Magnetar Financial LLC Makes New $2.54 Million Investment in Unity Software Inc. (NYSE:U)

Magnetar Financial LLC acquired a new position in Unity Software Inc. (NYSE:U - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 155,874 shares of the company's stock, valued at approximately $2,535,000.

A number of other large investors also recently bought and sold shares of the business. Capital Research Global Investors boosted its position in shares of Unity Software by 510.2% during the fourth quarter. Capital Research Global Investors now owns 7,181,661 shares of the company's stock worth $293,658,000 after buying an additional 6,004,655 shares during the period. Janney Montgomery Scott LLC lifted its position in Unity Software by 26.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 35,336 shares of the company's stock valued at $1,445,000 after acquiring an additional 7,484 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in Unity Software during the 1st quarter worth approximately $3,878,000. Seldon Capital LP acquired a new position in Unity Software in the fourth quarter valued at $7,576,000. Finally, Vanguard Group Inc. grew its position in Unity Software by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 26,336,775 shares of the company's stock valued at $703,192,000 after buying an additional 208,566 shares during the last quarter. Institutional investors and hedge funds own 73.46% of the company's stock.

Unity Software Stock Up 8.5 %

Shares of NYSE:U traded up $1.82 during trading on Tuesday, reaching $23.19. 29,230,400 shares of the stock were exchanged, compared to its average volume of 10,483,257. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.36 and a quick ratio of 2.36. The stock has a fifty day moving average of $16.96 and a two-hundred day moving average of $19.96. Unity Software Inc. has a 1-year low of $13.90 and a 1-year high of $43.54. The firm has a market cap of $9.06 billion, a price-to-earnings ratio of -10.36 and a beta of 2.25.

Unity Software (NYSE:U - Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.32) EPS for the quarter, topping analysts' consensus estimates of ($0.44) by $0.12. Unity Software had a negative net margin of 38.52% and a negative return on equity of 8.78%. The company had revenue of $449.30 million for the quarter, compared to analysts' expectations of $438.37 million. During the same quarter in the previous year, the firm posted ($0.26) EPS. Unity Software's revenue was down 15.8% on a year-over-year basis. Research analysts anticipate that Unity Software Inc. will post -1.86 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Anirma Gupta sold 1,506 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $16.73, for a total value of $25,195.38. Following the completion of the transaction, the senior vice president now owns 409,540 shares of the company's stock, valued at approximately $6,851,604.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Anirma Gupta sold 1,506 shares of the business's stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $16.73, for a total transaction of $25,195.38. Following the completion of the transaction, the senior vice president now directly owns 409,540 shares of the company's stock, valued at $6,851,604.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Felix The sold 30,000 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $17.89, for a total value of $536,700.00. Following the completion of the transaction, the senior vice president now directly owns 423,679 shares in the company, valued at approximately $7,579,617.31. The disclosure for this sale can be found here. In the last 90 days, insiders sold 283,906 shares of company stock valued at $5,753,611. Corporate insiders own 6.30% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on U. Wedbush increased their price target on Unity Software from $21.00 to $27.00 and gave the stock an "outperform" rating in a research note on Monday, September 16th. The Goldman Sachs Group cut their price target on Unity Software from $26.00 to $22.50 and set a "neutral" rating on the stock in a research note on Friday, August 9th. Needham & Company LLC lowered their price target on Unity Software from $31.00 to $23.00 and set a "buy" rating for the company in a report on Friday, August 9th. JMP Securities restated a "market perform" rating on shares of Unity Software in a research report on Friday, September 13th. Finally, Benchmark decreased their target price on shares of Unity Software from $16.00 to $10.00 and set a "sell" rating for the company in a research report on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $27.46.

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.