Unity Software Inc. $U Stock Position Raised by AlphaQuest LLC

AlphaQuest LLC lifted its position in Unity Software Inc. (NYSE:U) by 46.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,966 shares of the company’s stock after acquiring an additional 1,570 shares during the quarter. AlphaQuest LLC’s holdings in Unity Software were worth $97,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in U. Northern Trust Corp increased its stake in Unity Software by 31.6% in the 4th quarter. Northern Trust Corp now owns 1,734,537 shares of the company’s stock valued at $38,975,000 after buying an additional 416,214 shares during the period. Algert Global LLC increased its stake in Unity Software by 51.6% in the 4th quarter. Algert Global LLC now owns 116,166 shares of the company’s stock valued at $2,610,000 after buying an additional 39,546 shares during the period. Ameriprise Financial Inc. increased its stake in Unity Software by 3,843.9% in the 4th quarter. Ameriprise Financial Inc. now owns 1,769,948 shares of the company’s stock valued at $39,771,000 after buying an additional 1,725,070 shares during the period. Bridgefront Capital LLC acquired a new position in Unity Software in the 4th quarter valued at approximately $211,000. Finally, Brevan Howard Capital Management LP acquired a new position in Unity Software in the 4th quarter valued at approximately $1,095,000. Hedge funds and other institutional investors own 73.46% of the company’s stock.

Insiders Place Their Bets

In related news, Director Tomer Bar-Zeev sold 50,000 shares of the firm’s stock in a transaction on Monday, August 4th. The shares were sold at an average price of $33.18, for a total value of $1,659,000.00. Following the transaction, the director directly owned 2,148,146 shares in the company, valued at approximately $71,275,484.28. This trade represents a 2.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director David Helgason sold 261,473 shares of the firm’s stock in a transaction on Friday, June 6th. The shares were sold at an average price of $25.70, for a total transaction of $6,719,856.10. Following the completion of the transaction, the director owned 7,489,173 shares in the company, valued at $192,471,746.10. The trade was a 3.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 754,655 shares of company stock worth $23,824,311 in the last ninety days. 3.61% of the stock is owned by insiders.

Unity Software Stock Performance

Shares of U opened at $39.40 on Wednesday. The company’s fifty day moving average is $33.16 and its 200-day moving average is $25.99. Unity Software Inc. has a 12 month low of $15.33 and a 12 month high of $41.41. The firm has a market cap of $16.65 billion, a price-to-earnings ratio of -37.17 and a beta of 2.33. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.70.

Unity Software (NYSE:U) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.01). Unity Software had a negative return on equity of 13.59% and a negative net margin of 24.38%.The business had revenue of $440.94 million for the quarter, compared to analyst estimates of $425.18 million. During the same quarter last year, the company earned ($0.32) EPS. The business’s revenue for the quarter was down 1.9% compared to the same quarter last year. Equities analysts expect that Unity Software Inc. will post -1.25 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on U. Wedbush upped their price objective on shares of Unity Software from $39.00 to $41.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Needham & Company LLC upped their price objective on shares of Unity Software from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. BTIG Research lowered shares of Unity Software from a “neutral” rating to a “sell” rating and set a $25.00 price objective on the stock. in a research note on Wednesday, July 23rd. JMP Securities upped their price objective on shares of Unity Software from $30.00 to $35.00 and gave the company a “market outperform” rating in a research note on Thursday, August 7th. Finally, Morgan Stanley increased their price target on shares of Unity Software from $25.00 to $40.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Unity Software has an average rating of “Moderate Buy” and an average price target of $31.20.

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.