HighTower Advisors LLC Boosts Stock Position in Unity Software Inc. (NYSE:U)

HighTower Advisors LLC grew its stake in Unity Software Inc. (NYSE:U – Get Rating) by 0.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 104,041 shares of the company’s stock after purchasing an additional 805 shares during the period. HighTower Advisors LLC’s holdings in Unity Software were worth $2,970,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Prudential PLC raised its stake in shares of Unity Software by 31.7% in the fourth quarter. Prudential PLC now owns 61,149 shares of the company’s stock valued at $1,748,000 after acquiring an additional 14,714 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its position in shares of Unity Software by 43.4% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 30,996 shares of the company’s stock valued at $886,000 after acquiring an additional 9,382 shares during the period. Alpha Family Trust acquired a new position in shares of Unity Software during the 4th quarter worth approximately $11,833,000. Raymond James Financial Services Advisors Inc. raised its position in shares of Unity Software by 5.2% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 88,850 shares of the company’s stock worth $2,540,000 after purchasing an additional 4,392 shares during the last quarter. Finally, Prospera Financial Services Inc acquired a new position in shares of Unity Software during the 4th quarter worth approximately $203,000. 82.50% of the stock is currently owned by hedge funds and other institutional investors.

Unity Software Trading Down 3.8 %

NYSE U opened at $29.10 on Monday. Unity Software Inc. has a 12 month low of $21.22 and a 12 month high of $58.63. The company has a current ratio of 2.39, a quick ratio of 2.39 and a debt-to-equity ratio of 0.78. The company’s 50 day simple moving average is $28.88 and its 200 day simple moving average is $31.23.

Unity Software (NYSE:U – Get Rating) last posted its quarterly earnings data on Wednesday, February 22nd. The company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.24). Unity Software had a negative net margin of 63.42% and a negative return on equity of 23.63%. The company had revenue of $450.97 million for the quarter, compared to analyst estimates of $433.25 million. On average, analysts anticipate that Unity Software Inc. will post -1.46 EPS for the current year.

Insiders Place Their Bets

In other Unity Software news, insider Tomer Bar-Zeev sold 37,500 shares of Unity Software stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $32.13, for a total value of $1,204,875.00. Following the transaction, the insider now owns 1,763,959 shares in the company, valued at $56,676,002.67. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Unity Software news, SVP Marc Whitten sold 3,889 shares of Unity Software stock in a transaction on Monday, February 27th. The shares were sold at an average price of $30.27, for a total transaction of $117,720.03. Following the completion of the sale, the senior vice president now owns 677,682 shares of the company’s stock, valued at approximately $20,513,434.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Tomer Bar-Zeev sold 37,500 shares of Unity Software stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $32.13, for a total transaction of $1,204,875.00. Following the sale, the insider now directly owns 1,763,959 shares of the company’s stock, valued at approximately $56,676,002.67. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 155,328 shares of company stock worth $4,926,866. 6.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

U has been the subject of several analyst reports. Credit Suisse Group cut their price target on Unity Software from $71.00 to $67.00 and set an “outperform” rating for the company in a report on Thursday, February 23rd. Barclays lowered their target price on Unity Software from $32.00 to $31.00 in a research note on Thursday, May 11th. The Goldman Sachs Group increased their price target on shares of Unity Software from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 15th. Piper Sandler raised their target price on shares of Unity Software from $33.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, February 23rd. Finally, Morgan Stanley raised their target price on shares of Unity Software from $27.50 to $28.00 in a report on Thursday, May 11th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $40.06.

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.