First Trust Advisors LP Invests $10.26 Million in Unity Software Inc. (NYSE:U)

First Trust Advisors LP purchased a new position in shares of Unity Software Inc. (NYSE:U - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 456,785 shares of the company's stock, valued at approximately $10,264,000. First Trust Advisors LP owned about 0.11% of Unity Software at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in U. Tidal Investments LLC raised its holdings in Unity Software by 4.9% during the 3rd quarter. Tidal Investments LLC now owns 15,410 shares of the company's stock worth $349,000 after purchasing an additional 723 shares during the last quarter. Oddo BHF Asset Management Sas acquired a new stake in shares of Unity Software during the third quarter worth $728,000. Versant Capital Management Inc increased its position in shares of Unity Software by 186.9% during the fourth quarter. Versant Capital Management Inc now owns 2,812 shares of the company's stock worth $63,000 after buying an additional 1,832 shares during the period. GAMMA Investing LLC increased its position in shares of Unity Software by 33.6% during the fourth quarter. GAMMA Investing LLC now owns 1,636 shares of the company's stock worth $37,000 after buying an additional 411 shares during the period. Finally, Everence Capital Management Inc. acquired a new stake in shares of Unity Software during the fourth quarter worth $265,000. 73.46% of the stock is currently owned by institutional investors.

Unity Software Stock Down 1.4 %

U opened at $22.13 on Tuesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.41 and a quick ratio of 2.41. The company's 50-day moving average is $21.55 and its 200 day moving average is $22.02. Unity Software Inc. has a fifty-two week low of $13.90 and a fifty-two week high of $30.88. The firm has a market capitalization of $9.20 billion, a P/E ratio of -13.17 and a beta of 2.31.

Unity Software (NYSE:U - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.05. The business had revenue of $457.10 million for the quarter, compared to analyst estimates of $433.47 million. Unity Software had a negative net margin of 36.63% and a negative return on equity of 13.40%. Research analysts expect that Unity Software Inc. will post -1.25 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Alexander Blum sold 1,479 shares of the business's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $25.26, for a total transaction of $37,359.54. Following the completion of the transaction, the chief operating officer now directly owns 495,648 shares in the company, valued at $12,520,068.48. The trade was a 0.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Tomer Bar-Zeev sold 166,667 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $20.99, for a total value of $3,498,340.33. Following the completion of the sale, the director now owns 3,481,479 shares in the company, valued at $73,076,244.21. This trade represents a 4.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 782,231 shares of company stock valued at $17,933,528 over the last quarter. Company insiders own 6.30% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on U. Wedbush reiterated an "outperform" rating and set a $27.00 price objective on shares of Unity Software in a research report on Thursday, February 13th. Citigroup upgraded shares of Unity Software from a "neutral" rating to a "buy" rating and set a $30.00 price objective for the company in a research report on Tuesday, March 11th. Benchmark upgraded shares of Unity Software from a "sell" rating to a "hold" rating in a report on Thursday, February 20th. Macquarie initiated coverage on shares of Unity Software in a report on Monday, March 10th. They issued a "neutral" rating and a $24.00 price target for the company. Finally, JMP Securities restated a "market perform" rating on shares of Unity Software in a report on Monday, February 3rd. Ten equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Unity Software has an average rating of "Moderate Buy" and an average price target of $23.96.

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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