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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 Rating) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 5,094 shares of the company’s stock, valued at approximately $426,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vestmark Advisory Solutions Inc. purchased a new stake in shares of Unity Software in the 1st quarter worth approximately $578,000. Avantax Advisory Services Inc. purchased a new stake in shares of Unity Software in the 1st quarter worth approximately $203,000. Sciencast Management LP purchased a new stake in shares of Unity Software in the 1st quarter worth approximately $669,000. Newbridge Financial Services Group Inc. grew its stake in shares of Unity Software by 26.3% in the 1st quarter. Newbridge Financial Services Group Inc. now owns 1,003 shares of the company’s stock worth $100,000 after buying an additional 209 shares during the last quarter. Finally, Avestar Capital LLC grew its stake in shares of Unity Software by 188.3% in the 1st quarter. Avestar Capital LLC now owns 10,393 shares of the company’s stock worth $1,031,000 after buying an additional 22,163 shares during the last quarter. Hedge funds and other institutional investors own 75.48% of the company’s stock.

Insider Buying and Selling

In related news, CFO Luis Felipe Visoso sold 33,804 shares of the firm’s stock in a transaction on Thursday, May 26th. The stock was sold at an average price of $38.17, for a total value of $1,290,298.68. Following the transaction, the chief financial officer now directly owns 324,145 shares of the company’s stock, valued at approximately $12,372,614.65. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Unity Software news, CFO Luis Felipe Visoso sold 33,804 shares of the stock in a transaction on Thursday, May 26th. 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 chief financial officer now owns 324,145 shares in the company, valued at approximately $12,372,614.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Marc Whitten sold 3,433 shares of the stock in a transaction on Monday, May 2nd. 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’s stock, valued at approximately $17,748,100.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,338 shares of company stock valued at $2,394,305. 6.90% of the stock is owned by company insiders.

Unity Software Price Performance

NYSE U opened at $37.39 on Friday. The business’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-to-earnings ratio of -17.80 and a beta of 2.37. The company has a debt-to-equity ratio of 0.72, a current ratio of 3.53 and a quick ratio of 3.53. Unity Software Inc. has a 1-year low of $29.09 and a 1-year high of $210.00.

Unity Software (NYSE:U – Get Rating) last announced its earnings results on Tuesday, May 10th. The company reported ($0.44) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.04). Unity Software had a negative return on equity of 20.50% and a negative net margin of 50.40%. The company had revenue of $320.13 million during the quarter, compared to the consensus estimate of $321.17 million. During the same period in the previous year, the business posted ($0.38) earnings per share. Unity Software’s revenue for the quarter was up 36.4% compared to the same quarter last year. On average, equity analysts predict that Unity Software Inc. will post -1.68 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Citigroup cut their price target on Unity Software from $71.00 to $68.00 and set a “buy” rating on the stock in a research note on Thursday, July 7th. Daiwa Capital Markets downgraded Unity Software from an “outperform” rating to a “neutral” rating and cut their target price for the company from $110.00 to $34.00 in a research note on Wednesday, May 11th. KeyCorp initiated coverage on Unity Software in a research note on Thursday, June 30th. They set a “sector weight” rating on the stock. Wedbush cut their target price on Unity Software from $125.00 to $70.00 in a research note on Wednesday, May 11th. Finally, Jefferies Financial Group cut their target price on Unity Software from $40.00 to $36.00 in a research note on Thursday, June 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the stock. 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

(GetRating)

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.

further reading

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Institutional Ownership by Quarter for Unity Software (NYSE:U)



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