Swiss National Bank Grows Stock Holdings in Unity Software Inc. (NYSE:U)

Posted by Defense World Staff on May 12th, 2023

Swiss National Bank increased its position in shares of Unity Software Inc. (NYSE:U – Get Rating) by 20.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,005,300 shares of the company’s stock after buying an additional 171,400 shares during the period. Swiss National Bank owned 0.33% of Unity Software worth $28,742,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in U. Romano Brothers AND Company purchased a new stake in Unity Software during the fourth quarter worth $25,000. Ellevest Inc. raised its position in Unity Software by 133.2% during the fourth quarter. Ellevest Inc. now owns 1,005 shares of the company’s stock worth $29,000 after acquiring an additional 574 shares during the period. FNY Investment Advisers LLC acquired a new stake in shares of Unity Software in the fourth quarter valued at about $37,000. JTC Employer Solutions Trustee Ltd acquired a new stake in shares of Unity Software in the fourth quarter valued at about $38,000. Finally, Motco acquired a new stake in shares of Unity Software in the third quarter valued at about $42,000. 82.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on U. Barclays dropped their price objective on shares of Unity Software from $32.00 to $31.00 in a report on Thursday. The Goldman Sachs Group increased their target price on shares of Unity Software from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 15th. Citigroup lowered their target price on shares of Unity Software from $54.00 to $41.00 and set a “buy” rating for the company in a research note on Monday, February 27th. Morgan Stanley increased their target price on shares of Unity Software from $27.50 to $28.00 in a research note on Thursday. Finally, Oppenheimer lowered shares of Unity Software from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 23rd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $40.06.

Insider Activity at Unity Software

In related news, SVP Marc Whitten sold 3,889 shares of the stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $30.27, for a total value of $117,720.03. Following the sale, the senior vice president now directly owns 677,682 shares of the company’s stock, valued at approximately $20,513,434.14. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Unity Software news, SVP Marc Whitten sold 3,889 shares of the company’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $30.27, for a total value of $117,720.03. Following the transaction, the senior vice president now directly owns 677,682 shares in the company, valued at approximately $20,513,434.14. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Tomer Bar-Zeev sold 75,000 shares of the company’s stock in a transaction dated 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 in the company, valued at $58,259,184.06. The disclosure for this sale can be found here. In the last three months, insiders have sold 155,328 shares of company stock valued at $4,926,866. Insiders own 6.90% of the company’s stock.

Unity Software Price Performance

Shares of NYSE U opened at $32.46 on Friday. The firm has a market capitalization of $9.76 billion, a P/E ratio of -11.00 and a beta of 2.16. Unity Software Inc. has a one year low of $21.22 and a one year high of $58.63. The company’s fifty day moving average is $28.83 and its two-hundred day moving average is $31.16. The company has a debt-to-equity ratio of 0.77, a quick ratio of 2.34 and a current ratio of 2.34.

Unity Software (NYSE:U – Get Rating) last issued its earnings results on Wednesday, February 22nd. The company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.24). The company had revenue of $450.97 million for the quarter, compared to analysts’ expectations of $433.25 million. Unity Software had a negative return on equity of 25.70% and a negative net margin of 66.21%. Analysts forecast that Unity Software Inc. will post -1.46 EPS for the current fiscal year.

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.