Thrivent Financial for Lutherans Purchases Shares of 31,731 Unity Software Inc. (NYSE:U)

Thrivent Financial for Lutherans acquired a new stake in Unity Software Inc. (NYSE:U) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 31,731 shares of the company’s stock, valued at approximately $515,000.

Several other large investors also recently modified their holdings of U. Capital International Investors boosted its stake in Unity Software by 426.1% in the 1st quarter. Capital International Investors now owns 7,872,413 shares of the company’s stock valued at $210,193,000 after purchasing an additional 6,376,034 shares during the period. Nikko Asset Management Americas Inc. grew its stake in shares of Unity Software by 32.6% in the first quarter. Nikko Asset Management Americas Inc. now owns 11,326,547 shares of the company’s stock valued at $302,419,000 after acquiring an additional 2,787,058 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in Unity Software by 30.4% during 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 period. Contour Asset Management LLC raised its stake in Unity Software by 77.8% in the 4th quarter. Contour Asset Management LLC now owns 4,091,289 shares of the company’s stock worth $167,293,000 after purchasing an additional 1,790,326 shares in the last quarter. Finally, Capital Research Global Investors boosted its holdings in Unity Software by 18.7% in the 1st quarter. Capital Research Global Investors now owns 8,524,448 shares of the company’s stock valued at $227,603,000 after purchasing an additional 1,342,787 shares during the period. 73.46% of the stock is owned by institutional investors.

Unity Software Stock Performance

Shares of U stock opened at $21.18 on Wednesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.36 and a quick ratio of 2.36. Unity Software Inc. has a one year low of $13.90 and a one year high of $43.54. The business’s 50 day simple moving average is $18.01 and its 200 day simple moving average is $19.63. The stock has a market capitalization of $8.41 billion, a PE ratio of -9.46 and a beta of 2.28.

Unity Software (NYSE:U) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.32) EPS 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 for the quarter, compared to analysts’ expectations of $438.37 million. During the same quarter in the prior year, the firm posted ($0.26) earnings per share. The business’s quarterly revenue was down 15.8% compared to the same quarter last year. As a group, research analysts forecast that Unity Software Inc. will post -1.86 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on U. Needham & Company LLC reduced their target price on Unity Software from $31.00 to $23.00 and set a “buy” rating on the stock 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. Piper Sandler restated a “neutral” rating and issued a $17.00 target price (down from $25.00) on shares of Unity Software in a research report on Friday, August 9th. The Goldman Sachs Group reduced their price target on shares of Unity Software from $26.00 to $22.50 and set a “neutral” rating on the stock in a research report on Friday, August 9th. Finally, Benchmark cut their target price 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. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $24.21.

Insider Activity

In other news, Director David Helgason sold 250,000 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $20.59, for a total transaction of $5,147,500.00. Following the transaction, the director now owns 8,201,851 shares in the company, valued at approximately $168,876,112.09. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Unity Software news, SVP Anirma Gupta sold 1,506 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $16.73, for a total value of $25,195.38. Following the transaction, the senior vice president now directly owns 409,540 shares of the company’s stock, valued at approximately $6,851,604.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David Helgason sold 250,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the director now owns 8,201,851 shares in the company, valued at $168,876,112.09. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 283,906 shares of company stock worth $5,753,611 in the last quarter. 6.30% of the stock is owned by corporate insiders.

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.