abrdn plc acquired a new position in Unity Software Inc. (NYSE:U) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 10,669 shares of the company’s stock, valued at approximately $1,172,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Stifel Financial Corp increased its holdings in shares of Unity Software by 627.5% in the first quarter. Stifel Financial Corp now owns 152,346 shares of the company’s stock worth $15,282,000 after buying an additional 131,405 shares during the period. D.A. Davidson & CO. increased its holdings in shares of Unity Software by 449.8% in the first quarter. D.A. Davidson & CO. now owns 11,694 shares of the company’s stock worth $1,173,000 after buying an additional 9,567 shares during the period. Park Avenue Securities LLC increased its holdings in shares of Unity Software by 19.6% in the second quarter. Park Avenue Securities LLC now owns 9,605 shares of the company’s stock worth $1,055,000 after buying an additional 1,577 shares during the period. Envestnet Asset Management Inc. increased its holdings in shares of Unity Software by 2.5% in the second quarter. Envestnet Asset Management Inc. now owns 238,247 shares of the company’s stock worth $26,167,000 after buying an additional 5,764 shares during the period. Finally, HarbourVest Partners LLC purchased a new position in shares of Unity Software in the first quarter worth about $2,197,000. Hedge funds and other institutional investors own 74.66% of the company’s stock.
A number of brokerages recently issued reports on U. Morgan Stanley began coverage on Unity Software in a report on Wednesday, June 30th. They set an “equal weight” rating and a $115.00 price target on the stock. The Goldman Sachs Group began coverage on Unity Software in a report on Wednesday, August 11th. They set a “buy” rating and a $135.00 price target on the stock. Macquarie began coverage on Unity Software in a report on Tuesday, August 31st. They set an “outperform” rating and a $152.00 price target on the stock. Piper Sandler boosted their price target on Unity Software from $150.00 to $152.00 and gave the company an “overweight” rating in a report on Wednesday, August 11th. Finally, Stifel Nicolaus boosted their price target on Unity Software from $125.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, August 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Unity Software has a consensus rating of “Buy” and a consensus target price of $129.92.
Unity Software (NYSE:U) last issued its quarterly earnings results on Tuesday, August 10th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.29. Unity Software had a negative return on equity of 17.16% and a negative net margin of 52.08%. The firm had revenue of $273.56 million for the quarter, compared to analysts’ expectations of $242.75 million. During the same period in the previous year, the firm posted ($0.09) EPS. The business’s revenue for the quarter was up 48.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Unity Software Inc. will post -1.22 EPS for the current fiscal year.
In related news, SVP Ingrid Lestiyo sold 28,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 15th. The stock was sold at an average price of $131.23, for a total value of $3,674,440.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director 2020 Aps Otee sold 120,000 shares of the business’s stock in a transaction on Friday, August 27th. The shares were sold at an average price of $123.50, for a total transaction of $14,820,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,224,982 shares of company stock worth $146,128,922. Insiders own 19.00% of the company’s stock.
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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