Axxcess Wealth Management LLC Increases Stock Position in Unity Software Inc. (NYSE:U)

Axxcess Wealth Management LLC boosted its position in Unity Software Inc. (NYSE:U) by 15.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,531 shares of the company’s stock after buying an additional 1,433 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Unity Software were worth $431,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Northern Trust Corp raised its holdings in Unity Software by 4.8% in the third quarter. Northern Trust Corp now owns 1,583,326 shares of the company’s stock valued at $49,701,000 after acquiring an additional 72,770 shares in the last quarter. Natixis Advisors L.P. raised its stake in shares of Unity Software by 3.2% in the 3rd quarter. Natixis Advisors L.P. now owns 13,226 shares of the company’s stock valued at $415,000 after purchasing an additional 407 shares in the last quarter. Compagnie Lombard Odier SCmA lifted its position in shares of Unity Software by 20.3% during the fourth quarter. Compagnie Lombard Odier SCmA now owns 3,670 shares of the company’s stock worth $150,000 after purchasing an additional 620 shares during the last quarter. Graham Capital Management L.P. acquired a new position in Unity Software in the third quarter worth about $414,000. Finally, LA Financiere DE L Echiquier increased its holdings in Unity Software by 25.3% in the fourth quarter. LA Financiere DE L Echiquier now owns 399,600 shares of the company’s stock valued at $16,340,000 after buying an additional 80,600 shares during the last quarter. 73.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on U shares. Wedbush reissued an “outperform” rating and set a $33.50 target price on shares of Unity Software in a report on Thursday, May 2nd. Stifel Nicolaus increased their price objective on shares of Unity Software from $32.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Piper Sandler upgraded Unity Software from an “underweight” rating to a “neutral” rating and decreased their target price for the company from $35.00 to $30.00 in a research note on Tuesday, February 27th. Citigroup dropped their price target on Unity Software from $50.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, February 28th. Finally, Needham & Company LLC cut their price target on Unity Software from $40.00 to $31.00 and set a “buy” rating on the stock in a report on Tuesday, February 27th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $37.03.

Unity Software Price Performance

U opened at $24.09 on Thursday. Unity Software Inc. has a 12-month low of $22.20 and a 12-month high of $50.08. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $9.30 billion, a P/E ratio of -11.22 and a beta of 2.40. The stock has a fifty day moving average of $25.82 and a 200-day moving average of $30.26.

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

Insider Activity at Unity Software

In other Unity Software news, CEO James M. Whitehurst sold 44,091 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $32.56, for a total transaction of $1,435,602.96. Following the transaction, the chief executive officer now directly owns 155,909 shares of the company’s stock, valued at $5,076,397.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO James M. Whitehurst sold 44,091 shares of the business’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 155,909 shares in the company, valued at $5,076,397.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Luis Felipe Visoso sold 11,756 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $32.55, for a total transaction of $382,657.80. Following the completion of the transaction, the chief financial officer now owns 1,100,133 shares in the company, valued at $35,809,329.15. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 338,917 shares of company stock valued at $9,460,820. 6.30% of the stock is currently owned by corporate insiders.

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.