Principal Financial Group Inc. boosted its stake in shares of Unity Software Inc. (NYSE:U – Free Report) by 12.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 26,269 shares of the company’s stock after buying an additional 2,999 shares during the period. Principal Financial Group Inc.’s holdings in Unity Software were worth $701,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Research Global Investors boosted its stake in Unity Software by 510.2% during the fourth quarter. Capital Research Global Investors now owns 7,181,661 shares of the company’s stock worth $293,658,000 after buying an additional 6,004,655 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Unity Software by 26.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 35,336 shares of the company’s stock valued at $1,445,000 after purchasing an additional 7,484 shares during the last quarter. Seldon Capital LP acquired a new position in shares of Unity Software in the 4th quarter valued at $7,576,000. Natixis Advisors L.P. lifted its stake in shares of Unity Software by 3.2% in the 3rd quarter. Natixis Advisors L.P. now owns 13,226 shares of the company’s stock valued at $415,000 after purchasing an additional 407 shares during the last quarter. Finally, Seven Eight Capital LP lifted its stake in shares of Unity Software by 84.4% in the 4th quarter. Seven Eight Capital LP now owns 180,844 shares of the company’s stock valued at $7,395,000 after purchasing an additional 82,796 shares during the last quarter. Institutional investors and hedge funds own 73.46% of the company’s stock.
Unity Software Stock Down 0.2 %
Unity Software stock opened at $15.70 on Friday. Unity Software Inc. has a twelve month low of $15.23 and a twelve month high of $50.08. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.70. The stock has a 50 day moving average of $19.34 and a two-hundred day moving average of $26.95. The stock has a market capitalization of $6.14 billion, a price-to-earnings ratio of -7.01 and a beta of 2.25.
Unity Software (NYSE:U – Get Free Report) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.13. Unity Software had a negative return on equity of 7.73% and a negative net margin of 40.11%. The business had revenue of $460.38 million during the quarter, compared to analysts’ expectations of $422.53 million. As a group, research analysts expect that Unity Software Inc. will post -1.81 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on U. JMP Securities reaffirmed a “market perform” rating on shares of Unity Software in a research note on Friday, May 10th. Wedbush reaffirmed an “outperform” rating and issued a $33.50 price target on shares of Unity Software in a research note on Friday, May 10th. The Goldman Sachs Group decreased their target price on Unity Software from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Monday, May 13th. Macquarie decreased their target price on Unity Software from $20.00 to $14.00 and set an “underperform” rating on the stock in a research note on Thursday, June 27th. Finally, Needham & Company LLC reissued a “buy” rating and set a $31.00 target price on shares of Unity Software in a research note on Friday, May 10th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $33.47.
Read Our Latest Stock Analysis on Unity Software
Insider Transactions at Unity Software
In other news, insider Marc Whitten sold 86,768 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $20.60, for a total transaction of $1,787,420.80. Following the completion of the sale, the insider now owns 2,483 shares in the company, valued at $51,149.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Unity Software news, insider Marc Whitten sold 86,768 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $20.60, for a total value of $1,787,420.80. Following the completion of the transaction, the insider now owns 2,483 shares in the company, valued at $51,149.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Anirma Gupta sold 1,037 shares of the company’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $24.42, for a total value of $25,323.54. Following the completion of the sale, the senior vice president now directly owns 386,706 shares in the company, valued at approximately $9,443,360.52. The disclosure for this sale can be found here. Insiders sold 245,736 shares of company stock worth $4,832,120 over the last 90 days. 6.30% of the stock is currently owned by insiders.
About Unity Software
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.
Further Reading
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