Rhumbline Advisers Increases Stock Position in Unity Software Inc. (NYSE:U)

Rhumbline Advisers grew its stake in shares of Unity Software Inc. (NYSE:U) by 2.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 278,283 shares of the company’s stock after buying an additional 5,665 shares during the period. Rhumbline Advisers owned 0.09% of Unity Software worth $9,028,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. EPIQ Capital Group LLC purchased a new stake in Unity Software during the 1st quarter worth $214,000. Commonwealth Equity Services LLC boosted its position in Unity Software by 6.2% during the 1st quarter. Commonwealth Equity Services LLC now owns 89,317 shares of the company’s stock worth $2,897,000 after purchasing an additional 5,228 shares during the period. Guggenheim Capital LLC purchased a new stake in Unity Software during the 1st quarter worth $201,000. Bank Julius Baer & Co. Ltd Zurich boosted its position in Unity Software by 5.7% during the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 15,861 shares of the company’s stock worth $515,000 after purchasing an additional 851 shares during the period. Finally, Zions Bancorporation N.A. boosted its position in Unity Software by 9.6% during the 1st quarter. Zions Bancorporation N.A. now owns 8,483 shares of the company’s stock worth $275,000 after purchasing an additional 741 shares during the period. 64.74% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Unity Software

In other Unity Software news, CMO Carol W. Carpenter sold 2,000 shares of the stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $43.50, for a total value of $87,000.00. Following the completion of the sale, the chief marketing officer now owns 387,928 shares in the company, valued at approximately $16,874,868. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Unity Software news, insider Mark Barrysmith sold 8,620 shares of the stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $36.27, for a total value of $312,647.40. Following the completion of the sale, the insider now owns 97,743 shares in the company, valued at approximately $3,545,138.61. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CMO Carol W. Carpenter sold 2,000 shares of the stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $43.50, for a total transaction of $87,000.00. Following the completion of the sale, the chief marketing officer now owns 387,928 shares of the company’s stock, valued at approximately $16,874,868. The disclosure for this sale can be found here. In the last 90 days, insiders sold 576,473 shares of company stock worth $23,736,070. 9.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Wells Fargo & Company boosted their price objective on shares of Unity Software from $48.00 to $54.00 and gave the stock an “overweight” rating in a report on Thursday, August 3rd. DA Davidson upped their target price on shares of Unity Software from $45.00 to $50.00 in a research note on Wednesday, June 28th. Needham & Company LLC upped their target price on shares of Unity Software from $44.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, August 3rd. Stifel Nicolaus upped their target price on shares of Unity Software from $40.00 to $50.00 in a research note on Thursday, August 3rd. Finally, Morgan Stanley upped their target price on shares of Unity Software from $28.00 to $40.00 and gave the company an “equal weight” rating in a research note on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $42.69.

Unity Software Stock Up 0.1 %

U stock opened at $37.09 on Monday. Unity Software Inc. has a 12 month low of $21.22 and a 12 month high of $50.08. The firm has a 50 day simple moving average of $40.43 and a 200 day simple moving average of $34.37. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.46 and a quick ratio of 2.46.

Unity Software (NYSE:U) last released its earnings results on Wednesday, August 2nd. The company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.04. The business had revenue of $533.48 million during the quarter, compared to analyst estimates of $514.80 million. Unity Software had a negative net margin of 54.46% and a negative return on equity of 19.44%. On average, research analysts anticipate that Unity Software Inc. will post -0.88 EPS for the current year.

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.