the company's stock worth $645,775,000 after purchasing an additional 1,841,486 shares during the period. Atreides Management LP grew its stake in Unity Software by 146.7% during the first quarter. Atreides Management LP now owns 9,430,955 shares of the company's stock valued at $184,752,000 after acquiring an additional 5,607,572 shares in the last quarter. Ameriprise Financial Inc. grew its stake in Unity Software by 89.7% during the first quarter. Ameriprise Financial Inc. now owns 3,357,530 shares of the company's stock valued at $65,778,000 after acquiring an additional 1,587,582 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in Unity Software by 43.2% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,773,157 shares of the company's stock valued at $54,326,000 after acquiring an additional 837,026 shares in the last quarter. Finally, Broad Peak Investment Advisers Pte Ltd bought a new position in shares of Unity Software in the first quarter worth $47,648,000. Institutional investors own 73.46% of the company's stock.

Unity Software Stock Performance

Shares of U stock traded down $0.07 during trading hours on Monday, hitting $45.98. 6,623,905 shares of the company's stock were exchanged, compared to its average volume of 10,561,149. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.70. The business's 50 day simple moving average is $37.81 and its 200-day simple moving average is $27.74. Unity Software Inc. has a 12-month low of $15.33 and a 12-month high of $46.94.

Unity Software (NYSE:U - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $425.18 million. During the same period in the prior year, the firm earned ($0.32) earnings per share. The business's revenue for the quarter was down 1.9% on a year-over-year basis. As a group, sell-side analysts expect that Unity Software Inc. will post -1.25 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on U shares. Wells Fargo & Company upped their price target on shares of Unity Software from $24.00 to $29.00 and gave the stock an "equal weight" rating in a report on Thursday, August 7th. 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 report on Wednesday, July 23rd. Jefferies Financial Group raised their price target on Unity Software from $29.00 to $35.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Barclays raised their price target on Unity Software from $25.00 to $30.00 and gave the company an "equal weight" rating in a report on Thursday, August 7th. Finally, Citigroup lifted their target price on shares of Unity Software from $29.00 to $44.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $31.20.

Insider Transactions at Unity Software

In other Unity Software news, Director Shlomo Dovrat sold 50,000 shares of the company's stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $30.01, for a total transaction of $1,500,500.00. Following the completion of the transaction, the director owned 189,089 shares of the company's stock, valued at $5,674,560.89. This represents a 20.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Matthew S. Bromberg sold 120,000 shares of the company's stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $40.03, for a total value of $4,803,600.00. Following the transaction, the chief executive officer directly owned 1,222,812 shares of the company's stock, valued at $48,949,164.36. The trade was a 8.94% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,134,426 shares of company stock valued at $89,426,284. Company insiders own 3.61% of the company's stock.

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.