First Trust Direct Indexing L.P. Makes New Investment in Unity Software Inc. (NYSE:U)

First Trust Direct Indexing L.P. purchased a new stake in shares of Unity Software Inc. (NYSE:U) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,716 shares of the company’s stock, valued at approximately $242,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Unity Software by 6.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 289,686 shares of the company’s stock valued at $7,988,000 after buying an additional 18,160 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its stake in Unity Software by 295.3% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 12,398 shares of the company’s stock valued at $331,000 after acquiring an additional 9,262 shares in the last quarter. Empowered Funds LLC acquired a new position in Unity Software during the 1st quarter worth $331,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Unity Software in the first quarter worth $3,878,000. Finally, Atomi Financial Group Inc. increased its holdings in shares of Unity Software by 14.7% during the first quarter. Atomi Financial Group Inc. now owns 8,972 shares of the company’s stock valued at $240,000 after purchasing an additional 1,147 shares during the period. Institutional investors and hedge funds own 73.46% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Felix The sold 30,000 shares of the company’s stock in a transaction 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 directly owns 423,679 shares of the company’s stock, valued at approximately $7,579,617.31. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director David Helgason sold 250,000 shares of the company’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 transaction, the director now directly owns 8,201,851 shares of the company’s stock, valued at approximately $168,876,112.09. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Felix The sold 30,000 shares of Unity Software stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $17.89, for a total value of $536,700.00. Following the sale, the senior vice president now directly owns 423,679 shares of the company’s stock, valued at approximately $7,579,617.31. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 281,600 shares of company stock worth $5,714,000. Corporate insiders own 6.30% of the company’s stock.

Unity Software Trading Up 6.4 %

NYSE:U opened at $21.62 on Wednesday. The stock has a fifty day simple moving average of $20.03 and a 200 day simple moving average of $18.96. The firm has a market capitalization of $8.58 billion, a price-to-earnings ratio of -10.54 and a beta of 2.29. Unity Software Inc. has a 1-year low of $13.90 and a 1-year high of $43.54. 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 announced its 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. Unity Software had a negative net margin of 38.52% and a negative return on equity of 8.78%. The company had revenue of $449.30 million during the quarter, compared to analysts’ expectations of $438.37 million. During the same period last year, the company posted ($0.26) earnings per share. The business’s revenue for the quarter was down 15.8% on a year-over-year basis. Sell-side analysts forecast that Unity Software Inc. will post -1.86 earnings per share for the current year.

Analyst Ratings Changes

U has been the subject of several research analyst reports. Macquarie upped their price objective on shares of Unity Software from $12.00 to $15.00 and gave the stock an “underperform” rating in a report on Tuesday, September 17th. The Goldman Sachs Group lowered their price objective on shares of Unity Software from $26.00 to $22.50 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Stifel Nicolaus upped their target price on Unity Software from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Needham & Company LLC decreased their price target on Unity Software from $31.00 to $23.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Finally, JMP Securities reissued a “market perform” rating on shares of Unity Software in a research note on Friday, September 13th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Unity Software currently has a consensus rating of “Hold” and an average price target of $23.35.

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.