Point72 DIFC Ltd Invests $2.13 Million in Unity Software Inc. (NYSE:U)

Point72 DIFC Ltd bought a new position in Unity Software Inc. (NYSE:U - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 130,682 shares of the company's stock, valued at approximately $2,125,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Xponance Inc. boosted its holdings in shares of Unity Software by 8.5% in the second quarter. Xponance Inc. now owns 36,578 shares of the company's stock valued at $595,000 after acquiring an additional 2,863 shares in the last quarter. Magnetar Financial LLC bought a new position in shares of Unity Software in the second quarter valued at approximately $2,535,000. Thrivent Financial for Lutherans bought a new position in shares of Unity Software in the second quarter valued at approximately $515,000. Sei Investments Co. boosted its holdings in shares of Unity Software by 29.1% in the second quarter. Sei Investments Co. now owns 27,789 shares of the company's stock valued at $452,000 after acquiring an additional 6,264 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of Unity Software by 161.3% in the second quarter. Canada Pension Plan Investment Board now owns 579,179 shares of the company's stock valued at $9,417,000 after acquiring an additional 357,500 shares in the last quarter. Institutional investors own 73.46% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on U shares. Stifel Nicolaus increased their target price on shares of Unity Software from $20.00 to $25.00 and gave the company a "buy" rating in a research note on Friday, September 13th. JMP Securities reissued a "market perform" rating on shares of Unity Software in a research note on Friday, September 13th. Needham & Company LLC cut their target price on shares of Unity Software from $31.00 to $23.00 and set a "buy" rating for the company in a research note on Friday, August 9th. Benchmark cut 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 note on Friday, August 9th. Finally, The Goldman Sachs Group cut their target price on shares of Unity Software from $26.00 to $22.50 and set a "neutral" rating for the company in a research note on Friday, August 9th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $27.46.

Insider Activity at Unity Software

In related news, Director David Helgason sold 250,000 shares of the firm's stock in a transaction on Friday, September 13th. The shares were sold at an average price of $20.59, for a total value of $5,147,500.00. Following the transaction, the director now directly owns 8,201,851 shares in the company, valued at approximately $168,876,112.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Unity Software news, Director David Helgason sold 250,000 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $20.59, for a total value of $5,147,500.00. Following the completion of the sale, the director now directly owns 8,201,851 shares of the company's stock, valued at approximately $168,876,112.09. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Felix The sold 30,000 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $17.89, for a total transaction of $536,700.00. Following the completion of the sale, the senior vice president now directly owns 423,679 shares of the company's stock, valued at $7,579,617.31. The disclosure for this sale can be found here. In the last three months, insiders have sold 283,906 shares of company stock worth $5,753,611. 6.30% of the stock is owned by insiders.

Unity Software Stock Down 5.6 %

Shares of U traded down $1.30 during mid-day trading on Wednesday, hitting $21.89. 28,117,384 shares of the company's stock were exchanged, compared to its average volume of 10,580,304. The firm has a fifty day moving average of $17.15 and a two-hundred day moving average of $19.95. Unity Software Inc. has a twelve month low of $13.90 and a twelve month high of $43.54. The stock has a market cap of $8.69 billion, a price-to-earnings ratio of -9.77 and a beta of 2.25. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 0.70.

Unity Software (NYSE:U - Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.32) EPS for the quarter, topping the consensus estimate 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 analyst estimates of $438.37 million. During the same quarter in the prior year, the business posted ($0.26) EPS. Unity Software's quarterly revenue was down 15.8% on a year-over-year basis. On average, sell-side analysts forecast that Unity Software Inc. will post -1.86 earnings per share for the current year.

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.