Ameriprise Financial Inc. Increases Holdings in Unity Software Inc. (NYSE:U)

Ameriprise Financial Inc. raised its stake in shares of Unity Software Inc. (NYSE:U) by 3,843.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,769,948 shares of the company’s stock after buying an additional 1,725,070 shares during the quarter. Ameriprise Financial Inc.’s holdings in Unity Software were worth $39,771,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Unity Software in the fourth quarter worth about $269,320,000. Slate Path Capital LP bought a new stake in Unity Software during the 4th quarter worth approximately $62,387,000. Capital International Investors lifted its holdings in Unity Software by 10.4% during the fourth quarter. Capital International Investors now owns 18,886,853 shares of the company’s stock valued at $424,388,000 after purchasing an additional 1,786,032 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Unity Software by 366.6% during the fourth 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. Finally, Alliancebernstein L.P. boosted its position in shares of Unity Software by 541.3% in the fourth quarter. Alliancebernstein L.P. now owns 799,817 shares of the company’s stock worth $17,972,000 after purchasing an additional 675,099 shares during the period. 73.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on U. Needham & Company LLC lowered their target price on shares of Unity Software from $33.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday. UBS Group cut their price target on Unity Software from $30.00 to $22.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Citizens Jmp upgraded Unity Software from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 11th. Morgan Stanley cut their price target on Unity Software from $32.00 to $25.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Finally, Benchmark upgraded Unity Software from a “sell” rating to a “hold” rating in a research note on Thursday, February 20th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $24.21.

Unity Software Trading Down 0.4%

U opened at $20.57 on Monday. Unity Software Inc. has a one year low of $13.90 and a one year high of $30.88. The stock has a market capitalization of $8.55 billion, a PE ratio of -12.24 and a beta of 2.29. The business’s 50 day moving average price is $20.64 and its 200 day moving average price is $22.01. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.41 and a current ratio of 2.41.

Unity Software (NYSE:U) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.19. Unity Software had a negative return on equity of 13.40% and a negative net margin of 36.63%. The company had revenue of $435.00 million for the quarter, compared to analysts’ expectations of $415.77 million. During the same period in the prior year, the firm earned $0.28 earnings per share. The firm’s revenue was down 5.5% compared to the same quarter last year. As a group, equities research analysts expect that Unity Software Inc. will post -1.25 EPS for the current year.

Insider Activity

In related news, CAO Mark Barrysmith sold 1,395 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $21.68, for a total transaction of $30,243.60. Following the transaction, the chief accounting officer now owns 450,881 shares of the company’s stock, valued at $9,775,100.08. This trade represents a 0.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Alexander Blum sold 1,479 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $25.26, for a total value of $37,359.54. Following the transaction, the chief operating officer now directly owns 495,648 shares in the company, valued at approximately $12,520,068.48. This represents a 0.30% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 782,231 shares of company stock worth $18,033,528. Corporate insiders own 6.30% of the company’s stock.

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.