IQ EQ FUND MANAGEMENT IRELAND Ltd Grows Position in Unity Software Inc. $U

IQ EQ FUND MANAGEMENT IRELAND Ltd raised its position in shares of Unity Software Inc. (NYSE:U) by 134.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 147,357 shares of the company’s stock after purchasing an additional 84,503 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Unity Software were worth $5,900,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. GAMMA Investing LLC lifted its position in shares of Unity Software by 10.8% in the third quarter. GAMMA Investing LLC now owns 2,967 shares of the company’s stock worth $119,000 after buying an additional 288 shares in the last quarter. Allworth Financial LP raised its position in Unity Software by 28.4% in the 2nd quarter. Allworth Financial LP now owns 1,865 shares of the company’s stock worth $45,000 after purchasing an additional 412 shares during the period. Captrust Financial Advisors boosted its stake in shares of Unity Software by 2.1% during the second quarter. Captrust Financial Advisors now owns 22,330 shares of the company’s stock valued at $540,000 after purchasing an additional 462 shares during the period. Stephens Inc. AR increased its holdings in Unity Software by 4.1% during the 3rd quarter. Stephens Inc. AR now owns 11,826 shares of the company’s stock worth $474,000 after purchasing an additional 471 shares during the period. Finally, Forum Financial Management LP increased its position in Unity Software by 4.6% during the 3rd quarter. Forum Financial Management LP now owns 11,086 shares of the company’s stock valued at $444,000 after purchasing an additional 492 shares during the period. 73.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on U shares. Wall Street Zen raised shares of Unity Software from a “hold” rating to a “buy” rating in a research note on Saturday, December 6th. Morgan Stanley upped their price objective on Unity Software from $48.00 to $52.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 13th. Piper Sandler upgraded Unity Software from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $43.00 to $59.00 in a research note on Thursday, December 11th. Wedbush boosted their target price on shares of Unity Software from $50.00 to $55.00 and gave the stock an “outperform” rating in a report on Tuesday, December 2nd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Unity Software in a report on Wednesday, January 21st. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $45.27.

Insider Transactions at Unity Software

In other Unity Software news, CFO Jarrod Yahes sold 34,719 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $41.38, for a total transaction of $1,436,672.22. Following the completion of the transaction, the chief financial officer directly owned 573,871 shares of the company’s stock, valued at approximately $23,746,781.98. This trade represents a 5.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director David Helgason sold 393,312 shares of the company’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $49.64, for a total transaction of $19,524,007.68. Following the completion of the sale, the director directly owned 5,439,173 shares in the company, valued at $270,000,547.72. This trade represents a 6.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 1,382,935 shares of company stock valued at $65,062,248. 3.61% of the stock is owned by company insiders.

Unity Software Trading Down 7.4%

Shares of Unity Software stock opened at $23.09 on Friday. The firm’s 50 day simple moving average is $42.65 and its two-hundred day simple moving average is $40.01. The firm has a market capitalization of $9.88 billion, a price-to-earnings ratio of -21.99, a PEG ratio of 26.14 and a beta of 2.04. Unity Software Inc. has a 12-month low of $15.33 and a 12-month high of $52.15. The company has a current ratio of 2.78, a quick ratio of 2.78 and a debt-to-equity ratio of 0.70.

Unity Software (NYSE:U) last released its earnings results on Wednesday, November 5th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.03. The firm had revenue of $470.62 million for the quarter, compared to the consensus estimate of $452.87 million. Unity Software had a negative return on equity of 9.45% and a negative net margin of 24.15%.The firm’s revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.31) EPS. Analysts predict that Unity Software Inc. will post -1.25 EPS for the current year.

Unity Software Company Profile

Unity Software is a leading provider of a real-time 3D development platform that enables creators across industries to design, build and operate interactive, real-time experiences. Originally focused on the game development market, Unity’s technology now extends into sectors such as film, automotive, architecture, engineering and construction, delivering immersive content for mobile, desktop, console, augmented reality and virtual reality devices. The company’s core offering comprises a suite of authoring tools, runtime engines and cloud services that streamline the creation and deployment of interactive 3D applications.

The Unity Editor serves as the central hub where developers design scenes, script behavior and iterate on assets.