Federated Hermes Inc. Acquires New Position in Unity Software Inc. (NYSE:U)

Federated Hermes Inc. acquired a new stake in shares of Unity Software Inc. (NYSE:U) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 19,663 shares of the company’s stock, valued at approximately $804,000.

Several other large investors also recently bought and sold shares of the business. BluePath Capital Management LLC grew its stake in Unity Software by 6.7% during the 4th quarter. BluePath Capital Management LLC now owns 5,453 shares of the company’s stock valued at $223,000 after acquiring an additional 342 shares in the last quarter. Natixis Advisors L.P. boosted its holdings in 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. Teacher Retirement System of Texas boosted its holdings in Unity Software by 2.5% in the 3rd quarter. Teacher Retirement System of Texas now owns 17,602 shares of the company’s stock valued at $553,000 after purchasing an additional 433 shares during the last quarter. Bouvel Investment Partners LLC boosted its holdings in Unity Software by 2.1% in the 4th quarter. Bouvel Investment Partners LLC now owns 22,186 shares of the company’s stock valued at $907,000 after purchasing an additional 446 shares during the last quarter. Finally, Zions Bancorporation N.A. boosted its holdings in Unity Software by 6.9% in the 3rd quarter. Zions Bancorporation N.A. now owns 7,973 shares of the company’s stock valued at $250,000 after purchasing an additional 515 shares during the last quarter. Hedge funds and other institutional investors own 73.46% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on U shares. Stifel Nicolaus boosted their target price on shares of Unity Software from $32.00 to $35.00 and gave the company a “buy” rating in a report on Friday, March 1st. Wedbush decreased their target price on shares of Unity Software from $50.00 to $33.50 and set an “outperform” rating on the stock in a report on Tuesday, February 27th. Piper Sandler upgraded shares of Unity Software from an “underweight” rating to a “neutral” rating and decreased their target price for the company from $35.00 to $30.00 in a report on Tuesday, February 27th. Macquarie lowered shares of Unity Software from a “neutral” rating to an “underperform” rating and set a $20.00 price objective on the stock. in a report on Monday, February 12th. Finally, Barclays decreased their price objective 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. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $37.03.

Unity Software Trading Up 1.2 %

Shares of NYSE:U opened at $24.55 on Thursday. Unity Software Inc. has a 52 week low of $22.20 and a 52 week high of $50.08. The company’s 50 day moving average is $26.35 and its two-hundred day moving average is $30.32. 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 $9.59 billion, a PE ratio of -11.37 and a beta of 2.42.

Unity Software (NYSE:U) last announced its quarterly earnings data on Monday, February 26th. The company reported ($0.66) EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.89). Unity Software had a negative net margin of 37.64% and a negative return on equity of 10.14%. The firm had revenue of $609.27 million during the quarter, compared to analysts’ expectations of $551.01 million. During the same period in the prior year, the company posted ($0.50) earnings per share. The company’s revenue for the quarter was up 35.1% on a year-over-year basis. Equities analysts predict that Unity Software Inc. will post -0.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Unity Software

In related news, SVP Anirma Gupta sold 1,037 shares of the 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 transaction, the senior vice president now directly owns 386,706 shares of the company’s stock, valued at approximately $9,443,360.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP Anirma Gupta sold 1,037 shares of the 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 transaction, the senior vice president now directly owns 386,706 shares of the company’s stock, valued at approximately $9,443,360.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CMO Carol W. Carpenter sold 2,000 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $26.58, for a total transaction of $53,160.00. Following the sale, the chief marketing officer now owns 444,617 shares of the company’s stock, valued at approximately $11,817,919.86. The disclosure for this sale can be found here. In the last three months, insiders have sold 336,917 shares of company stock valued at $9,412,460. Insiders own 6.30% 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.