Scientech Research LLC Purchases 66,911 Shares of Unity Software Inc. (NYSE:U)

Scientech Research LLC lifted its position in Unity Software Inc. (NYSE:U) by 615.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 77,785 shares of the company’s stock after acquiring an additional 66,911 shares during the quarter. Scientech Research LLC’s holdings in Unity Software were worth $1,265,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Capital International Investors lifted its position in shares of Unity Software by 426.1% during the first quarter. Capital International Investors now owns 7,872,413 shares of the company’s stock worth $210,193,000 after purchasing an additional 6,376,034 shares during the last quarter. Capital Research Global Investors raised its holdings in shares of 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 acquiring an additional 6,004,655 shares in the last quarter. Nikko Asset Management Americas Inc. lifted its stake 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 during the period. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Unity Software by 30.4% during the 1st 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 in the last quarter. Finally, Contour Asset Management LLC increased its position in Unity Software by 77.8% during the 4th quarter. Contour Asset Management LLC now owns 4,091,289 shares of the company’s stock valued at $167,293,000 after purchasing an additional 1,790,326 shares during the period. 73.46% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Unity Software news, Director David Helgason sold 250,000 shares of Unity Software stock in a transaction dated 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 completion of the transaction, the director now owns 8,201,851 shares in the company, valued at approximately $168,876,112.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director David Helgason sold 250,000 shares of the business’s 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 transaction, the director now directly owns 8,201,851 shares in the company, valued at approximately $168,876,112.09. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Felix The sold 30,000 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $17.89, for a total transaction of $536,700.00. Following the sale, the senior vice president now directly owns 423,679 shares in the company, valued at $7,579,617.31. The disclosure for this sale can be found here. In the last ninety days, insiders sold 283,906 shares of company stock valued at $5,753,611. 6.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Wedbush upped 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. Macquarie upped their target price on Unity Software from $12.00 to $15.00 and gave the stock an “underperform” rating in a report on Tuesday, September 17th. Morgan Stanley upgraded Unity Software from an “equal weight” rating to an “overweight” rating and set a $22.00 price target on the stock in a report on Tuesday, September 3rd. Piper Sandler restated a “neutral” rating and set a $17.00 price objective (down from $25.00) on shares of Unity Software in a research note on Friday, August 9th. Finally, Benchmark cut their target price on Unity Software from $16.00 to $10.00 and set a “sell” rating on the stock in a research note on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Unity Software presently has a consensus rating of “Hold” and an average price target of $25.27.

Unity Software Trading Up 1.1 %

NYSE U opened at $22.59 on Friday. The company has a fifty day simple moving average of $17.40 and a two-hundred day simple moving average of $19.93. Unity Software Inc. has a 12-month low of $13.90 and a 12-month high of $43.54. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 0.70. The stock has a market cap of $8.83 billion, a P/E ratio of -10.08 and a beta of 2.25.

Unity Software (NYSE:U) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping 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 return on equity of 8.78% and a negative net margin of 38.52%. The company’s revenue for the quarter was down 15.8% compared to the same quarter last year. During the same period last year, the business posted ($0.26) earnings per share. On average, analysts forecast that Unity Software Inc. will post -1.86 earnings per share for the current 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.