Unity Software Inc. (NYSE:U) Shares Acquired by Parallel Advisors LLC

Parallel Advisors LLC lifted its position in shares of Unity Software Inc. (NYSE:U) by 25.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 47,939 shares of the company’s stock after buying an additional 9,706 shares during the period. Parallel Advisors LLC’s holdings in Unity Software were worth $779,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its stake in Unity Software by 3.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 840,971 shares of the company’s stock worth $34,387,000 after buying an additional 25,995 shares during the last quarter. Principal Securities Inc. purchased a new position in shares of Unity Software during the 4th quarter worth about $37,000. Dimensional Fund Advisors LP boosted its position in shares of Unity Software by 64.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,742,074 shares of the company’s stock worth $71,252,000 after acquiring an additional 680,002 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in Unity Software by 26.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 35,336 shares of the company’s stock valued at $1,445,000 after purchasing an additional 7,484 shares during the period. Finally, Independent Advisor Alliance acquired a new position in Unity Software during the fourth quarter worth approximately $211,000. Institutional investors and hedge funds own 73.46% of the company’s stock.

Unity Software Stock Up 2.0 %

U stock opened at $20.30 on Tuesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.36 and a quick ratio of 2.36. The firm has a fifty day moving average price of $16.53 and a two-hundred day moving average price of $20.20. Unity Software Inc. has a 1-year low of $13.90 and a 1-year high of $43.54. The firm has a market cap of $8.06 billion, a price-to-earnings ratio of -9.06 and a beta of 2.25.

Unity Software (NYSE:U) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.12. The business had revenue of $449.30 million during the quarter, compared to analyst estimates of $438.37 million. Unity Software had a negative net margin of 38.52% and a negative return on equity of 8.78%. The company’s quarterly revenue was down 15.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.26) earnings per share. Research analysts predict that Unity Software Inc. will post -1.86 EPS for the current year.

Insider Buying and Selling

In other news, Director David Helgason sold 250,000 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $20.59, for a total transaction of $5,147,500.00. Following the transaction, the director now directly owns 8,201,851 shares of the company’s stock, valued at $168,876,112.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director David Helgason sold 250,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 8,201,851 shares in the company, valued at $168,876,112.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Felix The sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $17.89, for a total value of $536,700.00. Following the completion of the sale, the senior vice president now owns 423,679 shares of the company’s stock, valued at $7,579,617.31. The disclosure for this sale can be found here. Insiders sold 284,672 shares of company stock valued at $5,762,015 in the last three months. 6.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on U. Needham & Company LLC lowered their price objective on shares of Unity Software from $31.00 to $23.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Wedbush boosted their price target on Unity Software from $21.00 to $27.00 and gave the company an “outperform” rating in a research report on Monday. Macquarie cut their price objective on Unity Software from $14.00 to $12.00 and set an “underperform” rating on the stock in a report on Friday, August 9th. Piper Sandler reiterated a “neutral” rating and set a $17.00 target price (down previously from $25.00) on shares of Unity Software in a report on Friday, August 9th. Finally, The Goldman Sachs Group cut their price target on shares of Unity Software from $26.00 to $22.50 and set a “neutral” rating on the stock in a report on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $27.25.

About Unity Software

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.