Ilmarinen Mutual Pension Insurance Co Raises Position in Unity Software Inc. (NYSE:U)

Posted by Defense World Staff on Sep 13th, 2023

Ilmarinen Mutual Pension Insurance Co lifted its stake in shares of Unity Software Inc. (NYSE:U – Free Report) by 33.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 200,000 shares of the company’s stock after buying an additional 49,999 shares during the quarter. Ilmarinen Mutual Pension Insurance Co owned about 0.07% of Unity Software worth $6,488,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Compagnie Lombard Odier SCmA raised its position in Unity Software by 2,000.0% in the fourth quarter. Compagnie Lombard Odier SCmA now owns 1,050 shares of the company’s stock worth $30,000 after acquiring an additional 1,000 shares during the period. Bessemer Group Inc. bought a new position in Unity Software in the first quarter worth approximately $33,000. Ameritas Advisory Services LLC bought a new position in Unity Software in the first quarter worth approximately $43,000. Manchester Capital Management LLC bought a new position in Unity Software in the first quarter worth approximately $44,000. Finally, Geneos Wealth Management Inc. raised its position in Unity Software by 48.2% in the first quarter. Geneos Wealth Management Inc. now owns 1,621 shares of the company’s stock worth $53,000 after acquiring an additional 527 shares during the period. Hedge funds and other institutional investors own 64.74% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on U. Morgan Stanley raised their price objective on shares of Unity Software from $28.00 to $40.00 and gave the company an “equal weight” rating in a research report on Thursday, August 3rd. Needham & Company LLC lifted their price target on shares of Unity Software from $44.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, August 3rd. CICC Research began coverage on shares of Unity Software in a report on Monday, August 28th. They issued an “outperform” rating for the company. JMP Securities began coverage on shares of Unity Software in a report on Thursday, June 29th. They issued a “market perform” rating for the company. Finally, Wells Fargo & Company boosted their price target on shares of Unity Software from $48.00 to $54.00 and gave the company an “overweight” rating in a report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Unity Software currently has an average rating of “Hold” and a consensus target price of $42.69.

Check Out Our Latest Analysis on Unity Software

Insider Activity

In related news, insider Tomer Bar-Zeev sold 187,500 shares of the firm’s stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $41.41, for a total transaction of $7,764,375.00. Following the completion of the sale, the insider now directly owns 1,451,459 shares in the company, valued at $60,104,917.19. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Tomer Bar-Zeev sold 187,500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $41.41, for a total value of $7,764,375.00. Following the completion of the transaction, the insider now owns 1,451,459 shares of the company’s stock, valued at $60,104,917.19. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO John S. Riccitiello sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $40.00, for a total transaction of $80,000.00. Following the completion of the transaction, the chief executive officer now directly owns 3,211,394 shares of the company’s stock, valued at approximately $128,455,760. The disclosure for this sale can be found here. Insiders sold 595,621 shares of company stock worth $24,534,143 over the last three months. Insiders own 9.00% of the company’s stock.

Unity Software Stock Performance

NYSE:U opened at $38.97 on Wednesday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.46 and a current ratio of 2.46. The company has a fifty day moving average of $39.93 and a two-hundred day moving average of $34.38. The stock has a market capitalization of $14.94 billion, a PE ratio of -13.72 and a beta of 2.41. Unity Software Inc. has a fifty-two week low of $21.22 and a fifty-two week high of $50.08.

Unity Software (NYSE:U – Get Free Report) last posted its quarterly earnings data on Wednesday, August 2nd. The company reported ($0.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.04. The company had revenue of $533.48 million during the quarter, compared to analysts’ expectations of $514.80 million. Unity Software had a negative net margin of 54.46% and a negative return on equity of 19.44%. As a group, research analysts forecast that Unity Software Inc. will post -0.88 earnings per share for the current fiscal year.

Unity Software Company Profile

(Free Report)

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.