Comerica Bank makes new investment in Unity Software Inc. (NYSE:U)
Comerica Bank bought a new position in shares of Unity Software Inc. (NYSE:U – Get a rating) during the first quarter, according to the company in its latest filing with the Securities and Exchange Commission. The institutional investor purchased 5,094 shares of the company, valued at around $426,000.
Other hedge funds and other institutional investors have also recently changed their positions in the company. Vestmark Advisory Solutions Inc. purchased a new equity stake in Unity Software in Q1 for approximately $578,000. Avantax Advisory Services Inc. purchased a new equity stake in Unity Software in Q1 worth approximately $203,000. Sciencast Management LP purchased a new equity stake in Unity Software in Q1 for approximately $669,000. Newbridge Financial Services Group Inc. increased its stake in Unity Software shares by 26.3% in Q1. Newbridge Financial Services Group Inc. now owns 1,003 shares of the company worth $100,000 after purchasing an additional 209 shares in the last quarter. Finally, Avestar Capital LLC increased its stake in Unity Software shares by 188.3% in the 1st quarter. Avestar Capital LLC now owns 10,393 shares of the company worth $1,031,000 after purchasing an additional 22,163 shares in the last quarter. Hedge funds and other institutional investors hold 75.48% of the company’s shares.
Insider buying and selling
In related news, CFO Luis Felipe Visoso sold 33,804 shares of the company in a trade on Thursday, May 26. The stock was sold at an average price of $38.17, for a total value of $1,290,298.68. Following the transaction, the CFO now directly owns 324,145 shares of the company, valued at approximately $12,372,614.65. The sale was disclosed in a legal filing with the SEC, which is available via the SEC website. In other Unity Software news, CFO Luis Felipe Visoso sold 33,804 shares in a trade on Thursday, May 26. The stock was sold at an average price of $38.17, for a total value of $1,290,298.68. Following the completion of the sale, the CFO now owns 324,145 shares of the company, valued at approximately $12,372,614.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, available at this link. Also, please Marc Whitten sold 3,433 shares in a trade on Monday, May 2. The stock was sold at an average price of $65.54, for a total value of $224,998.82. Following the completion of the sale, the senior vice president now owns 270,798 shares of the company, valued at approximately $17,748,100.92. Disclosure of this sale can be found here. In the past three months, insiders have sold 59,338 shares of the company valued at $2,394,305. 6.90% of the shares are held by insiders of the company.
Unity Software Price Performance
NYSE U opened at $37.39 on Friday. The company’s fifty-day moving average price is $38.91 and its 200-day moving average price is $71.37. The stock has a market capitalization of $11.07 billion, a price-earnings ratio of -17.80 and a beta of 2.37. The company has a debt ratio of 0.72, a current ratio of 3.53 and a quick ratio of 3.53. Unity Software Inc. has a 1 year minimum of $29.09 and a 1 year maximum of $210.00.
Unit software (NYSE:U – Get a rating) last announced its results on Tuesday, May 10. The company reported ($0.44) EPS for the quarter, missing analyst consensus estimates of ($0.40) by ($0.04). Unity Software posted a negative return on equity of 20.50% and a negative net margin of 50.40%. The company posted revenue of $320.13 million in the quarter, versus a consensus estimate of $321.17 million. In the same period a year earlier, the company posted ($0.38) earnings per share. Unity Software revenue for the quarter increased 36.4% compared to the same quarter last year. On average, stock analysts predict Unity Software Inc. will post -1.68 earnings per share for the current year.
Analysts set new price targets
Several analysts have weighed in on the company recently. Citigroup cut its price target on Unity Software from $71.00 to $68.00 and set a “buy” rating on the stock in a Thursday, July 7 research note. Daiwa Capital Markets downgraded Unity Software from an “outperform” rating to a “neutral” rating and reduced its target price for the company from $110.00 to $34.00 in a Wednesday, May 11 research note. KeyCorp launched coverage on Unity Software in a research note on Thursday, June 30. They set a “sector weight” rating on the stock. Wedbush reduced its target price on Unity Software from $125.00 to $70.00 in a Wednesday, May 11 research note. Finally, Jefferies Financial Group reduced its target price on Unity Software from $40.00 to $36.00 in a Thursday, June 16 research note. One analyst rated the security with a sell rating, six assigned a hold rating and nine assigned a buy rating. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $89.13.
Unity Software Company Profile
Unity Software Inc operates a real-time 3D development platform. Its platform provides software solutions to create, run and monetize real-time interactive 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, United Kingdom, Germany, Japan, China, Singapore and South Korea. Sud, as well as indirectly through independent distributors and resellers worldwide.
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