Wedmont Private Capital Invests $229,000 in Unity Software Inc. $U

Wedmont Private Capital acquired a new position in shares of Unity Software Inc. (NYSE:U) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 9,459 shares of the company’s stock, valued at approximately $229,000.

A number of other large investors have also recently made changes to their positions in the company. Rhumbline Advisers boosted its position in shares of Unity Software by 0.7% in the 1st quarter. Rhumbline Advisers now owns 316,933 shares of the company’s stock valued at $6,209,000 after purchasing an additional 2,081 shares during the period. Focus Partners Wealth acquired a new stake in shares of Unity Software in the 1st quarter valued at about $260,000. Bayforest Capital Ltd boosted its position in shares of Unity Software by 175.5% in the 1st quarter. Bayforest Capital Ltd now owns 6,045 shares of the company’s stock valued at $118,000 after purchasing an additional 3,851 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Unity Software by 5.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 813,176 shares of the company’s stock valued at $15,930,000 after purchasing an additional 45,481 shares during the period. Finally, Sender Co & Partners Inc. acquired a new stake in shares of Unity Software in the 1st quarter valued at about $2,042,000. 73.46% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director David Helgason sold 1,350,000 shares of the company’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $44.43, for a total value of $59,980,500.00. Following the sale, the director owned 6,139,173 shares in the company, valued at $272,763,456.39. This represents a 18.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Anirma Gupta sold 2,296 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $43.99, for a total value of $101,001.04. Following the sale, the senior vice president owned 628,453 shares in the company, valued at approximately $27,645,647.47. This trade represents a 0.36% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,134,426 shares of company stock worth $89,426,284. 3.61% of the stock is owned by insiders.

Unity Software Stock Performance

U opened at $46.14 on Monday. The stock has a market cap of $19.50 billion, a P/E ratio of -43.53 and a beta of 2.33. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.73 and a quick ratio of 2.73. The stock’s 50 day simple moving average is $37.81 and its 200 day simple moving average is $27.74. Unity Software Inc. has a 1-year low of $15.33 and a 1-year high of $46.94.

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 analysts’ consensus estimates of ($0.25) by ($0.01). The firm had revenue of $440.94 million during the quarter, compared to analyst estimates of $425.18 million. Unity Software had a negative return on equity of 13.59% and a negative net margin of 24.38%.The business’s revenue was down 1.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.32) EPS. As a group, equities analysts anticipate that Unity Software Inc. will post -1.25 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on U. Bank of America began coverage on Unity Software in a research report on Thursday, June 26th. They issued an “underperform” rating and a $15.00 target price for the company. Zacks Research cut Unity Software from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 13th. Morgan Stanley upped their price objective on Unity Software from $25.00 to $40.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th. Wall Street Zen raised Unity Software from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Finally, JMP Securities upped their price objective on Unity Software from $30.00 to $35.00 and gave the company a “market outperform” rating in a research note on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.20.

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.