IQ EQ FUND MANAGEMENT IRELAND Ltd Acquires 23,006 Shares of Unity Software Inc. $U

by · The Cerbat Gem

IQ EQ FUND MANAGEMENT IRELAND Ltd raised its position in Unity Software Inc. (NYSE:U – Free Report) by 57.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 62,854 shares of the company’s stock after buying an additional 23,006 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Unity Software were worth $1,521,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC boosted its holdings in shares of Unity Software by 116.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 29,085 shares of the company’s stock worth $570,000 after acquiring an additional 15,633 shares in the last quarter. Oppenheimer & Co. Inc. bought a new position in Unity Software in the 1st quarter valued at $433,000. Forum Financial Management LP acquired a new position in Unity Software in the second quarter worth $256,000. GAMMA Investing LLC grew its holdings in shares of Unity Software by 72.5% during the first quarter. GAMMA Investing LLC now owns 2,822 shares of the company’s stock worth $55,000 after purchasing an additional 1,186 shares during the last quarter. Finally, Amalgamated Bank grew its holdings in shares of Unity Software by 3.0% during the first quarter. Amalgamated Bank now owns 18,132 shares of the company’s stock worth $355,000 after purchasing an additional 525 shares during the last quarter. 73.46% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Tomer Bar-Zeev sold 250,000 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $39.83, for a total value of $9,957,500.00. Following the transaction, the director owned 1,548,146 shares of the company’s stock, valued at approximately $61,662,655.18. This trade represents a 13.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Alexander Blum sold 63,813 shares of the firm’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $39.41, for a total transaction of $2,514,870.33. Following the completion of the transaction, the chief operating officer directly owned 603,811 shares in the company, valued at $23,796,191.51. This trade represents a 9.56% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 2,236,951 shares of company stock worth $95,081,659. 3.61% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on U shares. Arete Research raised Unity Software to a “hold” rating in a report on Thursday, October 16th. Wedbush raised their price objective on shares of Unity Software from $41.00 to $42.00 and gave the company an “outperform” rating in a research report on Monday, October 6th. Morgan Stanley boosted their target price on shares of Unity Software from $40.00 to $44.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. BTIG Research lowered shares of Unity Software from a “neutral” rating to a “sell” rating and set a $25.00 target price on the stock. in a research report on Wednesday, July 23rd. Finally, UBS Group increased their price target on shares of Unity Software from $35.00 to $40.00 and gave the company a “neutral” rating in a research note on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $34.10.

Get Our Latest Stock Analysis on U

Unity Software Stock Down 5.8%

Shares of NYSE U opened at $36.91 on Wednesday. The firm has a market capitalization of $15.60 billion, a PE ratio of -34.82 and a beta of 2.32. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.70. Unity Software Inc. has a 1 year low of $15.33 and a 1 year high of $46.94. The firm’s 50-day moving average is $40.09 and its 200-day moving average is $31.16.

Unity Software (NYSE:U – Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.01). The business had revenue of $440.94 million during the quarter, compared to the consensus estimate of $425.18 million. Unity Software had a negative net margin of 24.38% and a negative return on equity of 13.59%. The firm’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period last year, the business posted ($0.32) EPS. Equities analysts expect that Unity Software Inc. will post -1.25 EPS for the current year.

Unity Software Profile

(Free Report)

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.

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