Alliancebernstein L.P. Has $17.97 Million Position in Unity Software Inc. (NYSE:U)

Alliancebernstein L.P. lifted its holdings in Unity Software Inc. (NYSE:U) by 541.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 799,817 shares of the company’s stock after buying an additional 675,099 shares during the quarter. Alliancebernstein L.P.’s holdings in Unity Software were worth $17,972,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Ariose Capital Management Ltd acquired a new stake in shares of Unity Software in the 4th quarter valued at about $2,299,000. Y Intercept Hong Kong Ltd bought a new position in shares of Unity Software during the third quarter worth about $4,390,000. Jessup Wealth Management Inc acquired a new stake in Unity Software in the 4th quarter valued at approximately $510,000. Vanguard Group Inc. lifted its stake in Unity Software by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 31,123,035 shares of the company’s stock valued at $699,335,000 after acquiring an additional 625,872 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its position in Unity Software by 10.0% during the 4th quarter. CIBC Asset Management Inc now owns 376,794 shares of the company’s stock worth $8,467,000 after acquiring an additional 34,322 shares during the last quarter. 73.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Unity Software

In other news, CAO Mark Barrysmith sold 1,362 shares of Unity Software stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $21.91, for a total value of $29,841.42. Following the completion of the sale, the chief accounting officer now directly owns 452,276 shares in the company, valued at approximately $9,909,367.16. The trade was a 0.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David Helgason sold 38,924 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $26.92, for a total value of $1,047,834.08. Following the sale, the director now directly owns 7,828,494 shares in the company, valued at $210,743,058.48. This represents a 0.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 781,903 shares of company stock valued at $17,934,432 in the last ninety days. 6.30% of the stock is currently owned by corporate insiders.

Unity Software Stock Performance

NYSE U opened at $17.22 on Tuesday. The stock has a market cap of $7.05 billion, a PE ratio of -10.25 and a beta of 2.31. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.41 and a current ratio of 2.41. The firm has a 50-day moving average of $22.16 and a 200-day moving average of $22.27. Unity Software Inc. has a 52-week low of $13.90 and a 52-week high of $30.88.

Unity Software (NYSE:U) last issued its quarterly earnings data on Thursday, February 20th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $457.10 million during the quarter, compared to the consensus estimate of $433.47 million. On average, sell-side analysts anticipate that Unity Software Inc. will post -1.25 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on U. 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, March 11th. Wedbush reissued an “outperform” rating and set a $27.00 price target on shares of Unity Software in a research report on Thursday, February 13th. JMP Securities restated a “market perform” rating on shares of Unity Software in a report on Monday, February 3rd. Morgan Stanley upped their target price on Unity Software from $26.00 to $32.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Finally, HSBC upgraded Unity Software from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a research note on Friday, February 21st. Ten equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Unity Software currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.75.

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.