Massachusetts Financial Services Co. MA Makes New Investment in Unity Software Inc. $U

Massachusetts Financial Services Co. MA bought a new stake in Unity Software Inc. (NYSE:U) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,653,172 shares of the company’s stock, valued at approximately $106,233,000. Massachusetts Financial Services Co. MA owned approximately 0.63% of Unity Software as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of U. Jefferies Financial Group Inc. acquired a new stake in Unity Software in the 2nd quarter worth about $205,000. Forum Financial Management LP purchased a new position in shares of Unity Software during the 2nd quarter worth about $256,000. Austin Wealth Management LLC acquired a new stake in shares of Unity Software in the second quarter worth approximately $208,000. PNC Financial Services Group Inc. grew its holdings in Unity Software by 148.2% in the second quarter. PNC Financial Services Group Inc. now owns 22,181 shares of the company’s stock valued at $537,000 after purchasing an additional 13,245 shares during the period. Finally, State of Wyoming acquired a new position in Unity Software during the second quarter worth approximately $721,000. 73.46% of the stock is owned by institutional investors and hedge funds.

Unity Software Stock Up 1.4%

Shares of NYSE U opened at $41.53 on Wednesday. Unity Software Inc. has a 12-month low of $15.33 and a 12-month high of $52.15. The company has a market cap of $17.77 billion, a P/E ratio of -39.55, a P/E/G ratio of 42.92 and a beta of 2.04. The company has a current ratio of 2.78, a quick ratio of 2.78 and a debt-to-equity ratio of 0.70. The stock has a fifty day moving average price of $43.69 and a 200 day moving average price of $39.80.

Unity Software (NYSE:U) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03. Unity Software had a negative return on equity of 9.45% and a negative net margin of 24.15%.The company had revenue of $470.62 million for the quarter, compared to analysts’ expectations of $452.87 million. During the same quarter in the previous year, the firm posted ($0.31) earnings per share. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. Research analysts anticipate that Unity Software Inc. will post -1.25 EPS for the current fiscal year.

Wall Street Analyst Weigh In

U has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Unity Software in a report on Wednesday, October 8th. Macquarie raised Unity Software from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $33.00 to $50.00 in a research report on Friday, November 7th. Freedom Capital upgraded Unity Software to a “strong-buy” rating in a report on Thursday, January 15th. Needham & Company LLC boosted their price target on Unity Software from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Finally, The Goldman Sachs Group raised their price objective on Unity Software from $42.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, January 13th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Unity Software currently has a consensus rating of “Moderate Buy” and an average target price of $45.27.

Insider Activity

In other news, CFO Jarrod Yahes sold 34,719 shares of the company’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $41.38, for a total value of $1,436,672.22. Following the completion of the transaction, the chief financial officer directly owned 573,871 shares in the company, valued at approximately $23,746,781.98. This represents a 5.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Matthew S. Bromberg sold 41,025 shares of the firm’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $41.38, for a total transaction of $1,697,614.50. Following the sale, the chief executive officer directly owned 1,192,541 shares of the company’s stock, valued at approximately $49,347,346.58. The trade was a 3.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,647,935 shares of company stock worth $75,174,498 in the last ninety days. 3.61% of the stock is currently owned by company insiders.

Unity Software Company Profile

Unity Software is a leading provider of a real-time 3D development platform that enables creators across industries to design, build and operate interactive, real-time experiences. Originally focused on the game development market, Unity’s technology now extends into sectors such as film, automotive, architecture, engineering and construction, delivering immersive content for mobile, desktop, console, augmented reality and virtual reality devices. The company’s core offering comprises a suite of authoring tools, runtime engines and cloud services that streamline the creation and deployment of interactive 3D applications.

The Unity Editor serves as the central hub where developers design scenes, script behavior and iterate on assets.