Raymond James Financial Inc. Makes New Investment in Unity Software Inc. (NYSE:U)

Raymond James Financial Inc. bought a new position in Unity Software Inc. (NYSE:U - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 51,237 shares of the company's stock, valued at approximately $1,151,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in U. Arizona State Retirement System boosted its position in shares of Unity Software by 2.3% in the 4th quarter. Arizona State Retirement System now owns 80,621 shares of the company's stock valued at $1,812,000 after purchasing an additional 1,840 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of Unity Software in the fourth quarter worth about $440,000. M&T Bank Corp boosted its holdings in shares of Unity Software by 22.9% in the fourth quarter. M&T Bank Corp now owns 35,121 shares of the company's stock worth $789,000 after buying an additional 6,540 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Unity Software by 3.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,958,400 shares of the company's stock valued at $44,005,000 after acquiring an additional 72,384 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Unity Software in the 4th quarter valued at approximately $1,714,000. 73.46% of the stock is owned by institutional investors and hedge funds.

Unity Software Stock Down 3.2 %

Shares of NYSE:U traded down $0.56 on Tuesday, reaching $16.69. The company had a trading volume of 12,858,296 shares, compared to its average volume of 10,824,050. The stock has a market capitalization of $6.84 billion, a P/E ratio of -9.93 and a beta of 2.31. The stock has a 50-day moving average price of $21.90 and a 200 day moving average price of $22.20. Unity Software Inc. has a twelve month low of $13.90 and a twelve month high of $30.88. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.70.

Remove Ads

Unity Software (NYSE:U - Get Free Report) last posted its earnings results on Thursday, February 20th. The company reported ($0.30) earnings per share for the quarter, topping 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 firm had revenue of $457.10 million during the quarter, compared to analyst estimates of $433.47 million. On average, equities analysts expect that Unity Software Inc. will post -1.25 EPS for the current year.

Insider Activity at Unity Software

In other news, Director David Helgason sold 38,924 shares of the company's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $26.92, for a total transaction of $1,047,834.08. Following the completion of the transaction, the director now directly owns 7,828,494 shares in the company, valued at $210,743,058.48. The trade was a 0.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Tomer Bar-Zeev sold 166,667 shares of the firm's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $20.04, for a total transaction of $3,340,006.68. Following the completion of the sale, the director now owns 2,981,479 shares in the company, valued at approximately $59,748,839.16. The trade was a 5.29 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 781,903 shares of company stock worth $17,934,432. 6.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Jefferies Financial Group cut their target price on shares of Unity Software from $24.00 to $16.00 and set a "hold" rating on the stock in a research note on Monday. Wedbush reissued an "outperform" rating and set a $27.00 price target on shares of Unity Software in a research report on Thursday, February 13th. Benchmark upgraded Unity Software from a "sell" rating to a "hold" rating in a research report on Thursday, February 20th. Macquarie assumed coverage on Unity Software in a research note on Monday, March 10th. They set a "neutral" rating and a $24.00 target price on the stock. Finally, HSBC raised shares of Unity Software from a "hold" rating to a "buy" rating and set a $34.00 price target for the company in a research report on Friday, February 21st. Ten investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $24.54.

Unity Software Company 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.