Daiwa Securities Group Inc. Increases Position in Unity Software Inc. (NYSE:U)

Posted by Defense World Staff on May 4th, 2023

Daiwa Securities Group Inc. grew its stake in Unity Software Inc. (NYSE:U – Get Rating) by 161.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,695 shares of the company’s stock after acquiring an additional 23,275 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Unity Software were worth $1,078,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Unity Software by 3.0% in the 3rd quarter. Vanguard Group Inc. now owns 19,022,372 shares of the company’s stock worth $606,053,000 after purchasing an additional 552,115 shares in the last quarter. BlackRock Inc. lifted its position in Unity Software by 2.3% during the 3rd quarter. BlackRock Inc. now owns 11,127,497 shares of the company’s stock worth $354,522,000 after acquiring an additional 250,855 shares during the period. Clearbridge Investments LLC lifted its position 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. State Street Corp lifted its position in Unity Software by 5.9% during the 3rd quarter. State Street Corp now owns 4,195,258 shares of the company’s stock worth $133,661,000 after acquiring an additional 235,447 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in Unity Software by 184.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 2,411,870 shares of the company’s stock worth $88,805,000 after acquiring an additional 1,564,719 shares during the period. Institutional investors and hedge funds own 82.50% of the company’s stock.

Unity Software Stock Down 1.3 %

NYSE:U opened at $24.99 on Thursday. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.77. The stock’s fifty day moving average is $29.06 and its two-hundred day moving average is $31.25. Unity Software Inc. has a 52 week low of $21.22 and a 52 week high of $69.74. The stock has a market capitalization of $7.52 billion, a price-to-earnings ratio of -8.47 and a beta of 2.17.

Unity Software (NYSE:U – Get Rating) last posted its quarterly earnings data on Wednesday, February 22nd. The company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.24). Unity Software had a negative return on equity of 25.70% and a negative net margin of 66.21%. The company had revenue of $450.97 million for the quarter, compared to analysts’ expectations of $433.25 million. Research analysts anticipate that Unity Software Inc. will post -1.48 EPS for the current year.

Insider Activity at Unity Software

In related news, insider Tomer Bar-Zeev sold 75,000 shares of the stock in a transaction on Friday, March 31st. The stock was sold at an average price of $32.34, for a total value of $2,425,500.00. Following the transaction, the insider now owns 1,801,459 shares of the company’s stock, valued at $58,259,184.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Unity Software news, SVP Marc Whitten sold 3,889 shares of the company’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $30.27, for a total value of $117,720.03. Following the completion of the transaction, the senior vice president now owns 677,682 shares in the company, valued at $20,513,434.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tomer Bar-Zeev sold 75,000 shares of the company’s stock in a transaction on Friday, March 31st. The shares were sold at an average price of $32.34, for a total transaction of $2,425,500.00. Following the completion of the transaction, the insider now owns 1,801,459 shares of the company’s stock, valued at approximately $58,259,184.06. The disclosure for this sale can be found here. Insiders have sold 155,328 shares of company stock valued at $4,926,866 over the last quarter. 6.90% of the stock is owned by insiders.

Analyst Ratings Changes

U has been the subject of several research reports. Barclays boosted their price objective on Unity Software from $22.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 25th. Oppenheimer cut Unity Software from an “outperform” rating to a “market perform” rating in a report on Thursday, February 23rd. Credit Suisse Group lowered their target price on Unity Software from $71.00 to $67.00 and set an “outperform” rating on the stock in a report on Thursday, February 23rd. Piper Sandler boosted their target price on Unity Software from $33.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, February 23rd. Finally, Jefferies Financial Group cut Unity Software from a “hold” rating to an “underperform” rating and set a $19.00 target price on the stock. in a report on Thursday, January 12th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $39.79.

About Unity Software

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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.