Johnson Investment Counsel Inc. Boosts Stock Position in Unity Software Inc. (NYSE:U)

Johnson Investment Counsel Inc. raised its stake in Unity Software Inc. (NYSE:U) by 23.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,085 shares of the company’s stock after purchasing an additional 4,516 shares during the period. Johnson Investment Counsel Inc.’s holdings in Unity Software were worth $392,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Capital Research Global Investors grew its stake in shares of Unity Software by 510.2% during the fourth quarter. Capital Research Global Investors now owns 7,181,661 shares of the company’s stock worth $293,658,000 after acquiring an additional 6,004,655 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Unity Software by 26.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 35,336 shares of the company’s stock worth $1,445,000 after acquiring an additional 7,484 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Unity Software during the first quarter worth about $3,878,000. Seldon Capital LP purchased a new stake in shares of Unity Software during the fourth quarter worth about $7,576,000. Finally, Vanguard Group Inc. grew its stake in shares of Unity Software by 0.8% during the first quarter. Vanguard Group Inc. now owns 26,336,775 shares of the company’s stock worth $703,192,000 after acquiring an additional 208,566 shares during the last quarter. Hedge funds and other institutional investors own 73.46% of the company’s stock.

Unity Software Trading Up 5.3 %

Shares of NYSE:U opened at $19.91 on Friday. Unity Software Inc. has a 12-month low of $13.90 and a 12-month high of $43.54. The company has a market capitalization of $7.90 billion, a PE ratio of -8.89 and a beta of 2.25. The business has a 50 day moving average of $16.44 and a two-hundred day moving average of $20.33. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 0.70.

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

Insider Transactions at Unity Software

In other news, SVP Anirma Gupta sold 1,506 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $16.73, for a total transaction of $25,195.38. Following the completion of the transaction, the senior vice president now directly 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 is available at this link. In related news, SVP Felix The sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $17.89, for a total transaction of $536,700.00. Following the completion of the sale, the senior vice president now directly owns 423,679 shares in the company, valued at $7,579,617.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Anirma Gupta sold 1,506 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $16.73, for a total value of $25,195.38. Following the sale, the senior vice president now owns 409,540 shares of the company’s stock, valued at $6,851,604.20. The disclosure for this sale can be found here. Insiders sold a total of 285,472 shares of company stock valued at $5,775,071 in the last three months. 6.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group dropped their price target on Unity Software from $26.00 to $22.50 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Wedbush decreased their target price on Unity Software from $33.50 to $21.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Stifel Nicolaus lifted their target price on Unity Software from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Friday. Needham & Company LLC decreased their target price on Unity Software from $31.00 to $23.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Unity Software in a report on Friday. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $26.82.

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.