Bank of America Corp DE Purchases 350,006 Shares of Unity Software Inc. (NYSE:U)

Bank of America Corp DE lifted its stake in shares of Unity Software Inc. (NYSE:UGet Rating) by 33.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,396,398 shares of the company’s stock after purchasing an additional 350,006 shares during the quarter. Bank of America Corp DE’s holdings in Unity Software were worth $138,537,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Bouvel Investment Partners LLC grew its holdings in shares of Unity Software by 0.9% during the 1st quarter. Bouvel Investment Partners LLC now owns 12,951 shares of the company’s stock valued at $1,285,000 after purchasing an additional 117 shares during the last quarter. Mutual Advisors LLC grew its holdings in shares of Unity Software by 6.6% during the 4th quarter. Mutual Advisors LLC now owns 2,114 shares of the company’s stock valued at $302,000 after purchasing an additional 130 shares during the last quarter. Northern Oak Wealth Management Inc. acquired a new stake in Unity Software during the 4th quarter worth approximately $25,000. Fifth Third Bancorp boosted its position in Unity Software by 9.7% during the 1st quarter. Fifth Third Bancorp now owns 2,004 shares of the company’s stock worth $199,000 after buying an additional 177 shares during the period. Finally, Parkside Financial Bank & Trust boosted its position in Unity Software by 88.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 385 shares of the company’s stock worth $55,000 after buying an additional 181 shares during the period. 77.37% of the stock is owned by institutional investors.

Insider Buying and Selling at Unity Software

In other Unity Software news, CMO Carol W. Carpenter sold 797 shares of the business’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $55.55, for a total transaction of $44,273.35. Following the completion of the sale, the chief marketing officer now owns 220,397 shares in the company, valued at approximately $12,243,053.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director David Helgason sold 8,333 shares of the company’s stock in a transaction on Friday, August 19th. The shares were sold at an average price of $48.09, for a total value of $400,733.97. Following the completion of the sale, the director now owns 9,143,280 shares in the company, valued at approximately $439,700,335.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CMO Carol W. Carpenter sold 797 shares of the company’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $55.55, for a total transaction of $44,273.35. Following the completion of the sale, the chief marketing officer now owns 220,397 shares of the company’s stock, valued at approximately $12,243,053.35. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,367 shares of company stock worth $1,229,421. 6.90% of the stock is owned by corporate insiders.

Unity Software Stock Performance

NYSE:U opened at $33.32 on Friday. The company has a fifty day moving average of $42.39 and a 200-day moving average of $55.16. The firm has a market capitalization of $9.93 billion, a P/E ratio of -14.74 and a beta of 1.90. The company has a quick ratio of 3.44, a current ratio of 3.44 and a debt-to-equity ratio of 0.75. Unity Software Inc. has a twelve month low of $29.09 and a twelve month high of $210.00.

Unity Software (NYSE:UGet Rating) last released its quarterly earnings data on Tuesday, August 9th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.52) by ($0.02). The company had revenue of $297.00 million during the quarter, compared to the consensus estimate of $299.05 million. Unity Software had a negative net margin of 54.01% and a negative return on equity of 22.71%. The business’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.34) EPS. As a group, sell-side analysts anticipate that Unity Software Inc. will post -1.81 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. KeyCorp assumed coverage on shares of Unity Software in a research report on Thursday, June 30th. They set a “sector weight” rating on the stock. Credit Suisse Group cut their target price on shares of Unity Software from $137.00 to $105.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 21st. Barclays lifted their target price on shares of Unity Software from $35.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 10th. Oppenheimer lifted their target price on shares of Unity Software from $54.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 10th. Finally, BTIG Research dropped their price target on shares of Unity Software to $68.00 in a research report on Monday, August 15th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $70.93.

Unity Software Company Profile

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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.

Further Reading

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Institutional Ownership by Quarter for Unity Software (NYSE:U)

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