PGGM Investments Buys Shares of 25,959 Unity Software Inc. (NYSE:U)

PGGM Investments purchased a new position in shares of Unity Software Inc. (NYSE:U) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 25,959 shares of the company’s stock, valued at approximately $693,000.

A number of other institutional investors also recently made changes to their positions in the stock. Norges Bank purchased a new stake in shares of Unity Software in the fourth quarter valued at $379,180,000. 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 worth $210,193,000 after buying an additional 6,376,034 shares during the last quarter. Capital Research Global Investors grew its holdings in Unity Software by 510.2% in the 4th quarter. Capital Research Global Investors now owns 7,181,661 shares of the company’s stock valued at $293,658,000 after buying an additional 6,004,655 shares during the period. Nikko Asset Management Americas Inc. increased its stake 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 valued at $302,419,000 after acquiring an additional 2,787,058 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Unity Software by 30.4% during the 1st 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. 73.46% of the stock is owned by institutional investors and hedge funds.

Unity Software Price Performance

Shares of U opened at $15.32 on Friday. The firm has a market capitalization of $5.99 billion, a price-to-earnings ratio of -6.84 and a beta of 2.25. The stock’s fifty day moving average is $16.75 and its 200-day moving average is $23.78. Unity Software Inc. has a one year low of $14.48 and a one year high of $43.54. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.15 and a current ratio of 2.15.

Unity Software (NYSE:U) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.13. The company had revenue of $460.38 million during the quarter, compared to the consensus estimate of $422.53 million. Unity Software had a negative net margin of 40.11% and a negative return on equity of 7.73%. Equities analysts anticipate that Unity Software Inc. will post -1.81 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on U. Barclays dropped their price target on Unity Software from $28.00 to $27.00 and set an “equal weight” rating for the company in a research note on Friday, May 10th. The Goldman Sachs Group cut their price target on shares of Unity Software from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Monday, May 13th. Stifel Nicolaus decreased their price objective on shares of Unity Software from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, June 10th. Wedbush reissued an “outperform” rating and issued a $33.50 target price on shares of Unity Software in a research note on Monday, July 29th. Finally, Benchmark reaffirmed a “sell” rating and set a $16.00 price target on shares of Unity Software in a research report on Friday, May 10th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $30.04.

Insider Buying and Selling

In other news, insider Marc Whitten sold 86,768 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $20.60, for a total transaction of $1,787,420.80. Following the sale, the insider now owns 2,483 shares in the company, valued at $51,149.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Marc Whitten sold 86,768 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $20.60, for a total transaction of $1,787,420.80. Following the transaction, the insider now directly owns 2,483 shares of the company’s stock, valued at $51,149.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Felix The sold 10,752 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $19.10, for a total transaction of $205,363.20. Following the completion of the transaction, the senior vice president now owns 283,196 shares in the company, valued at approximately $5,409,043.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 245,005 shares of company stock valued at $4,798,048. 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.