Magnetar Financial LLC Takes $2.54 Million Position in Unity Software Inc. (NYSE:U)

Magnetar Financial LLC bought a new stake in Unity Software Inc. (NYSE:U) in the second quarter, Holdings Channel reports. The institutional investor bought 155,874 shares of the company’s stock, valued at approximately $2,535,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Royal London Asset Management Ltd. increased its holdings in shares of Unity Software by 0.4% in the fourth quarter. Royal London Asset Management Ltd. now owns 116,167 shares of the company’s stock valued at $4,750,000 after purchasing an additional 440 shares in the last quarter. Advisors Asset Management Inc. raised its position in shares of Unity Software by 31.6% during the 1st quarter. Advisors Asset Management Inc. now owns 2,338 shares of the company’s stock valued at $62,000 after acquiring an additional 562 shares during the last quarter. Bouvel Investment Partners LLC lifted its stake in shares of Unity Software by 2.7% in the 1st quarter. Bouvel Investment Partners LLC now owns 22,783 shares of the company’s stock valued at $608,000 after purchasing an additional 597 shares during the period. Tradewinds Capital Management LLC boosted its position in shares of Unity Software by 245.6% in the 1st quarter. Tradewinds Capital Management LLC now owns 985 shares of the company’s stock worth $26,000 after purchasing an additional 700 shares during the last quarter. Finally, Principal Securities Inc. acquired a new stake in shares of Unity Software during the fourth quarter worth $37,000. 73.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director David Helgason sold 250,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $168,876,112.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Anirma Gupta sold 1,506 shares of Unity Software stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $16.73, for a total transaction of $25,195.38. Following the transaction, the senior vice president now owns 409,540 shares of the company’s stock, valued at $6,851,604.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David Helgason sold 250,000 shares of the stock in a transaction 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 completion of the sale, the director now directly owns 8,201,851 shares of the company’s stock, valued at $168,876,112.09. The disclosure for this sale can be found here. Insiders sold 283,906 shares of company stock valued at $5,753,611 over the last 90 days. Company insiders own 6.30% of the company’s stock.

Unity Software Stock Up 2.7 %

Shares of NYSE:U opened at $21.38 on Tuesday. The business has a fifty day simple moving average of $16.87 and a 200 day simple moving average of $20.00. Unity Software Inc. has a 12-month low of $13.90 and a 12-month high of $43.54. The firm has a market cap of $8.36 billion, a P/E ratio of -9.54 and a beta of 2.25. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 0.70.

Unity Software (NYSE:U) last released 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. Unity Software had a negative net margin of 38.52% and a negative return on equity of 8.78%. The business had revenue of $449.30 million for the quarter, compared to analyst estimates of $438.37 million. During the same quarter in the previous year, the business earned ($0.26) earnings per share. Unity Software’s revenue for the quarter was down 15.8% on a year-over-year basis. Analysts predict that Unity Software Inc. will post -1.86 earnings per share for the current year.

Analysts Set New Price Targets

U has been the topic of several analyst reports. Needham & Company LLC cut their target price on Unity Software from $31.00 to $23.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. JMP Securities reiterated a “market perform” rating on shares of Unity Software in a report on Friday, September 13th. Benchmark lowered their price objective on shares of Unity Software from $16.00 to $10.00 and set a “sell” rating for the company in a research report on Friday, August 9th. Piper Sandler reiterated a “neutral” rating and set a $17.00 price objective (down from $25.00) on shares of Unity Software in a report on Friday, August 9th. Finally, Wedbush boosted their price target on shares of Unity Software from $21.00 to $27.00 and gave the stock an “outperform” rating in a research report on Monday, September 16th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Unity Software currently has an average rating of “Hold” and an average target price of $27.46.

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.