Amalgamated Bank increased its holdings in Unity Software Inc. (NYSE:U – Get Rating) by 28.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,114 shares of the company's stock after purchasing an additional 3,792 shares during the quarter. Amalgamated Bank's holdings in Unity Software were worth $1,698,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. J.W. Cole Advisors Inc. raised its holdings in shares of Unity Software by 142.6% during the first quarter. J.W. Cole Advisors Inc. now owns 4,810 shares of the company's stock valued at $477,000 after acquiring an additional 2,827 shares during the period. American Trust acquired a new stake in shares of Unity Software during the first quarter valued at approximately $694,000. Bank of America Corp DE raised its holdings in shares of Unity Software by 33.4% during the first quarter. Bank of America Corp DE now owns 1,396,398 shares of the company's stock valued at $138,537,000 after acquiring an additional 350,006 shares during the period. Verition Fund Management LLC raised its holdings in shares of Unity Software by 888.2% during the first quarter. Verition Fund Management LLC now owns 18,785 shares of the company's stock valued at $1,864,000 after acquiring an additional 16,884 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Unity Software by 18.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 291,478 shares of the company's stock valued at $28,918,000 after acquiring an additional 45,865 shares during the period. 77.37% of the stock is currently owned by institutional investors.
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Unity Software Stock Performance
U stock opened at $32.61 on Tuesday. The company has a quick ratio of 3.44, a current ratio of 3.44 and a debt-to-equity ratio of 0.75. The firm has a 50 day moving average of $42.32 and a two-hundred day moving average of $54.07. The company has a market capitalization of $9.72 billion, a price-to-earnings ratio of -14.43 and a beta of 1.90. Unity Software Inc. has a 12 month low of $29.09 and a 12 month high of $210.00.
Unity Software (NYSE:U – Get Rating) last posted its quarterly earnings data on Tuesday, August 9th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.52) by ($0.02). The firm had revenue of $297.00 million for the quarter, compared to the consensus estimate of $299.05 million. Unity Software had a negative return on equity of 22.71% and a negative net
margin of 54.01%. Unity Software's quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.34) earnings per share. As a group, equities analysts anticipate that Unity Software Inc. will post -1.81 EPS for the current fiscal year.
Insider Buying and Selling
In related news, CFO Luis Felipe Visoso sold 9,894 shares of the company's stock in a transaction on Friday, August 26th. The shares were sold at an average price of $45.94, for a total transaction of $454,530.36. Following the completion of the sale, the chief financial officer now directly owns 314,251 shares of the company's stock, valued at approximately $14,436,690.94. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Unity Software news, CMO Carol W. Carpenter sold 797 shares of the stock in a transaction on Monday, August 15th. The shares were sold at an average price of $55.55, for a total value of $44,273.35. Following the completion of the sale, the chief marketing officer now directly owns 220,397 shares of the company's stock, valued at approximately $12,243,053.35. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Luis Felipe Visoso sold 9,894 shares of the stock in a transaction on Friday, August 26th. The shares were sold at an average price of $45.94, for a total transaction of $454,530.36. Following the completion of the sale, the chief financial officer now directly owns 314,251 shares of the company's stock, valued at $14,436,690.94. The disclosure for this sale can be found here. In the last three months, insiders sold 26,367 shares of company stock valued at $1,229,421. Company insiders own 6.90% of the company's stock.
Analyst Ratings Changes
A number of research firms have recently issued reports on U. Oppenheimer boosted their price target on shares of Unity Software from $54.00 to $60.00 and gave the company an "outperform" rating in a report on Wednesday, August 10th. Piper Sandler upped their price objective on shares of Unity Software from $34.00 to $42.00 and gave the company a "neutral" rating in a research note on Wednesday, August 10th. Robert W. Baird lowered shares of Unity Software from an "outperform" rating to a "neutral" rating in a research note on Wednesday, July 13th. Benchmark assumed coverage on shares of Unity Software in a research note on Wednesday, June 15th. They issued a "sell" rating and a $27.00 price objective on the stock. Finally, Wolfe Research assumed coverage on shares of Unity Software in a research note on Tuesday, August 16th. They issued an "outperform" rating and a $70.00 price objective on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $70.93.
About Unity Software
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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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