Unity Software Inc. (NYSE:U) Shares Acquired by Janney Montgomery Scott LLC

Posted by Defense World Staff on Oct 22nd, 2023

Janney Montgomery Scott LLC boosted its holdings in shares of Unity Software Inc. (NYSE:U – Free Report) by 120.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 39,261 shares of the company’s stock after purchasing an additional 21,464 shares during the period. Janney Montgomery Scott LLC’s holdings in Unity Software were worth $1,705,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its position in shares of Unity Software by 8.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,349 shares of the company’s stock valued at $431,000 after acquiring an additional 350 shares in the last quarter. MetLife Investment Management LLC purchased a new stake in shares of Unity Software in the 1st quarter valued at approximately $967,000. Dimensional Fund Advisors LP lifted its position in shares of Unity Software by 91.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,954 shares of the company’s stock valued at $690,000 after acquiring an additional 3,313 shares in the last quarter. Sei Investments Co. lifted its position in shares of Unity Software by 38.4% in the 1st quarter. Sei Investments Co. now owns 205,371 shares of the company’s stock valued at $20,396,000 after acquiring an additional 56,958 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in shares of Unity Software by 684.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 5,000 shares of the company’s stock valued at $496,000 after acquiring an additional 4,363 shares in the last quarter. 64.74% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on U shares. Morgan Stanley upped their price target 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. Cannonball Research initiated coverage on shares of Unity Software in a research note on Monday, September 18th. They issued a “neutral” rating on the stock. Credit Suisse Group dropped their price objective on shares of Unity Software from $66.00 to $61.00 and set an “outperform” rating on the stock in a research note on Thursday, August 3rd. DA Davidson upped their price objective on shares of Unity Software from $45.00 to $50.00 in a research note on Wednesday, June 28th. Finally, Citigroup reiterated a “buy” rating and issued a $49.00 price objective on shares of Unity Software in a research note on Tuesday, October 10th. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $43.71.

Read Our Latest Analysis on U

Insider Buying and Selling

In other Unity Software news, Director Lake Group L.L.C. Silver sold 188,007 shares of the stock in a transaction on Friday, September 15th. The shares were sold at an average price of $36.76, for a total value of $6,911,137.32. Following the completion of the sale, the director now directly owns 61,008 shares of the company’s stock, valued at approximately $2,242,654.08. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Unity Software news, Director Lake Group L.L.C. Silver sold 188,007 shares of the stock in a transaction on Friday, September 15th. The shares were sold at an average price of $36.76, for a total value of $6,911,137.32. Following the completion of the sale, the director now directly owns 61,008 shares of the company’s stock, valued at approximately $2,242,654.08. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CMO Carol W. Carpenter sold 2,000 shares of the stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $45.05, for a total transaction of $90,100.00. Following the completion of the sale, the chief marketing officer now directly owns 385,928 shares of the company’s stock, valued at $17,386,056.40. The disclosure for this sale can be found here. In the last three months, insiders sold 501,250 shares of company stock valued at $19,249,439. Company insiders own 9.00% of the company’s stock.

Unity Software Price Performance

NYSE U opened at $27.17 on Friday. The company has a current ratio of 2.46, a quick ratio of 2.46 and a debt-to-equity ratio of 0.78. The company has a fifty day simple moving average of $33.19 and a 200 day simple moving average of $34.71. The company has a market cap of $10.42 billion, a P/E ratio of -9.57 and a beta of 2.42. Unity Software Inc. has a 1 year low of $21.22 and a 1 year 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 (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.04. The business had revenue of $533.48 million during the quarter, compared to the consensus estimate of $514.80 million. Unity Software had a negative net margin of 54.46% and a negative return on equity of 19.44%. On average, sell-side analysts predict that Unity Software Inc. will post -0.88 EPS for the current 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.