Rakuten Securities Inc. Purchases 10,994 Shares of Unity Software Inc. (NYSE:U)

Rakuten Securities Inc. increased its stake in Unity Software Inc. (NYSE:U) by 124.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,850 shares of the company’s stock after purchasing an additional 10,994 shares during the quarter. Rakuten Securities Inc.’s holdings in Unity Software were worth $446,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Ariose Capital Management Ltd bought a new stake in shares of Unity Software during the 4th quarter worth $2,299,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Unity Software by 100.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,886,016 shares of the company’s stock worth $42,662,000 after acquiring an additional 944,709 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Unity Software by 2,665.4% during the 3rd quarter. CIBC Asset Management Inc now owns 342,472 shares of the company’s stock worth $7,747,000 after acquiring an additional 330,088 shares during the last quarter. LMR Partners LLP bought a new stake in shares of Unity Software during the 3rd quarter worth $611,000. Finally, Edgestream Partners L.P. lifted its holdings in shares of Unity Software by 637.9% during the 3rd quarter. Edgestream Partners L.P. now owns 102,899 shares of the company’s stock worth $2,328,000 after acquiring an additional 88,955 shares during the last quarter. 73.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on U. Wedbush reissued an “outperform” rating and issued a $27.00 price target on shares of Unity Software in a research note on Thursday, February 13th. Morgan Stanley boosted their price target on shares of Unity Software from $26.00 to $32.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. UBS Group boosted their price target on shares of Unity Software from $21.00 to $23.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Citigroup upgraded shares of Unity Software from a “neutral” rating to a “buy” rating and set a $30.00 price objective on the stock in a report on Tuesday. Finally, Macquarie started coverage on shares of Unity Software in a research report on Monday. They set a “neutral” rating and a $24.00 price target for the company. Ten equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $25.61.

Unity Software Trading Down 2.4 %

Shares of Unity Software stock opened at $20.99 on Wednesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.41 and a quick ratio of 2.41. Unity Software Inc. has a 1-year low of $13.90 and a 1-year high of $30.88. The company’s fifty day simple moving average is $22.90 and its 200-day simple moving average is $21.88. The stock has a market capitalization of $8.60 billion, a PE ratio of -12.49 and a beta of 2.27.

Unity Software (NYSE:U) last released its earnings results on Thursday, February 20th. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.05. Unity Software had a negative net margin of 36.63% and a negative return on equity of 13.40%. The company had revenue of $457.10 million for the quarter, compared to analysts’ expectations of $433.47 million. As a group, equities analysts anticipate that Unity Software Inc. will post -1.25 earnings per share for the current year.

Insider Buying and Selling at Unity Software

In related news, COO Alexander Blum sold 1,479 shares of Unity Software stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $25.26, for a total transaction of $37,359.54. Following the completion of the transaction, the chief operating officer now directly owns 495,648 shares of the company’s stock, valued at approximately $12,520,068.48. The trade was a 0.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Tomer Bar-Zeev sold 236,337 shares of Unity Software stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $23.92, for a total transaction of $5,653,181.04. Following the transaction, the director now directly owns 3,161,809 shares of the company’s stock, valued at approximately $75,630,471.28. This represents a 6.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 864,537 shares of company stock worth $20,839,722. Insiders own 6.30% of the company’s stock.

Unity Software Profile

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.