State Board of Administration of Florida Retirement System Buys 7,440 Shares of Unity Software Inc. (NYSE:U)

Posted by Defense World Staff on Sep 18th, 2023

State Board of Administration of Florida Retirement System grew its holdings in shares of Unity Software Inc. (NYSE:U – Free Report) by 3.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 232,479 shares of the company’s stock after buying an additional 7,440 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.06% of Unity Software worth $7,542,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Ameriprise Financial Inc. raised its position in shares of Unity Software by 47.5% during the first quarter. Ameriprise Financial Inc. now owns 82,964 shares of the company’s stock worth $2,691,000 after purchasing an additional 26,725 shares during the period. Advisory Services Network LLC raised its position in shares of Unity Software by 86.3% during the first quarter. Advisory Services Network LLC now owns 26,450 shares of the company’s stock worth $858,000 after purchasing an additional 12,253 shares during the period. Ilmarinen Mutual Pension Insurance Co raised its position in shares of Unity Software by 33.3% during the first quarter. Ilmarinen Mutual Pension Insurance Co now owns 200,000 shares of the company’s stock worth $6,488,000 after purchasing an additional 49,999 shares during the period. Sunbelt Securities Inc. acquired a new position in shares of Unity Software during the first quarter worth approximately $62,000. Finally, Sassicaia Capital Advisers LLC acquired a new position in shares of Unity Software during the first quarter worth approximately $439,000. 64.74% of the stock is currently owned by institutional investors.

Unity Software Trading Up 1.7 %

Shares of U opened at $36.32 on Monday. 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 firm has a market cap of $13.93 billion, a P/E ratio of -12.79 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. The business has a 50-day moving average of $39.57 and a 200 day moving average of $34.58.

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

Insider Transactions at Unity Software

In other news, CEO John S. Riccitiello sold 2,000 shares of the business’s stock in a transaction dated Wednesday, September 6th. The stock was 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 owns 3,211,394 shares of the company’s stock, valued at $128,455,760. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Unity Software news, insider Tomer Bar-Zeev sold 187,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 27th. The stock was sold at an average price of $41.41, for a total value of $7,764,375.00. Following the completion of the sale, the insider now owns 1,451,459 shares in the company, valued at $60,104,917.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John S. Riccitiello sold 2,000 shares of the business’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 value of $80,000.00. Following the completion of the sale, the chief executive officer now 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. Over the last 90 days, insiders sold 783,628 shares of company stock valued at $31,445,280. 9.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

U has been the topic of a number of research reports. Barclays upped their target price on Unity Software from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 3rd. Morgan Stanley raised their price objective on Unity Software from $28.00 to $40.00 and gave the company an “equal weight” rating in a research note on Thursday, August 3rd. Wedbush raised their price objective on Unity Software from $50.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, August 3rd. The Goldman Sachs Group raised their price objective on Unity Software from $40.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, August 3rd. Finally, Oppenheimer restated a “market perform” rating on shares of Unity Software in a research note on Friday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Unity Software has an average rating of “Moderate Buy” and a consensus target price of $43.69.

View Our Latest Analysis on Unity Software

Unity Software 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.