Oak Thistle LLC Raises Stock Holdings in Unity Software Inc. $U

Oak Thistle LLC increased its stake in Unity Software Inc. (NYSE:U) by 69.7% during the 3rd quarter, Holdings Channel reports. The firm owned 49,739 shares of the company’s stock after purchasing an additional 20,428 shares during the quarter. Oak Thistle LLC’s holdings in Unity Software were worth $1,992,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of U. Jefferies Financial Group Inc. bought a new position in shares of Unity Software in the 2nd quarter worth $205,000. Forum Financial Management LP purchased a new position in Unity Software in the second quarter worth $256,000. Austin Wealth Management LLC purchased a new position in Unity Software in the second quarter worth $208,000. PNC Financial Services Group Inc. increased its stake in Unity Software by 148.2% in the second quarter. PNC Financial Services Group Inc. now owns 22,181 shares of the company’s stock valued at $537,000 after acquiring an additional 13,245 shares during the last quarter. Finally, State of Wyoming purchased a new stake in Unity Software during the second quarter valued at about $721,000. 73.46% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director David Helgason sold 8,347 shares of the business’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $49.16, for a total transaction of $410,338.52. Following the transaction, the director owned 7,635 shares in the company, valued at $375,336.60. The trade was a 52.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Tomer Bar-Zeev sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $47.00, for a total value of $2,350,000.00. Following the transaction, the director directly owned 873,146 shares in the company, valued at $41,037,862. This trade represents a 5.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 1,901,471 shares of company stock worth $85,264,529. 3.61% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Unity Software in a research note on Wednesday, October 8th. Wells Fargo & Company upgraded Unity Software from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $42.00 to $51.00 in a research report on Friday, December 5th. Morgan Stanley upped their target price on Unity Software from $40.00 to $44.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. HSBC cut shares of Unity Software from a “buy” rating to a “hold” rating and increased their price target for the company from $37.50 to $40.80 in a research report on Tuesday, September 30th. Finally, Macquarie raised shares of Unity Software from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $33.00 to $50.00 in a research note on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Unity Software presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.04.

Unity Software Price Performance

Shares of Unity Software stock opened at $44.64 on Wednesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.78 and a quick ratio of 2.78. Unity Software Inc. has a one year low of $15.33 and a one year high of $52.15. The business’s 50 day simple moving average is $40.22 and its two-hundred day simple moving average is $36.28. The stock has a market capitalization of $19.10 billion, a P/E ratio of -42.52 and a beta of 2.04.

Unity Software (NYSE:U) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. Unity Software had a negative return on equity of 9.45% and a negative net margin of 24.15%.The firm had revenue of $470.62 million during the quarter, compared to analyst estimates of $452.87 million. During the same quarter in the prior year, the firm posted ($0.31) earnings per share. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. Analysts forecast that Unity Software Inc. will post -1.25 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.