Unity Software Inc. (NYSE:U) Shares Bought by Northern Trust Corp

Northern Trust Corp boosted its stake in Unity Software Inc. (NYSE:U - Free Report) by 31.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,734,537 shares of the company's stock after purchasing an additional 416,214 shares during the quarter. Northern Trust Corp owned about 0.43% of Unity Software worth $38,975,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norges Bank purchased a new position in Unity Software in the fourth quarter valued at approximately $269,320,000. Slate Path Capital LP purchased a new position in shares of Unity Software in the 4th quarter valued at $62,387,000. Capital International Investors lifted its holdings in shares of Unity Software by 10.4% during the 4th quarter. Capital International Investors now owns 18,886,853 shares of the company's stock valued at $424,388,000 after acquiring an additional 1,786,032 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Unity Software by 366.6% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,936,131 shares of the company's stock worth $43,505,000 after purchasing an additional 1,521,165 shares during the period. Finally, Alliancebernstein L.P. increased its holdings in Unity Software by 541.3% in the 4th quarter. Alliancebernstein L.P. now owns 799,817 shares of the company's stock valued at $17,972,000 after purchasing an additional 675,099 shares in the last quarter. Institutional investors and hedge funds own 73.46% of the company's stock.

Insider Transactions at Unity Software

In other Unity Software news, COO Alexander Blum sold 1,479 shares of the company's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $25.26, for a total value of $37,359.54. Following the completion of the transaction, the chief operating officer now owns 495,648 shares in the company, valued at approximately $12,520,068.48. This represents 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 236,337 shares of Unity Software stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $23.92, for a total value of $5,653,181.04. Following the sale, the director now directly owns 3,161,809 shares in the company, valued at approximately $75,630,471.28. This trade represents a 6.95 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 782,231 shares of company stock worth $18,033,528. 6.30% of the stock is currently owned by company insiders.

Unity Software Stock Performance

Shares of U opened at $20.57 on Friday. The stock has a market capitalization of $8.55 billion, a PE ratio of -12.24 and a beta of 2.29. The business's fifty day moving average price is $20.64 and its 200 day moving average price is $21.98. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.41 and a quick ratio of 2.41. 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 posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.38) by $0.19. Unity Software had a negative net margin of 36.63% and a negative return on equity of 13.40%. The company had revenue of $435.00 million for the quarter, compared to the consensus estimate of $415.77 million. During the same period last year, the firm posted $0.28 EPS. The company's revenue for the quarter was down 5.5% on a year-over-year basis. Equities research analysts forecast that Unity Software Inc. will post -1.25 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on U shares. 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 report on Thursday. Hsbc Global Res raised shares of Unity Software to a "strong-buy" rating in a research report on Friday, February 21st. Wells Fargo & Company reduced their target price on shares of Unity Software from $22.00 to $19.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. UBS Group lowered their price target on shares of Unity Software from $30.00 to $22.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Finally, Macquarie started coverage on shares of Unity Software in a report on Monday, March 10th. They issued a "neutral" rating and a $24.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $24.21.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.