Prosperity Wealth Management Inc. Buys New Position in Unity Software Inc. (NYSE:U)

Prosperity Wealth Management Inc. purchased a new position in shares of Unity Software Inc. (NYSE:U) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,550 shares of the company’s stock, valued at approximately $268,000.

A number of other institutional investors have also recently made changes to their positions in U. Front Row Advisors LLC lifted its stake in Unity Software by 15,550.0% in the second quarter. Front Row Advisors LLC now owns 626 shares of the company’s stock worth $27,000 after acquiring an additional 622 shares during the last quarter. Huntington National Bank grew its stake in shares of Unity Software by 665.0% during the third quarter. Huntington National Bank now owns 895 shares of the company’s stock worth $28,000 after purchasing an additional 778 shares in the last quarter. Pacifica Partners Inc. purchased a new position in Unity Software in the fourth quarter valued at $33,000. Impact Partnership Wealth LLC raised its stake in Unity Software by 1,151.0% in the third quarter. Impact Partnership Wealth LLC now owns 1,251 shares of the company’s stock valued at $39,000 after buying an additional 1,151 shares in the last quarter. Finally, IFP Advisors Inc raised its position in shares of Unity Software by 373.7% during the 2nd quarter. IFP Advisors Inc now owns 919 shares of the company’s stock worth $40,000 after acquiring an additional 725 shares in the last quarter. Institutional investors and hedge funds own 73.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on U shares. Macquarie lowered Unity Software from a “neutral” rating to an “underperform” rating and set a $20.00 price objective on the stock. in a report on Monday, February 12th. Wedbush dropped their price target on Unity Software from $50.00 to $33.50 and set an “outperform” rating on the stock in a research note on Tuesday, February 27th. Piper Sandler upgraded Unity Software from an “underweight” rating to a “neutral” rating and reduced their price objective for the company from $35.00 to $30.00 in a research note on Tuesday, February 27th. Needham & Company LLC lowered their price objective on shares of Unity Software from $40.00 to $31.00 and set a “buy” rating on the stock in a research report on Tuesday, February 27th. Finally, Stifel Nicolaus lifted their target price on Unity Software from $32.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, March 1st. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $37.03.

Unity Software Price Performance

Unity Software stock traded down $0.49 during midday trading on Wednesday, hitting $23.94. 6,504,893 shares of the company were exchanged, compared to its average volume of 6,312,530. Unity Software Inc. has a fifty-two week low of $22.20 and a fifty-two week high of $50.08. The company’s fifty day moving average price is $28.48 and its 200-day moving average price is $30.78. The company has a debt-to-equity ratio of 0.85, a quick ratio of 2.60 and a current ratio of 2.60.

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

Insider Transactions at Unity Software

In other news, Director Tomer Bar-Zeev sold 250,000 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $26.59, for a total value of $6,647,500.00. Following the sale, the director now owns 4,498,146 shares in the company, valued at approximately $119,605,702.14. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Tomer Bar-Zeev sold 250,000 shares of Unity Software stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $26.59, for a total value of $6,647,500.00. Following the completion of the transaction, the director now owns 4,498,146 shares in the company, valued at approximately $119,605,702.14. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO James M. Whitehurst sold 44,091 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $32.56, for a total value of $1,435,602.96. Following the sale, the chief executive officer now directly owns 155,909 shares in the company, valued at $5,076,397.04. The disclosure for this sale can be found here. Over the last quarter, insiders sold 341,723 shares of company stock valued at $9,577,516. 9.00% of the stock is currently owned by corporate insiders.

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.