Plato Investment Management Ltd Invests $393,000 in Unity Software Inc. (NYSE:U)

Plato Investment Management Ltd acquired a new position in shares of Unity Software Inc. (NYSE:U) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 24,144 shares of the company’s stock, valued at approximately $393,000.

Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Unity Software during the fourth quarter worth $379,180,000. Capital International Investors increased its position in Unity Software by 426.1% during the 1st quarter. Capital International Investors now owns 7,872,413 shares of the company’s stock valued at $210,193,000 after buying an additional 6,376,034 shares in the last quarter. Capital Research Global Investors raised its stake in Unity Software by 510.2% in the fourth quarter. Capital Research Global Investors now owns 7,181,661 shares of the company’s stock valued at $293,658,000 after buying an additional 6,004,655 shares during the last quarter. Nikko Asset Management Americas Inc. boosted its holdings in Unity Software by 32.6% in the first quarter. Nikko Asset Management Americas Inc. now owns 11,326,547 shares of the company’s stock worth $302,419,000 after acquiring an additional 2,787,058 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Unity Software by 30.4% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,909,509 shares of the company’s stock worth $317,984,000 after acquiring an additional 2,777,884 shares during the last quarter. 73.46% of the stock is currently owned by institutional investors and hedge funds.

Unity Software Stock Up 2.0 %

Shares of U stock opened at $20.30 on Tuesday. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 0.70. Unity Software Inc. has a twelve month low of $13.90 and a twelve month high of $43.54. The stock has a 50 day moving average of $16.53 and a 200 day moving average of $20.20. The stock has a market cap of $8.06 billion, a P/E ratio of -9.06 and a beta of 2.25.

Unity Software (NYSE:U) last posted its earnings results on Thursday, August 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.12. The firm had revenue of $449.30 million during the quarter, compared to analysts’ expectations of $438.37 million. Unity Software had a negative net margin of 38.52% and a negative return on equity of 8.78%. The business’s revenue was down 15.8% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.26) EPS. As a group, sell-side analysts expect that Unity Software Inc. will post -1.86 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Wedbush increased their price objective on shares of Unity Software from $21.00 to $27.00 and gave the company an “outperform” rating in a research report on Monday. 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. Morgan Stanley raised Unity Software from an “equal weight” rating to an “overweight” rating and set a $22.00 target price on the stock in a research report on Tuesday, September 3rd. Stifel Nicolaus lifted their price target on Unity Software from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday. Finally, JMP Securities reiterated a “market perform” rating on shares of Unity Software in a research note on Friday. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Unity Software currently has a consensus rating of “Hold” and a consensus price target of $27.25.

Insider Activity

In other news, Director David Helgason sold 250,000 shares of the stock in a transaction that occurred 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 owns 8,201,851 shares in the company, valued at approximately $168,876,112.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, SVP Felix The sold 30,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $17.89, for a total transaction of $536,700.00. Following the transaction, the senior vice president now owns 423,679 shares in the company, valued at approximately $7,579,617.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director David Helgason sold 250,000 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $20.59, for a total value of $5,147,500.00. Following the transaction, the director now owns 8,201,851 shares in the company, valued at approximately $168,876,112.09. The disclosure for this sale can be found here. Insiders have sold 284,672 shares of company stock worth $5,762,015 in the last ninety days. Company insiders own 6.30% of the company’s stock.

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.