Raymond James & Associates Grows Stock Holdings in Unity Software Inc. (NYSE:U)

Raymond James & Associates lifted its stake in shares of Unity Software Inc. (NYSE:U – Get Rating) by 7.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 110,673 shares of the company’s stock after acquiring an additional 7,607 shares during the quarter. Raymond James & Associates’ holdings in Unity Software were worth $3,526,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Ronald Blue Trust Inc. increased its position in Unity Software by 85.2% during the 3rd quarter. Ronald Blue Trust Inc. now owns 985 shares of the company’s stock valued at $36,000 after purchasing an additional 453 shares during the period. SeaCrest Wealth Management LLC bought a new stake in Unity Software during the 2nd quarter valued at $49,000. Seaport Global Advisors LLC purchased a new position in shares of Unity Software in the 2nd quarter valued at $81,000. Geneos Wealth Management Inc. raised its position in shares of Unity Software by 74.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 977 shares of the company’s stock worth $96,000 after acquiring an additional 417 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. lifted its stake in shares of Unity Software by 12.2% during the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 3,067 shares of the company’s stock worth $113,000 after purchasing an additional 333 shares during the last quarter. Hedge funds and other institutional investors own 82.50% of the company’s stock.

Wall Street Analysts Forecast Growth

U has been the subject of a number of recent analyst reports. Piper Sandler lowered their price objective on Unity Software from $38.00 to $33.00 and set an “overweight” rating for the company in a research report on Thursday, November 10th. DA Davidson cut their price objective on shares of Unity Software from $60.00 to $40.00 in a research note on Thursday, November 10th. BTIG Research cut Unity Software from a “buy” rating to a “neutral” rating in a report on Thursday, December 8th. Morgan Stanley started coverage on shares of Unity Software in a report on Monday, November 28th. They set an “equal weight” rating and a $27.50 target price for the company. Finally, Barclays cut their price target on Unity Software from $33.00 to $22.00 in a research note on Thursday, November 10th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Unity Software has a consensus rating of “Hold” and a consensus price target of $39.38.

Insiders Place Their Bets

In related news, CMO Carol W. Carpenter sold 797 shares of Unity Software stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $32.03, for a total value of $25,527.91. Following the completion of the sale, the chief marketing officer now owns 432,976 shares in the company, valued at approximately $13,868,221.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Unity Software news, CEO John S. Riccitiello sold 11,671 shares of the business’s stock in a transaction dated Monday, November 28th. The shares were sold at an average price of $35.69, for a total transaction of $416,537.99. Following the sale, the chief executive officer now directly owns 3,156,998 shares in the company, valued at $112,673,258.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Carol W. Carpenter sold 797 shares of the stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $32.03, for a total transaction of $25,527.91. Following the sale, the chief marketing officer now directly owns 432,976 shares in the company, valued at approximately $13,868,221.28. The disclosure for this sale can be found here. Insiders sold a total of 68,330 shares of company stock valued at $2,431,296 over the last 90 days. 6.90% of the stock is owned by company insiders.

Unity Software Stock Down 5.8 %

U stock opened at $28.90 on Friday. Unity Software Inc. has a one year low of $21.22 and a one year high of $119.74. The firm has a market cap of $8.69 billion, a PE ratio of -10.74 and a beta of 2.05. The firm’s 50 day moving average price is $31.91 and its 200-day moving average price is $35.65. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.41 and a current ratio of 3.41.

Unity Software (NYSE:U – Get Rating) last announced its quarterly earnings results on Wednesday, November 9th. The company reported ($0.67) EPS for the quarter, missing the consensus estimate of ($0.50) by ($0.17). The business had revenue of $322.88 million during the quarter, compared to analyst estimates of $323.33 million. Unity Software had a negative net margin of 63.17% and a negative return on equity of 26.00%. On average, equities research analysts anticipate that Unity Software Inc. will post -1.69 EPS for the current year.

About Unity Software

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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.