Red Spruce Capital LLC Buys Shares of 9,153 Unity Software Inc. (NYSE:U)

Red Spruce Capital LLC purchased a new position in shares of Unity Software Inc. (NYSE:U) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,153 shares of the company’s stock, valued at approximately $397,000.

Several other institutional investors have also recently made changes to their positions in U. Norges Bank purchased a new stake in Unity Software in the fourth quarter worth about $157,766,000. Clearbridge Investments LLC lifted its position in shares of Unity Software by 2,365.2% in the 1st quarter. Clearbridge Investments LLC now owns 4,420,370 shares of the company’s stock worth $438,545,000 after purchasing an additional 4,241,060 shares during the period. Vanguard Group Inc. boosted its stake in shares of Unity Software by 17.2% during the first quarter. Vanguard Group Inc. now owns 17,279,116 shares of the company’s stock valued at $1,714,261,000 after purchasing an additional 2,531,507 shares in the last quarter. Neuberger Berman Group LLC increased its holdings in Unity Software by 5,564.1% during the fourth quarter. Neuberger Berman Group LLC now owns 2,105,797 shares of the company’s stock valued at $60,205,000 after buying an additional 2,068,619 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in Unity Software by 184.7% in the second quarter. Goldman Sachs Group Inc. now owns 2,411,870 shares of the company’s stock worth $88,805,000 after buying an additional 1,564,719 shares in the last quarter. Hedge funds and other institutional investors own 64.74% of the company’s stock.

Insiders Place Their Bets

In related news, Director Robynne Sisco sold 25,768 shares of the firm’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $40.00, for a total transaction of $1,030,720.00. Following the completion of the transaction, the director now owns 14,700 shares of the company’s stock, valued at $588,000. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Robynne Sisco sold 25,768 shares of the company’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $40.00, for a total value of $1,030,720.00. Following the sale, the director now owns 14,700 shares in the company, valued at $588,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John S. Riccitiello sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $40.00, for a total value of $80,000.00. Following the sale, the chief executive officer now directly owns 3,211,394 shares in the company, valued at $128,455,760. The disclosure for this sale can be found here. In the last ninety days, insiders sold 595,621 shares of company stock valued at $24,534,143. 9.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Needham & Company LLC increased their target price on Unity Software from $44.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, August 3rd. Credit Suisse Group dropped their price objective on Unity Software from $66.00 to $61.00 and set an “outperform” rating on the stock in a research report on Thursday, August 3rd. Piper Sandler increased their price target on shares of Unity Software from $43.00 to $48.00 and gave the company an “overweight” rating in a research report on Monday, July 31st. Wells Fargo & Company raised their price target on shares of Unity Software from $48.00 to $54.00 and gave the company an “overweight” rating in a report on Thursday, August 3rd. Finally, CICC Research started coverage on shares of Unity Software in a research note on Monday, August 28th. They set an “outperform” rating for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $42.69.

Unity Software Stock Performance

U stock traded up $0.10 during midday trading on Thursday, reaching $36.92. The stock had a trading volume of 5,296,404 shares, compared to its average volume of 11,072,895. The firm has a fifty day simple moving average of $39.75 and a two-hundred day simple moving average of $34.47. Unity Software Inc. has a 52-week low of $21.22 and a 52-week high of $50.08. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.46 and a current ratio of 2.46. The stock has a market cap of $14.16 billion, a PE ratio of -12.88 and a beta of 2.41.

Unity Software (NYSE:U) last announced its quarterly earnings data on Wednesday, August 2nd. The company reported ($0.26) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.04. Unity Software had a negative return on equity of 19.44% and a negative net margin of 54.46%. The business had revenue of $533.48 million for the quarter, compared to analyst estimates of $514.80 million. As a group, equities research analysts anticipate that Unity Software Inc. will post -0.88 EPS 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.