Rakuten Securities Inc. Invests $234,000 in Unity Software Inc. (NYSE:U)

Rakuten Securities Inc. acquired a new position in Unity Software Inc. (NYSE:U) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,720 shares of the company’s stock, valued at approximately $234,000.

Several other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of Unity Software by 8.3% in the 3rd quarter. Vanguard Group Inc. now owns 25,819,797 shares of the company’s stock worth $810,483,000 after purchasing an additional 1,972,435 shares during the period. ARK Investment Management LLC raised its stake in Unity Software by 6.2% during the 4th quarter. ARK Investment Management LLC now owns 12,189,778 shares of the company’s stock worth $498,440,000 after acquiring an additional 712,579 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Unity Software by 14.7% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,131,625 shares of the company’s stock worth $373,392,000 after acquiring an additional 1,170,058 shares during the period. Norges Bank bought a new stake in Unity Software during the 4th quarter worth approximately $157,766,000. Finally, Clearbridge Investments LLC raised its stake in Unity Software by 2,365.2% during the 1st quarter. Clearbridge Investments LLC now owns 4,420,370 shares of the company’s stock worth $438,545,000 after acquiring an additional 4,241,060 shares during the period. Institutional investors own 73.46% of the company’s stock.

Insider Buying and Selling

In other news, SVP Anirma Gupta sold 756 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $33.07, for a total transaction of $25,000.92. Following the sale, the senior vice president now owns 396,985 shares of the company’s stock, valued at approximately $13,128,293.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO James M. Whitehurst sold 44,091 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $32.56, for a total transaction of $1,435,602.96. Following the sale, the chief executive officer now owns 155,909 shares of the company’s stock, valued at approximately $5,076,397.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Anirma Gupta sold 756 shares of the stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $33.07, for a total value of $25,000.92. Following the transaction, the senior vice president now owns 396,985 shares in the company, valued at approximately $13,128,293.95. The disclosure for this sale can be found here. In the last quarter, insiders have sold 341,723 shares of company stock worth $9,577,516. 9.00% of the stock is owned by company insiders.

Analyst Ratings Changes

U has been the topic of a number of recent analyst reports. Piper Sandler upgraded shares of Unity Software from an “underweight” rating to a “neutral” rating and decreased their target price for the stock from $35.00 to $30.00 in a research note on Tuesday, February 27th. The Goldman Sachs Group boosted their target price on shares of Unity Software from $29.00 to $32.00 and gave the company a “neutral” rating in a research note on Tuesday, January 9th. Wedbush lowered their target price on shares of Unity Software from $50.00 to $33.50 and set an “outperform” rating for the company in a research note on Tuesday, February 27th. Stifel Nicolaus lifted their price objective on Unity Software from $32.00 to $35.00 and gave the company a “buy” rating in a report on Friday, March 1st. Finally, Needham & Company LLC decreased their price objective on Unity Software from $40.00 to $31.00 and set a “buy” rating for the company in a report on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $37.03.

Unity Software Stock Down 2.0 %

Shares of U stock traded down $0.49 during trading hours on Wednesday, reaching $23.94. 6,504,893 shares of the company’s stock were exchanged, compared to its average volume of 6,312,530. Unity Software Inc. has a 1 year low of $22.20 and a 1 year high of $50.08. The stock has a market cap of $9.24 billion, a PE ratio of -11.08 and a beta of 2.42. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 0.85. The stock’s fifty day moving average price is $28.48 and its two-hundred day moving average price is $30.78.

Unity Software (NYSE:U) last issued its quarterly earnings results on Monday, February 26th. The company reported ($0.66) earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.89). Unity Software had a negative return on equity of 10.14% and a negative net margin of 37.64%. The business had revenue of $609.27 million during the quarter, compared to analyst estimates of $551.01 million. During the same quarter last year, the company posted ($0.50) EPS. Unity Software’s quarterly revenue was up 35.1% compared to the same quarter last year. Research analysts predict that Unity Software Inc. will post -0.63 EPS for the current year.

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.