Vanguard Group Inc. Buys 625,872 Shares of Unity Software Inc. (NYSE:U)

Vanguard Group Inc. grew its position in shares of Unity Software Inc. (NYSE:U - Free Report) by 2.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,123,035 shares of the company's stock after purchasing an additional 625,872 shares during the period. Vanguard Group Inc. owned 7.73% of Unity Software worth $699,335,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of U. Geode Capital Management LLC boosted its holdings in shares of Unity Software by 9.7% in the 3rd quarter. Geode Capital Management LLC now owns 4,685,129 shares of the company's stock valued at $106,008,000 after purchasing an additional 413,474 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Unity Software by 3.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,958,400 shares of the company's stock worth $44,005,000 after purchasing an additional 72,384 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Unity Software by 366.6% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,936,131 shares of the company's stock valued at $43,505,000 after purchasing an additional 1,521,165 shares in the last quarter. Swiss National Bank grew its holdings in shares of Unity Software by 2.1% during the 4th quarter. Swiss National Bank now owns 546,400 shares of the company's stock worth $12,278,000 after purchasing an additional 11,300 shares during the period. Finally, Erste Asset Management GmbH acquired a new stake in Unity Software during the 3rd quarter worth approximately $12,317,000. 73.46% of the stock is owned by institutional investors and hedge funds.

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Insiders Place Their Bets

In related news, Director Tomer Bar-Zeev sold 250,000 shares of the business's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $25.02, for a total value of $6,255,000.00. Following the sale, the director now owns 3,648,146 shares of the company's stock, valued at $91,276,612.92. The trade was a 6.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Mark Barrysmith sold 1,362 shares of the stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $21.91, for a total value of $29,841.42. Following the sale, the chief accounting officer now owns 452,276 shares of the company's stock, valued at approximately $9,909,367.16. The trade was a 0.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,031,903 shares of company stock valued at $24,189,432. 6.30% of the stock is currently owned by corporate insiders.

Unity Software Price Performance

Shares of NYSE U traded up $0.80 during midday trading on Wednesday, reaching $20.99. 6,468,258 shares of the company traded hands, compared to its average volume of 10,674,240. Unity Software Inc. has a 12 month low of $13.90 and a 12 month high of $30.88. The stock's 50-day simple moving average is $22.50 and its 200-day simple moving average is $22.32. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.41 and a current ratio of 2.41. The firm has a market cap of $8.60 billion, a PE ratio of -12.49 and a beta of 2.27.

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Morgan Stanley lifted their target price on shares of Unity Software from $26.00 to $32.00 and gave the company an "overweight" rating in a report on Friday, February 21st. Barclays increased their price objective on shares of Unity Software from $18.00 to $26.00 and gave the company an "equal weight" rating in a research report on Friday, February 21st. UBS Group upped their target price on shares of Unity Software from $21.00 to $23.00 and gave the company a "neutral" rating in a research note on Wednesday, January 22nd. Needham & Company LLC raised their price target on shares of Unity Software from $26.00 to $33.00 and gave the company a "buy" rating in a report on Friday, February 21st. Finally, Benchmark upgraded Unity Software from a "sell" rating to a "hold" rating in a research note on Thursday, February 20th. Ten research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $25.32.

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.