Edgestream Partners L.P. Invests $227,000 in Unity Software Inc. (NYSE:U)

Edgestream Partners L.P. purchased a new position in Unity Software Inc. (NYSE:U) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 13,944 shares of the company’s stock, valued at approximately $227,000.

A number of other institutional investors also recently bought and sold shares of the company. Tradewinds Capital Management LLC boosted its stake in Unity Software by 245.6% during the first quarter. Tradewinds Capital Management LLC now owns 985 shares of the company’s stock valued at $26,000 after buying an additional 700 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Unity Software by 2,429.3% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,037 shares of the company’s stock valued at $28,000 after acquiring an additional 996 shares during the period. Principal Securities Inc. purchased a new position in Unity Software during the 4th quarter worth $37,000. Blue Trust Inc. grew its stake in Unity Software by 308.8% during the 2nd quarter. Blue Trust Inc. now owns 3,123 shares of the company’s stock worth $51,000 after buying an additional 2,359 shares during the last quarter. 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 worth $62,000 after buying an additional 562 shares during the last quarter. Institutional investors own 73.46% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on U shares. The Goldman Sachs Group lowered their price target on Unity Software from $26.00 to $22.50 and set a “neutral” rating for the company in a research report on Friday, August 9th. Piper Sandler reissued a “neutral” rating and issued a $17.00 price objective (down previously from $25.00) on shares of Unity Software in a report on Friday, August 9th. JMP Securities reissued a “market perform” rating on shares of Unity Software in a report on Friday, September 13th. Stifel Nicolaus lifted their price target on Unity Software from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, September 13th. Finally, Morgan Stanley upgraded Unity Software from an “equal weight” rating to an “overweight” rating and set a $22.00 price target for the company in a research note on Tuesday, September 3rd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $27.46.

Insider Buying and Selling

In related news, SVP Felix The sold 30,000 shares of Unity Software stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $17.89, for a total value of $536,700.00. Following the transaction, the senior vice president now owns 423,679 shares in the company, valued at approximately $7,579,617.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Unity Software news, Director David Helgason sold 250,000 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $20.59, for a total value of $5,147,500.00. Following the completion of the transaction, the director now directly owns 8,201,851 shares of the company’s stock, valued at $168,876,112.09. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 sale, the senior vice president now directly owns 423,679 shares of the company’s stock, valued at $7,579,617.31. The disclosure for this sale can be found here. In the last 90 days, insiders sold 283,906 shares of company stock valued at $5,753,611. Company insiders own 6.30% of the company’s stock.

Unity Software Stock Performance

NYSE:U opened at $21.38 on Tuesday. Unity Software Inc. has a twelve month low of $13.90 and a twelve month high of $43.54. 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 firm has a market capitalization of $8.36 billion, a price-to-earnings ratio of -9.54 and a beta of 2.25. The firm’s fifty day simple moving average is $16.87 and its 200 day simple moving average is $20.00.

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