abrdn plc Acquires 57,117 Shares of Unity Software Inc. (NYSE:U)

abrdn plc raised its stake in shares of Unity Software Inc. (NYSE:U) by 133.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 99,927 shares of the company’s stock after purchasing an additional 57,117 shares during the period. abrdn plc’s holdings in Unity Software were worth $4,086,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. SG Americas Securities LLC raised its holdings in shares of Unity Software by 236.2% in the third quarter. SG Americas Securities LLC now owns 34,512 shares of the company’s stock valued at $1,083,000 after purchasing an additional 24,248 shares during the last quarter. DAVENPORT & Co LLC grew its position in Unity Software by 6.2% in the 3rd quarter. DAVENPORT & Co LLC now owns 16,682 shares of the company’s stock worth $524,000 after purchasing an additional 981 shares in the last quarter. Handelsbanken Fonder AB increased its stake in Unity Software by 7.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 99,782 shares of the company’s stock valued at $3,132,000 after buying an additional 6,943 shares during the last quarter. U.S. Capital Wealth Advisors LLC lifted its position in shares of Unity Software by 8.3% during the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 22,210 shares of the company’s stock worth $697,000 after buying an additional 1,700 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted its stake in shares of Unity Software by 4.2% in the 3rd quarter. Commonwealth Equity Services LLC now owns 98,440 shares of the company’s stock worth $3,090,000 after buying an additional 3,966 shares during the last quarter. 73.46% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on U shares. The Goldman Sachs Group lifted their price target on Unity Software from $29.00 to $32.00 and gave the stock a “neutral” rating in a report on Tuesday, January 9th. Macquarie downgraded shares of Unity Software from a “neutral” rating to an “underperform” rating and set a $20.00 price target on the stock. in a report on Monday, February 12th. Citigroup lowered their price objective on shares of Unity Software from $50.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, February 28th. Wedbush dropped their target price on shares of Unity Software from $50.00 to $33.50 and set an “outperform” rating on the stock in a research note on Tuesday, February 27th. Finally, Piper Sandler upgraded shares of Unity Software from an “underweight” rating to a “neutral” rating and decreased their price target for the stock from $35.00 to $30.00 in a research note on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $37.03.

Insider Activity

In related news, CMO Carol W. Carpenter sold 2,000 shares of Unity Software stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $32.51, for a total value of $65,020.00. Following the transaction, the chief marketing officer now owns 455,034 shares in the company, valued at approximately $14,793,155.34. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Tomer Bar-Zeev sold 250,000 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $26.59, for a total transaction of $6,647,500.00. Following the completion of the sale, the director now owns 4,498,146 shares of the company’s stock, valued at $119,605,702.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CMO Carol W. Carpenter sold 2,000 shares of Unity Software stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $32.51, for a total transaction of $65,020.00. Following the completion of the transaction, the chief marketing officer now directly owns 455,034 shares in the company, valued at $14,793,155.34. The disclosure for this sale can be found here. In the last 90 days, insiders sold 340,967 shares of company stock valued at $9,552,515. Corporate insiders own 6.30% of the company’s stock.

Unity Software Stock Performance

NYSE U opened at $24.13 on Monday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 2.60 and a current ratio of 2.60. The stock’s 50-day simple moving average is $26.81 and its two-hundred day simple moving average is $30.42. Unity Software Inc. has a twelve month low of $22.20 and a twelve month high of $50.08.

Unity Software (NYSE:U) last announced its quarterly earnings data on Monday, February 26th. The company reported ($0.66) earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.89). Unity Software had a negative net margin of 37.64% and a negative return on equity of 10.14%. The firm had revenue of $609.27 million for the quarter, compared to analysts’ expectations of $551.01 million. During the same period in the prior year, the business posted ($0.50) earnings per share. The business’s quarterly revenue was up 35.1% on a year-over-year basis. As a group, equities research analysts predict that Unity Software Inc. will post -0.63 earnings per share for the current year.

About Unity Software

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.