abrdn plc Boosts Stake in Unity Software Inc. (NYSE:U)

abrdn plc grew its holdings in shares of Unity Software Inc. (NYSE:U - Free Report) by 133.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 99,927 shares of the company's stock after buying an additional 57,117 shares during the period. abrdn plc's holdings in Unity Software were worth $4,086,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Unity Software by 8.3% in the third quarter. Vanguard Group Inc. now owns 25,819,797 shares of the company's stock worth $810,483,000 after acquiring an additional 1,972,435 shares in the last quarter. ARK Investment Management LLC increased its stake in Unity Software by 6.2% during the 4th quarter. ARK Investment Management LLC now owns 12,189,778 shares of the company's stock valued at $498,440,000 after purchasing an additional 712,579 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Unity Software by 14.7% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,131,625 shares of the company's stock worth $373,392,000 after buying an additional 1,170,058 shares during the last quarter. Eagle Asset Management Inc. bought a new position in shares of Unity Software in the third quarter worth approximately $82,988,000. Finally, Artisan Partners Limited Partnership grew its holdings in shares of Unity Software by 69.7% during the third quarter. Artisan Partners Limited Partnership now owns 2,431,829 shares of the company's stock valued at $76,335,000 after buying an additional 998,467 shares during the last quarter. 73.46% of the stock is owned by hedge funds and other institutional investors.

Unity Software Price Performance

Shares of U traded up $0.85 during trading hours on Monday, reaching $24.98. 6,243,828 shares of the stock traded hands, compared to its average volume of 9,789,006. Unity Software Inc. has a 52-week low of $22.20 and a 52-week high of $50.08. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 0.85. The company has a market cap of $9.76 billion, a P/E ratio of -11.56 and a beta of 2.42. The company's 50-day moving average price is $26.63 and its two-hundred day moving average price is $30.39.

Unity Software (NYSE:U - Get Free Report) last released its quarterly earnings data on Monday, February 26th. The company reported ($0.66) earnings per share for the quarter, missing analysts' consensus estimates of $0.23 by ($0.89). Unity Software had a negative return on equity of 10.14% and a negative net margin of 37.64%. The business had revenue of $609.27 million during the quarter, compared to the consensus estimate of $551.01 million. During the same period last year, the company earned ($0.50) EPS. The business's revenue was up 35.1% on a year-over-year basis. On average, analysts anticipate that Unity Software Inc. will post -0.63 earnings per share for the current year.

Insider Transactions at Unity Software

In other Unity Software news, CMO Carol W. Carpenter sold 6,417 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $32.57, for a total transaction of $209,001.69. Following the completion of the transaction, the chief marketing officer now owns 448,617 shares of the company's stock, valued at approximately $14,611,455.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CMO Carol W. Carpenter sold 6,417 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $32.57, for a total transaction of $209,001.69. Following the completion of the transaction, the chief marketing officer now directly owns 448,617 shares in the company, valued at approximately $14,611,455.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Luis Felipe Visoso sold 3,087 shares of the business's stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $32.51, for a total transaction of $100,358.37. Following the completion of the sale, the chief financial officer now owns 1,111,889 shares in the company, valued at approximately $36,147,511.39. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 340,967 shares of company stock valued at $9,552,515. 6.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on U shares. William Blair reaffirmed an "outperform" rating on shares of Unity Software in a research report on Tuesday, January 9th. Citigroup decreased their target price on Unity Software from $50.00 to $38.00 and set a "buy" rating for the company in a research report on Wednesday, February 28th. Barclays dropped their price target on shares of Unity Software from $30.00 to $28.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 27th. Needham & Company LLC decreased their price objective on shares of Unity Software from $40.00 to $31.00 and set a "buy" rating for the company in a report on Tuesday, February 27th. Finally, Stifel Nicolaus increased their price objective on shares of Unity Software from $32.00 to $35.00 and gave the company a "buy" rating in a research report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $37.03.

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.