First Horizon Advisors Inc. lifted its holdings in Unity Software Inc. (NYSE:U – Get Rating) by 8,326.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,539 shares of the company's stock after acquiring an additional 3,497 shares during the period. First Horizon Advisors Inc.'s holdings in Unity Software were worth $129,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in the business. San Luis Wealth Advisors LLC acquired a new stake in Unity Software in the first quarter valued at approximately $31,000. Tcwp LLC bought a new position in shares of Unity Software in the first quarter valued at $26,000. Capital Advisory Group Advisory Services LLC acquired a new position in shares of Unity Software during the first quarter valued at about $28,000. FourThought Financial LLC bought a new position in Unity Software in the 1st quarter valued at about $32,000. Finally, Washington Trust Advisors Inc. acquired a new position in Unity Software during the 1st quarter valued at about $37,000. 77.37% of the stock is currently owned by institutional investors.
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Insider Activity at Unity Software
In other news, CMO Carol W. Carpenter sold 797 shares of the stock in a transaction that occurred 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 $12,243,053.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CFO Luis Felipe Visoso sold 9,894 shares of the business's stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $45.94, for a total transaction of $454,530.36. Following the transaction, the chief financial officer now owns 314,251 shares in the company, valued at approximately $14,436,690.94. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CMO Carol W. Carpenter sold 797 shares of the stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $55.55, for a total value 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. Insiders sold 27,164 shares of company stock worth $1,253,905 in the last ninety days. 6.90% of the stock is owned by company insiders.
Unity Software Stock Performance
Shares of U opened at $28.38 on Monday. Unity Software Inc. has a 12-month low of $27.60 and a 12-month high of $210.00. The company has a current ratio of 3.44, a quick ratio of 3.44 and a debt-to-equity ratio of 0.75. The stock has a 50-day moving average price of $38.10 and a 200-day moving average price of $45.59.
Unity Software (NYSE:U – Get Rating) last posted 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). Unity Software had a negative net margin of 54.01% and a negative return on equity of 22.71%. The company had revenue of $297.00 million for the quarter, compared to analysts' expectations of $299.05 million. During the same quarter last year, the business posted ($0.34) EPS. The business's quarterly revenue was up 8.6% compared to the same quarter last year. Equities analysts expect that Unity Software Inc. will post -1.79 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on U shares. Wolfe Research initiated coverage on Unity Software in a report on Tuesday, August 16th. They issued an "outperform" rating and a $70.00 target price on the stock. Stifel Nicolaus raised their price target on shares of Unity Software to $60.00 in a research report on Tuesday, August 9th. KeyCorp initiated coverage on shares of Unity Software in a research report on Thursday, June 30th. They issued a "sector weight" rating for the company. Barclays dropped their target price on shares of Unity Software from $49.00 to $33.00 and set an "equal weight" rating on the stock in a research report on Tuesday, October 18th. Finally, DA Davidson cut their price objective on Unity Software from $85.00 to $60.00 in a research report on Thursday, July 14th. One analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $66.94.
Unity Software 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.
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