abrdn plc Increases Holdings in Unity Software Inc. (NYSE:U)

abrdn plc increased its holdings in shares of Unity Software Inc. (NYSE:U) by 133.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 99,927 shares of the company’s stock after purchasing an additional 57,117 shares during the quarter. abrdn plc’s holdings in Unity Software were worth $4,086,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in U. Huntington National Bank increased its holdings in Unity Software by 665.0% in the 3rd quarter. Huntington National Bank now owns 895 shares of the company’s stock valued at $28,000 after acquiring an additional 778 shares during the last quarter. Pacifica Partners Inc. bought a new stake in shares of Unity Software in the fourth quarter worth about $33,000. Psagot Value Holdings Ltd. Israel purchased a new stake in shares of Unity Software in the third quarter worth about $48,000. Compagnie Lombard Odier SCmA boosted its stake in Unity Software by 48.8% during the third quarter. Compagnie Lombard Odier SCmA now owns 3,050 shares of the company’s stock valued at $96,000 after buying an additional 1,000 shares during the last quarter. Finally, BluePath Capital Management LLC purchased a new position in Unity Software during the 3rd quarter valued at approximately $160,000. Hedge funds and other institutional investors own 73.46% of the company’s stock.

Insider Transactions at Unity Software

In other news, CMO Carol W. Carpenter sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $26.58, for a total transaction of $53,160.00. Following the transaction, the chief marketing officer now directly owns 444,617 shares of the company’s stock, valued at $11,817,919.86. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Unity Software news, CMO Carol W. Carpenter sold 2,000 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $26.58, for a total value of $53,160.00. Following the completion of the sale, the chief marketing officer now directly owns 444,617 shares in the company, valued at approximately $11,817,919.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Felix The sold 5,000 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $27.28, for a total value of $136,400.00. Following the transaction, the senior vice president now owns 293,948 shares in the company, valued at approximately $8,018,901.44. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 340,967 shares of company stock worth $9,552,515. Insiders own 6.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Piper Sandler raised Unity Software from an “underweight” rating to a “neutral” rating and decreased their price objective for the stock from $35.00 to $30.00 in a report on Tuesday, February 27th. Macquarie downgraded shares of Unity Software from a “neutral” rating to an “underperform” rating and set a $20.00 price target on the stock. in a research note on Monday, February 12th. Wedbush dropped their price objective on shares of Unity Software from $50.00 to $33.50 and set an “outperform” rating for the company in a research note on Tuesday, February 27th. Stifel Nicolaus upped their target price on shares of Unity Software from $32.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Finally, The Goldman Sachs Group lifted their price target on Unity Software from $29.00 to $32.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 9th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $37.03.

Unity Software Price Performance

Shares of NYSE U opened at $24.13 on Monday. Unity Software Inc. has a fifty-two week low of $22.20 and a fifty-two week high of $50.08. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 0.85. The business’s 50 day moving average price is $26.81 and its 200-day moving average price is $30.42.

Unity Software (NYSE:U) last released its earnings results on Monday, February 26th. The company reported ($0.66) earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.89). Unity Software had a negative return on equity of 10.14% and a negative net margin of 37.64%. The business had revenue of $609.27 million during the quarter, compared to analysts’ expectations of $551.01 million. During the same quarter in the previous year, the business earned ($0.50) EPS. The business’s revenue for the quarter was up 35.1% on a year-over-year basis. As a group, equities research analysts forecast that Unity Software Inc. will post -0.63 earnings per share for the current year.

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.