Algert Global LLC Purchases New Position in Unity Software Inc. (NYSE:U)

Algert Global LLC acquired a new position in shares of Unity Software Inc. (NYSE:U) during the third quarter, HoldingsChannel reports. The institutional investor acquired 76,620 shares of the company’s stock, valued at approximately $1,733,000.

Several other institutional investors have also modified their holdings of the stock. Farther Finance Advisors LLC raised its stake in Unity Software by 4.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 13,947 shares of the company’s stock worth $315,000 after acquiring an additional 538 shares in the last quarter. Advisors Asset Management Inc. raised its stake in shares of Unity Software by 31.6% during the first quarter. Advisors Asset Management Inc. now owns 2,338 shares of the company’s stock worth $62,000 after purchasing an additional 562 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in shares of Unity Software by 28.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 3,923 shares of the company’s stock worth $89,000 after acquiring an additional 876 shares during the period. GAMMA Investing LLC lifted its position in Unity Software by 343.8% in the third quarter. GAMMA Investing LLC now owns 1,225 shares of the company’s stock valued at $28,000 after purchasing an additional 949 shares during the period. Finally, Intech Investment Management LLC raised its stake in shares of Unity Software by 8.2% during the 2nd quarter. Intech Investment Management LLC now owns 13,270 shares of the company’s stock worth $216,000 after buying an additional 1,010 shares in the last quarter. Hedge funds and other institutional investors own 73.46% of the company’s stock.

Unity Software Trading Up 0.5 %

Shares of U opened at $23.48 on Thursday. Unity Software Inc. has a twelve month low of $13.90 and a twelve month high of $43.54. The firm has a market capitalization of $9.46 billion, a P/E ratio of -11.51 and a beta of 2.29. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.70. The stock’s fifty day simple moving average is $21.18 and its 200 day simple moving average is $18.64.

Insider Activity

In related news, SVP Felix The sold 30,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $17.89, for a total value of $536,700.00. Following the completion of the sale, the senior vice president now directly owns 423,679 shares in the company, valued at approximately $7,579,617.31. This represents a 6.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Shlomo Dovrat sold 3,750 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $17.99, for a total value of $67,462.50. Following the completion of the sale, the director now owns 2,394,935 shares of the company’s stock, valued at approximately $43,084,880.65. This trade represents a 0.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 554,381 shares of company stock valued at $10,631,723 in the last three months. Corporate insiders own 6.30% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on U shares. Needham & Company LLC lifted their price target on Unity Software from $23.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Piper Sandler reiterated a “neutral” rating and issued a $17.00 price objective (down previously from $25.00) on shares of Unity Software in a research note on Friday, August 9th. Oppenheimer restated a “market perform” rating on shares of Unity Software in a research report on Friday, October 18th. Wells Fargo & Company began coverage on Unity Software in a research note on Monday, October 28th. They set an “equal weight” rating and a $20.00 price target on the stock. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Unity Software in a research note on Friday, September 13th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $23.35.

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.