PNC Financial Services Group Inc. Has $175,000 Stock Position in Unity Software Inc. $U

PNC Financial Services Group Inc. increased its stake in Unity Software Inc. (NYSE:U) by 19.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,936 shares of the company’s stock after buying an additional 1,439 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Unity Software were worth $175,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in U. Janney Montgomery Scott LLC lifted its holdings in Unity Software by 116.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 29,085 shares of the company’s stock valued at $570,000 after purchasing an additional 15,633 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new stake in shares of Unity Software during the 1st quarter worth about $433,000. GAMMA Investing LLC boosted its holdings in shares of Unity Software by 72.5% during the 1st quarter. GAMMA Investing LLC now owns 2,822 shares of the company’s stock worth $55,000 after buying an additional 1,186 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new position in Unity Software in the 1st quarter valued at about $2,215,000. Finally, Amalgamated Bank grew its stake in Unity Software by 3.0% in the 1st quarter. Amalgamated Bank now owns 18,132 shares of the company’s stock valued at $355,000 after buying an additional 525 shares during the last quarter. 73.46% of the stock is owned by institutional investors.

Unity Software Price Performance

Unity Software stock opened at $38.35 on Tuesday. The business has a fifty day moving average price of $29.90 and a 200-day moving average price of $24.64. The firm has a market capitalization of $16.20 billion, a P/E ratio of -36.18 and a beta of 2.32. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.73 and a quick ratio of 2.73. Unity Software Inc. has a one year low of $15.33 and a one year high of $39.72.

Unity Software (NYSE:U) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.01). The firm had revenue of $440.94 million during the quarter, compared to the consensus estimate of $425.18 million. Unity Software had a negative return on equity of 13.59% and a negative net margin of 24.38%. The company’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.32) EPS. As a group, equities research analysts forecast that Unity Software Inc. will post -1.25 EPS for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on U shares. Morgan Stanley boosted their price objective on shares of Unity Software from $25.00 to $40.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. Barclays increased their target price on shares of Unity Software from $25.00 to $30.00 and gave the stock an “equal weight” rating in a report on Thursday, August 7th. Citigroup raised their price objective on Unity Software from $29.00 to $44.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. Wells Fargo & Company lifted their target price on Unity Software from $24.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, August 7th. Finally, Wall Street Zen raised shares of Unity Software from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $31.20.

Insider Activity

In related news, Director Tomer Bar-Zeev sold 50,000 shares of the stock in a transaction on Monday, August 4th. The shares were sold at an average price of $33.18, for a total transaction of $1,659,000.00. Following the transaction, the director owned 2,148,146 shares of the company’s stock, valued at approximately $71,275,484.28. This trade represents a 2.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Alexander Blum sold 2,582 shares of the business’s stock in a transaction on Monday, August 11th. The stock was sold at an average price of $32.99, for a total transaction of $85,180.18. Following the completion of the sale, the chief operating officer directly owned 716,926 shares of the company’s stock, valued at $23,651,388.74. This represents a 0.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,214,694 shares of company stock valued at $31,384,519. 3.61% of the stock is owned by 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.