Royal London Asset Management Ltd. Boosts Stake in Unity Software Inc. (NYSE:U)

Royal London Asset Management Ltd. raised its position in Unity Software Inc. (NYSE:U) by 10.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 133,762 shares of the company’s stock after buying an additional 12,174 shares during the period. Royal London Asset Management Ltd.’s holdings in Unity Software were worth $2,175,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wedbush Securities Inc. increased its stake in Unity Software by 203.8% in the 2nd quarter. Wedbush Securities Inc. now owns 32,966 shares of the company’s stock valued at $536,000 after buying an additional 22,116 shares during the last quarter. Prudential PLC purchased a new stake in shares of Unity Software during the 2nd quarter worth approximately $343,000. Quest Partners LLC increased its stake in shares of Unity Software by 213,614.3% during the 2nd quarter. Quest Partners LLC now owns 29,920 shares of the company’s stock worth $486,000 after purchasing an additional 29,906 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Unity Software during the 2nd quarter worth approximately $82,000. Finally, Flynn Zito Capital Management LLC increased its stake in shares of Unity Software by 84.7% during the 2nd quarter. Flynn Zito Capital Management LLC now owns 14,692 shares of the company’s stock worth $239,000 after purchasing an additional 6,738 shares during the last quarter. Hedge funds and other institutional investors own 73.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. JMP Securities restated a “market perform” rating on shares of Unity Software in a research note on Friday. Piper Sandler restated a “neutral” rating and set a $17.00 price target (down previously from $25.00) on shares of Unity Software in a research note on Friday, August 9th. Wedbush decreased their price target on shares of Unity Software from $33.50 to $21.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Morgan Stanley raised shares of Unity Software from an “equal weight” rating to an “overweight” rating and set a $22.00 price objective for the company in a report on Tuesday, September 3rd. Finally, Macquarie cut their price objective on shares of Unity Software from $14.00 to $12.00 and set an “underperform” rating for the company in a report on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Unity Software currently has an average rating of “Hold” and a consensus price target of $26.82.

Insider Activity

In other news, Director David Helgason sold 250,000 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $20.59, for a total transaction of $5,147,500.00. Following the sale, the director now owns 8,201,851 shares in the company, valued at approximately $168,876,112.09. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director David Helgason sold 250,000 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $20.59, for a total transaction of $5,147,500.00. Following the sale, the director now owns 8,201,851 shares in the company, valued at approximately $168,876,112.09. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Anirma Gupta sold 1,506 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $16.73, for a total transaction of $25,195.38. Following the sale, the senior vice president now owns 409,540 shares in the company, valued at approximately $6,851,604.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 285,472 shares of company stock worth $5,775,071. 6.30% of the stock is currently owned by corporate insiders.

Unity Software Stock Up 5.3 %

Shares of NYSE:U opened at $19.91 on Friday. The firm has a fifty day moving average price of $16.44 and a two-hundred day moving average price of $20.33. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.36 and a quick ratio of 2.36. Unity Software Inc. has a one year low of $13.90 and a one year high of $43.54. The company has a market cap of $7.90 billion, a price-to-earnings ratio of -8.89 and a beta of 2.25.

Unity Software (NYSE:U) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.12. Unity Software had a negative net margin of 38.52% and a negative return on equity of 8.78%. The firm had revenue of $449.30 million during the quarter, compared to the consensus estimate of $438.37 million. During the same period last year, the firm earned ($0.26) EPS. The business’s quarterly revenue was down 15.8% compared to the same quarter last year. Analysts anticipate that Unity Software Inc. will post -1.86 EPS for the current fiscal year.

Unity Software Company 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.