Unity Software Inc. (NYSE:U) Shares Bought by Wedbush Securities Inc.

Wedbush Securities Inc. lifted its holdings in Unity Software Inc. (NYSE:U) by 203.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,966 shares of the company’s stock after purchasing an additional 22,116 shares during the quarter. Wedbush Securities Inc.’s holdings in Unity Software were worth $536,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Principal Securities Inc. purchased a new stake in Unity Software during the 4th quarter worth approximately $37,000. Tidemark LLC acquired a new position in shares of Unity Software in the 4th quarter valued at $39,000. Tradewinds Capital Management LLC raised its stake in Unity Software by 245.6% in the 1st quarter. Tradewinds Capital Management LLC now owns 985 shares of the company’s stock worth $26,000 after acquiring an additional 700 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in Unity Software by 2,429.3% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,037 shares of the company’s stock worth $28,000 after acquiring an additional 996 shares during the period. Finally, Advisors Asset Management Inc. grew its stake in Unity Software by 31.6% during the 1st quarter. Advisors Asset Management Inc. now owns 2,338 shares of the company’s stock valued at $62,000 after purchasing an additional 562 shares during the last quarter. 73.46% of the stock is currently owned by hedge funds and other institutional investors.

Unity Software Trading Up 9.8 %

U stock opened at $18.90 on Friday. Unity Software Inc. has a 12-month low of $13.90 and a 12-month high of $43.54. The business’s 50-day moving average is $16.36 and its 200 day moving average is $20.49. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 0.70. The stock has a market cap of $7.50 billion, a price-to-earnings ratio of -8.44 and a beta of 2.25.

Unity Software (NYSE:U) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.12. Unity Software had a negative return on equity of 8.78% and a negative net margin of 38.52%. The firm had revenue of $449.30 million for the quarter, compared to analyst estimates of $438.37 million. During the same period in the previous year, the company posted ($0.26) earnings per share. The business’s revenue was down 15.8% on a year-over-year basis. On average, sell-side analysts anticipate that Unity Software Inc. will post -1.86 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Benchmark reduced their price objective on Unity Software from $16.00 to $10.00 and set a “sell” rating for the company in a research note on Friday, August 9th. Macquarie decreased their price objective on shares of Unity Software from $14.00 to $12.00 and set an “underperform” rating for the company in a research note on Friday, August 9th. Needham & Company LLC dropped their price objective on shares of Unity Software from $31.00 to $23.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Stifel Nicolaus reduced their target price on shares of Unity Software from $25.00 to $20.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $17.00 price target (down from $25.00) on shares of Unity Software in a report on Friday, August 9th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $26.46.

Insiders Place Their Bets

In related news, SVP Anirma Gupta sold 1,506 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $16.73, for a total transaction of $25,195.38. Following the completion of the sale, the senior vice president now owns 409,540 shares of the company’s stock, valued at approximately $6,851,604.20. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 5,472 shares of company stock valued at $90,871 in the last 90 days. 6.30% of the stock is owned by insiders.

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.