Unity Software Inc. (NYSE:U) Shares Bought by Alliancebernstein L.P.

Alliancebernstein L.P. increased its stake in shares of Unity Software Inc. (NYSE:U - Free Report) by 541.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 799,817 shares of the company's stock after purchasing an additional 675,099 shares during the quarter. Alliancebernstein L.P. owned 0.20% of Unity Software worth $17,972,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. R Squared Ltd bought a new stake in shares of Unity Software during the 4th quarter worth approximately $30,000. Principal Securities Inc. lifted its position in shares of Unity Software by 50.5% during the fourth quarter. Principal Securities Inc. now owns 1,422 shares of the company's stock worth $32,000 after purchasing an additional 477 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Unity Software by 33.6% during the fourth quarter. GAMMA Investing LLC now owns 1,636 shares of the company's stock valued at $37,000 after purchasing an additional 411 shares during the period. Whipplewood Advisors LLC bought a new stake in Unity Software during the 4th quarter valued at about $40,000. Finally, Jones Financial Companies Lllp boosted its position in Unity Software by 144.8% in the 4th quarter. Jones Financial Companies Lllp now owns 1,902 shares of the company's stock valued at $43,000 after buying an additional 1,125 shares during the period. Hedge funds and other institutional investors own 73.46% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Morgan Stanley raised their target price on shares of Unity Software from $26.00 to $32.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. Needham & Company LLC lifted their target price on Unity Software from $26.00 to $33.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Benchmark raised Unity Software from a "sell" rating to a "hold" rating in a research report on Thursday, February 20th. Jefferies Financial Group decreased their price objective on Unity Software from $24.00 to $16.00 and set a "hold" rating for the company in a report on Monday, April 7th. Finally, Citigroup raised shares of Unity Software from a "neutral" rating to a "buy" rating and set a $30.00 price objective for the company in a research note on Tuesday, March 11th. Ten research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $24.46.

Remove Ads

Unity Software Stock Up 0.9 %

NYSE U traded up $0.17 on Friday, hitting $19.25. The stock had a trading volume of 5,933,506 shares, compared to its average volume of 10,873,252. Unity Software Inc. has a 52-week low of $13.90 and a 52-week high of $30.88. The business's fifty day moving average price is $21.71 and its 200 day moving average price is $22.13. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.41 and a quick ratio of 2.41. The stock has a market cap of $7.89 billion, a price-to-earnings ratio of -11.46 and a beta of 2.31.

Unity Software (NYSE:U - Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.05. Unity Software had a negative return on equity of 13.40% and a negative net margin of 36.63%. The company had revenue of $457.10 million for the quarter, compared to analyst estimates of $433.47 million. Equities research analysts anticipate that Unity Software Inc. will post -1.25 earnings per share for the current year.

Insider Activity

In related news, COO Alexander Blum sold 1,479 shares of the company's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $25.26, for a total value of $37,359.54. Following the sale, the chief operating officer now owns 495,648 shares in the company, valued at $12,520,068.48. This represents a 0.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Anirma Gupta sold 31,948 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $25.23, for a total transaction of $806,048.04. Following the completion of the transaction, the senior vice president now owns 542,942 shares in the company, valued at approximately $13,698,426.66. This trade represents a 5.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 781,903 shares of company stock worth $17,934,432 over the last 90 days. 6.30% of the stock is currently owned by corporate 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.