2,653,172 Shares in Unity Software Inc. $U Purchased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA purchased a new stake in Unity Software Inc. (NYSE:U) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,653,172 shares of the company’s stock, valued at approximately $106,233,000.

A number of other hedge funds have also recently bought and sold shares of the business. Slate Path Capital LP raised its position in shares of Unity Software by 25.4% in the 2nd quarter. Slate Path Capital LP now owns 20,016,952 shares of the company’s stock valued at $484,410,000 after purchasing an additional 4,048,484 shares in the last quarter. Norges Bank acquired a new stake in shares of Unity Software during the second quarter worth approximately $151,221,000. Geode Capital Management LLC increased its stake in shares of Unity Software by 0.7% in the second quarter. Geode Capital Management LLC now owns 5,064,703 shares of the company’s stock worth $122,587,000 after buying an additional 36,105 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of Unity Software by 37.8% in the second quarter. Ameriprise Financial Inc. now owns 4,628,328 shares of the company’s stock worth $112,006,000 after buying an additional 1,270,798 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in Unity Software by 8.8% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,017,147 shares of the company’s stock valued at $73,015,000 after acquiring an additional 243,990 shares in the last quarter. Institutional investors and hedge funds own 73.46% of the company’s stock.

Insider Transactions at Unity Software

In related news, CFO Jarrod Yahes sold 27,742 shares of the stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $42.79, for a total value of $1,187,080.18. Following the sale, the chief financial officer owned 546,129 shares of the company’s stock, valued at $23,368,859.91. This trade represents a 4.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Tomer Bar-Zeev sold 50,000 shares of Unity Software stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $47.00, for a total transaction of $2,350,000.00. Following the completion of the sale, the director owned 873,146 shares in the company, valued at approximately $41,037,862. This represents a 5.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,647,935 shares of company stock valued at $75,174,498 over the last three months. 3.61% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. UBS Group boosted their target price on shares of Unity Software from $35.00 to $40.00 and gave the stock a “neutral” rating in a research report on Monday, October 20th. Jefferies Financial Group lifted their price target on Unity Software from $49.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, January 5th. Piper Sandler upgraded Unity Software from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $43.00 to $59.00 in a research note on Thursday, December 11th. Wells Fargo & Company increased their target price on Unity Software from $51.00 to $54.00 and gave the stock an “overweight” rating in a report on Thursday, January 8th. Finally, Wall Street Zen upgraded Unity Software from a “hold” rating to a “buy” rating in a report on Saturday, December 6th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $45.27.

Unity Software Stock Performance

Shares of U stock opened at $41.53 on Wednesday. The company has a market cap of $17.77 billion, a P/E ratio of -39.55, a PEG ratio of 42.92 and a beta of 2.04. The business has a 50 day moving average of $43.69 and a two-hundred day moving average of $39.80. Unity Software Inc. has a 52 week low of $15.33 and a 52 week high of $52.15. The company has a quick ratio of 2.78, a current ratio of 2.78 and a debt-to-equity ratio of 0.70.

Unity Software (NYSE:U) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.20 earnings per share for the quarter, topping 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 business had revenue of $470.62 million for the quarter, compared to analysts’ expectations of $452.87 million. During the same period in the prior year, the firm earned ($0.31) EPS. The business’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, analysts anticipate that Unity Software Inc. will post -1.25 EPS for the current year.

About Unity Software

Unity Software is a leading provider of a real-time 3D development platform that enables creators across industries to design, build and operate interactive, real-time experiences. Originally focused on the game development market, Unity’s technology now extends into sectors such as film, automotive, architecture, engineering and construction, delivering immersive content for mobile, desktop, console, augmented reality and virtual reality devices. The company’s core offering comprises a suite of authoring tools, runtime engines and cloud services that streamline the creation and deployment of interactive 3D applications.

The Unity Editor serves as the central hub where developers design scenes, script behavior and iterate on assets.