Ameriprise Financial Inc. Acquires 1,725,070 Shares of Unity Software Inc. (NYSE:U)

Ameriprise Financial Inc. boosted its position in Unity Software Inc. (NYSE:U) by 3,843.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,769,948 shares of the company’s stock after buying an additional 1,725,070 shares during the period. Ameriprise Financial Inc. owned approximately 0.44% of Unity Software worth $39,771,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Anderson Financial Strategies LLC purchased a new position in shares of Unity Software in the 4th quarter worth approximately $28,000. R Squared Ltd purchased a new position in shares of Unity Software in the 4th quarter worth approximately $30,000. Principal Securities Inc. boosted its stake in shares of Unity Software by 50.5% in the 4th quarter. Principal Securities Inc. now owns 1,422 shares of the company’s stock worth $32,000 after buying an additional 477 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Unity Software by 33.6% in the 4th quarter. GAMMA Investing LLC now owns 1,636 shares of the company’s stock worth $37,000 after buying an additional 411 shares during the last quarter. Finally, Whipplewood Advisors LLC purchased a new position in shares of Unity Software in the 4th quarter worth approximately $40,000. 73.46% of the stock is owned by institutional investors.

Unity Software Stock Down 0.4%

U opened at $20.57 on Monday. The company has a market cap of $8.55 billion, a P/E ratio of -12.24 and a beta of 2.29. The business’s 50-day moving average price is $20.64 and its 200-day moving average price is $22.01. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.70. Unity Software Inc. has a 12 month low of $13.90 and a 12 month high of $30.88.

Unity Software (NYSE:U) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.19. The firm had revenue of $435.00 million for the quarter, compared to the consensus estimate of $415.77 million. Unity Software had a negative return on equity of 13.40% and a negative net margin of 36.63%. The company’s quarterly revenue was down 5.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.28 earnings per share. On average, equities analysts expect that Unity Software Inc. will post -1.25 EPS for the current year.

Insider Transactions at Unity Software

In other Unity Software news, CAO Mark Barrysmith sold 1,395 shares of Unity Software stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $21.68, for a total transaction of $30,243.60. Following the sale, the chief accounting officer now directly owns 450,881 shares of the company’s stock, valued at approximately $9,775,100.08. The trade was a 0.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Tomer Bar-Zeev sold 236,337 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $23.92, for a total value of $5,653,181.04. Following the completion of the sale, the director now directly owns 3,161,809 shares in the company, valued at approximately $75,630,471.28. This represents a 6.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 782,231 shares of company stock worth $18,033,528. 6.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

U has been the topic of several research analyst reports. Stifel Nicolaus dropped their price objective on Unity Software from $35.00 to $28.00 and set a “buy” rating on the stock in a research note on Thursday. Hsbc Global Res upgraded Unity Software to a “strong-buy” rating in a research report on Friday, February 21st. Citigroup upgraded Unity Software from a “neutral” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Tuesday, March 11th. Jefferies Financial Group dropped their target price on Unity Software from $24.00 to $16.00 and set a “hold” rating on the stock in a research report on Monday, April 7th. Finally, Needham & Company LLC dropped their target price on Unity Software from $33.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $24.21.

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.