VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Unity Software Inc. (NYSE:U – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 21,000 shares of the company’s stock, valued at approximately $600,000.
Several other large investors have also modified their holdings of the business. Renaissance Technologies LLC purchased a new position in shares of Unity Software during the 1st quarter worth approximately $54,534,000. Entropy Technologies LP purchased a new stake in Unity Software in the 1st quarter valued at approximately $1,985,000. Nano Cap New Millennium Growth Fund L P purchased a new stake in Unity Software in the 4th quarter valued at approximately $3,710,000. GSA Capital Partners LLP acquired a new stake in Unity Software during the 2nd quarter valued at $1,370,000. Finally, Avala Global LP acquired a new stake in Unity Software during the 2nd quarter valued at $62,522,000. 73.46% of the stock is currently owned by institutional investors and hedge funds.
Unity Software Stock Down 1.2%
U stock opened at $43.44 on Tuesday. The company has a 50 day moving average price of $38.20 and a two-hundred day moving average price of $29.48. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.03 and a current ratio of 2.03. The stock has a market capitalization of $19.12 billion, a P/E ratio of -31.94, a PEG ratio of 1.93 and a beta of 2.06. Unity Software Inc. has a one year low of $16.78 and a one year high of $52.15.
Insiders Place Their Bets
In other Unity Software news, CEO Matthew S. Bromberg sold 16,383 shares of Unity Software stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $45.31, for a total value of $742,313.73. Following the completion of the sale, the chief executive officer owned 1,541,131 shares in the company, valued at $69,828,645.61. The trade was a 1.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Rebecca Boyden sold 1,032 shares of Unity Software stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $45.32, for a total value of $46,770.24. Following the completion of the sale, the senior vice president owned 308,413 shares of the company’s stock, valued at $13,977,277.16. This trade represents a 0.33% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 109,547 shares of company stock valued at $4,884,202. 0.77% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
U has been the subject of a number of analyst reports. Raymond James Financial began coverage on Unity Software in a report on Monday, June 29th. They issued a “market perform” rating for the company. Wall Street Zen lowered Unity Software from a “buy” rating to a “hold” rating in a research note on Saturday. BTIG Research lifted their price objective on Unity Software from $43.00 to $51.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Zacks Research raised shares of Unity Software from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 13th. Finally, Bank of America upgraded shares of Unity Software from a “neutral” rating to a “buy” rating and upped their target price for the company from $30.00 to $50.00 in a report on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $45.16.
Read Our Latest Research Report on Unity Software
Unity Software Company Profile
Unity Software Inc develops software and services for creating, operating and monetizing interactive, real-time 2D and 3D content. Its platform is widely used to build video games for mobile devices, personal computers, consoles and the web, as well as applications for industries such as automotive, architecture, engineering, construction, manufacturing and media.
The company’s core offerings include the Unity Engine and related development tools, which support graphics, physics, animation, audio, scripting and deployment across multiple platforms.
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