Griffin Asset Management Inc. purchased a new stake in shares of Unity Software Inc. (NYSE:U) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 6,710 shares of the company’s stock, valued at approximately $1,030,000.
Several other large investors have also modified their holdings of the company. SC US Ttgp LTD. bought a new stake in Unity Software during the third quarter valued at approximately $2,876,390,000. SC Xii Management LLC purchased a new position in shares of Unity Software during the 3rd quarter worth $2,138,376,000. Thrive Capital Management LLC bought a new stake in shares of Unity Software during the 3rd quarter valued at $307,805,000. Morgan Stanley purchased a new stake in shares of Unity Software in the 3rd quarter worth $214,844,000. Finally, Wells Fargo & Company MN bought a new position in Unity Software in the 3rd quarter worth $124,822,000. Hedge funds and other institutional investors own 61.92% of the company’s stock.
Several research firms have recently commented on U. Wedbush initiated coverage on Unity Software in a research note on Tuesday, October 13th. They issued an “outperform” rating and a $125.00 price objective on the stock. Oppenheimer cut shares of Unity Software from an “outperform” rating to a “market perform” rating in a research note on Monday, November 30th. Piper Sandler upped their price target on shares of Unity Software from $115.00 to $150.00 in a research report on Monday, January 11th. Barclays assumed coverage on shares of Unity Software in a research note on Tuesday, October 13th. They issued an “equal weight” rating and a $97.00 price objective for the company. Finally, The Goldman Sachs Group started coverage on shares of Unity Software in a research note on Tuesday, October 13th. They set a “buy” rating and a $100.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. Unity Software has an average rating of “Buy” and an average price target of $118.70.
In other news, SVP Ruth Ann Keene sold 40,968 shares of the business’s stock in a transaction dated Monday, November 16th. The shares were sold at an average price of $109.00, for a total value of $4,465,512.00. Following the sale, the senior vice president now directly owns 84,718 shares in the company, valued at approximately $9,234,262. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO John S. Riccitiello sold 209,999 shares of the company’s stock in a transaction dated Monday, November 16th. The shares were sold at an average price of $108.43, for a total transaction of $22,770,191.57. Following the sale, the chief executive officer now owns 7,221,232 shares in the company, valued at $782,998,185.76. The disclosure for this sale can be found here. Insiders have sold a total of 461,352 shares of company stock valued at $50,085,915 in the last 90 days.
U opened at $155.86 on Thursday. The company’s fifty day moving average is $152.16. Unity Software Inc. has a fifty-two week low of $65.11 and a fifty-two week high of $174.94.
Unity Software (NYSE:U) last released its quarterly earnings data on Thursday, November 12th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.06. The company had revenue of $200.80 million for the quarter, compared to the consensus estimate of $186.85 million. Unity Software’s revenue was up 53.4% on a year-over-year basis. As a group, equities analysts predict that Unity Software Inc. will post -0.87 EPS for the current fiscal 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.
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