Unity Software Inc. (NYSE:U) Stake Boosted by Quest Partners LLC

Quest Partners LLC raised its holdings in shares of Unity Software Inc. (NYSE:U) by 213,614.3% in the 2nd quarter, Holdings Channel reports. The firm owned 29,920 shares of the company’s stock after purchasing an additional 29,906 shares during the quarter. Quest Partners LLC’s holdings in Unity Software were worth $486,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Tradewinds Capital Management LLC boosted its position in Unity Software by 245.6% during the 1st quarter. Tradewinds Capital Management LLC now owns 985 shares of the company’s stock valued at $26,000 after purchasing an additional 700 shares during the period. Benjamin F. Edwards & Company Inc. lifted its stake in Unity Software by 2,429.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,037 shares of the company’s stock valued at $28,000 after buying an additional 996 shares during the last quarter. Principal Securities Inc. acquired a new position in shares of Unity Software during the fourth quarter valued at $37,000. Tidemark LLC bought a new position in shares of Unity Software during the fourth quarter worth about $39,000. Finally, Blue Trust Inc. increased its holdings in shares of Unity Software by 308.8% in the 2nd quarter. Blue Trust Inc. now owns 3,123 shares of the company’s stock worth $51,000 after acquiring an additional 2,359 shares during the period. 73.46% of the stock is owned by institutional investors and hedge funds.

Unity Software Stock Performance

Shares of NYSE U opened at $18.90 on Friday. The stock’s fifty day simple moving average is $16.36 and its 200 day simple moving average is $20.49. The stock has a market capitalization of $7.50 billion, a price-to-earnings ratio of -8.44 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 Inc. has a 52-week low of $13.90 and a 52-week high of $43.54.

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on U shares. Stifel Nicolaus reduced their target price on shares of Unity Software from $25.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, August 9th. The Goldman Sachs Group reduced their price objective on Unity Software from $26.00 to $22.50 and set a “neutral” rating for the company in a research report on Friday, August 9th. Wedbush lowered their target price on Unity Software from $33.50 to $21.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Benchmark reduced their price target on Unity Software from $16.00 to $10.00 and set a “sell” rating for the company in a research report on Friday, August 9th. Finally, Piper Sandler reissued a “neutral” rating and issued a $17.00 price target (down previously from $25.00) on shares of Unity Software in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $26.46.

Insider Activity

In other news, SVP Anirma Gupta sold 1,506 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $16.73, for a total value of $25,195.38. Following the completion of the sale, the senior vice president now owns 409,540 shares in the company, valued at $6,851,604.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 5,472 shares of company stock worth $90,871 over the last 90 days. 6.30% of the stock is owned by company insiders.

Unity Software 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.