Magnetar Financial LLC Invests $2.54 Million in Unity Software Inc. (NYSE:U)

Magnetar Financial LLC acquired a new stake in shares of Unity Software Inc. (NYSE:U) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 155,874 shares of the company’s stock, valued at approximately $2,535,000.

A number of other large investors also recently bought and sold shares of U. Vanguard Group Inc. lifted its position in Unity Software by 0.8% during the 1st 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 in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Unity Software by 30.4% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,909,509 shares of the company’s stock worth $317,984,000 after acquiring an additional 2,777,884 shares during the last quarter. Nikko Asset Management Americas Inc. raised its position in shares of Unity Software by 32.6% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 11,326,547 shares of the company’s stock worth $302,419,000 after purchasing an additional 2,787,058 shares during the period. Capital Research Global Investors lifted its holdings in shares of Unity Software by 18.7% in the 1st quarter. Capital Research Global Investors now owns 8,524,448 shares of the company’s stock worth $227,603,000 after purchasing an additional 1,342,787 shares during the last quarter. Finally, Capital International Investors grew its stake in Unity Software by 426.1% during the 1st quarter. Capital International Investors now owns 7,872,413 shares of the company’s stock worth $210,193,000 after buying an additional 6,376,034 shares during the last quarter. Hedge funds and other institutional investors own 73.46% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on U. Stifel Nicolaus raised their target price on Unity Software from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, September 13th. Macquarie boosted their target price on shares of Unity Software from $12.00 to $15.00 and gave the company an “underperform” rating in a research note on Tuesday, September 17th. Morgan Stanley upgraded shares of Unity Software from an “equal weight” rating to an “overweight” rating and set a $22.00 price target on the stock in a research note on Tuesday, September 3rd. Piper Sandler reiterated a “neutral” rating and set a $17.00 price objective (down from $25.00) on shares of Unity Software in a research report on Friday, August 9th. Finally, Benchmark lowered their target price on Unity Software from $16.00 to $10.00 and set a “sell” rating on the stock in a research report on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $27.46.

Insider Buying and Selling

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

Unity Software Price Performance

NYSE U opened at $21.38 on Tuesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.36 and a quick ratio of 2.36. 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 company has a 50 day simple moving average of $16.87 and a 200-day simple moving average of $20.00. Unity Software Inc. has a 52-week low of $13.90 and a 52-week high of $43.54.

Unity Software (NYSE:U) last released its quarterly earnings data 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. 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 during the quarter, compared to analysts’ expectations of $438.37 million. During the same quarter last year, the firm earned ($0.26) earnings per share. The business’s revenue for the quarter was down 15.8% on a year-over-year basis. Equities research analysts predict that Unity Software Inc. will post -1.86 earnings per share for the current fiscal year.

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.