Bank of Nova Scotia acquired a new stake in shares of Unity Software Inc. (NYSE:U – Get Rating) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 31,507 shares of the company’s stock, valued at approximately $901,000.
Other institutional investors also recently bought and sold shares of the company. Romano Brothers AND Company purchased a new position in Unity Software during the fourth quarter valued at approximately $25,000. Geneos Wealth Management Inc. raised its holdings in Unity Software by 74.5% during the first quarter. Geneos Wealth Management Inc. now owns 977 shares of the company’s stock valued at $96,000 after acquiring an additional 417 shares during the period. Ellevest Inc. lifted its position in shares of Unity Software by 133.2% in the fourth quarter. Ellevest Inc. now owns 1,005 shares of the company’s stock valued at $29,000 after acquiring an additional 574 shares in the last quarter. JTC Employer Solutions Trustee Ltd bought a new position in shares of Unity Software in the fourth quarter worth about $38,000. Finally, FNY Investment Advisers LLC purchased a new stake in shares of Unity Software during the fourth quarter worth about $37,000. Institutional investors own 82.50% of the company’s stock.
Analyst Ratings Changes
Several research analysts have weighed in on the company. Barclays cut their price objective on shares of Unity Software from $32.00 to $31.00 in a report on Thursday, May 11th. Piper Sandler boosted their price target on shares of Unity Software from $33.00 to $43.00 and gave the stock an “overweight” rating in a research note on Thursday, February 23rd. Citigroup dropped their price objective on shares of Unity Software from $54.00 to $41.00 and set a “buy” rating for the company in a report on Monday, February 27th. Needham & Company LLC reiterated a “buy” rating and issued a $44.00 target price on shares of Unity Software in a research report on Friday, April 14th. Finally, Oppenheimer lowered Unity Software from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 23rd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Unity Software currently has a consensus rating of “Hold” and a consensus target price of $40.06.
Unity Software Trading Down 6.1 %
Unity Software (NYSE:U – Get Rating) last announced its quarterly earnings data on Wednesday, February 22nd. The company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.24). The company had revenue of $450.97 million for the quarter, compared to the consensus estimate of $433.25 million. Unity Software had a negative net margin of 63.42% and a negative return on equity of 23.63%. As a group, analysts predict that Unity Software Inc. will post -1.46 earnings per share for the current year.
Insider Transactions at Unity Software
In other news, SVP Marc Whitten sold 3,889 shares of the stock in a transaction on Monday, February 27th. The stock was sold at an average price of $30.27, for a total transaction of $117,720.03. Following the transaction, the senior vice president now owns 677,682 shares of the company’s stock, valued at approximately $20,513,434.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Marc Whitten sold 3,889 shares of Unity Software stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $30.27, for a total transaction of $117,720.03. Following the transaction, the senior vice president now directly owns 677,682 shares of the company’s stock, valued at $20,513,434.14. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Tomer Bar-Zeev sold 37,500 shares of the company’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $32.13, for a total value of $1,204,875.00. Following the sale, the insider now owns 1,763,959 shares of the company’s stock, valued at approximately $56,676,002.67. The disclosure for this sale can be found here. Over the last three months, insiders have sold 155,328 shares of company stock valued at $4,926,866. 9.00% of the stock is currently owned by company insiders.
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.
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