Ieq Capital LLC Acquires Shares of 85,008 Unity Software Inc. $U

Ieq Capital LLC acquired a new stake in shares of Unity Software Inc. (NYSE:U) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 85,008 shares of the company’s stock, valued at approximately $1,665,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in U. Cornerstone Planning Group LLC lifted its holdings in shares of Unity Software by 30,300.0% during the first quarter. Cornerstone Planning Group LLC now owns 1,216 shares of the company’s stock valued at $25,000 after acquiring an additional 1,212 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Unity Software in the fourth quarter valued at about $36,000. GAMMA Investing LLC raised its holdings in shares of Unity Software by 72.5% in the first quarter. GAMMA Investing LLC now owns 2,822 shares of the company’s stock valued at $55,000 after buying an additional 1,186 shares during the last quarter. Signaturefd LLC raised its holdings in shares of Unity Software by 26.3% in the first quarter. Signaturefd LLC now owns 3,658 shares of the company’s stock valued at $72,000 after buying an additional 762 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of Unity Software by 171.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,301 shares of the company’s stock valued at $84,000 after buying an additional 2,715 shares during the last quarter. 73.46% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

U has been the subject of a number of research analyst reports. Wedbush lifted their price target on Unity Software from $39.00 to $41.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Bank of America initiated coverage on Unity Software in a report on Thursday, June 26th. They issued an “underperform” rating and a $15.00 price target for the company. JMP Securities lifted their price target on Unity Software from $30.00 to $35.00 and gave the company a “market outperform” rating in a report on Thursday, August 7th. Stifel Nicolaus cut their price target on Unity Software from $35.00 to $28.00 and set a “buy” rating for the company in a report on Thursday, May 8th. Finally, Barclays lifted their price target on Unity Software from $25.00 to $30.00 and gave the company an “equal weight” rating in a report on Thursday, August 7th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Unity Software currently has an average rating of “Moderate Buy” and a consensus target price of $31.20.

Insider Activity

In other news, Director Tomer Bar-Zeev sold 50,000 shares of the business’s stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $33.18, for a total transaction of $1,659,000.00. Following the completion of the transaction, the director directly owned 2,148,146 shares in the company, valued at approximately $71,275,484.28. The trade was a 2.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Alexander Blum sold 63,813 shares of the business’s stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $39.41, for a total value of $2,514,870.33. Following the transaction, the chief operating officer owned 603,811 shares of the company’s stock, valued at $23,796,191.51. The trade was a 9.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 754,655 shares of company stock worth $23,824,311. Corporate insiders own 3.61% of the company’s stock.

Unity Software Stock Performance

Shares of NYSE:U opened at $39.39 on Monday. The stock has a market capitalization of $16.64 billion, a P/E ratio of -37.16 and a beta of 2.33. Unity Software Inc. has a 1-year low of $15.33 and a 1-year high of $41.41. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.70. The business has a 50-day moving average price of $32.53 and a two-hundred day moving average price of $25.77.

Unity Software (NYSE:U) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.01). The firm had revenue of $440.94 million for the quarter, compared to the consensus estimate of $425.18 million. Unity Software had a negative return on equity of 13.59% and a negative net margin of 24.38%.The business’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.32) earnings per share. Equities analysts predict that Unity Software Inc. will post -1.25 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.