Grandeur Peak Global Advisors LLC Acquires New Stake in Unity Software Inc. (NYSE:U)

Grandeur Peak Global Advisors LLC purchased a new position in shares of Unity Software Inc. (NYSE:U) during the 1st quarter, HoldingsChannel reports. The firm purchased 1,719 shares of the company’s stock, valued at approximately $172,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of U. Carroll Financial Associates Inc. purchased a new stake in Unity Software during the 1st quarter worth about $25,000. BerganKDV Wealth Management LLC purchased a new stake in Unity Software during the 1st quarter worth about $25,000. Sugarloaf Wealth Management LLC purchased a new stake in Unity Software during the 1st quarter worth about $30,000. Wagner Wealth Management LLC purchased a new stake in Unity Software during the 1st quarter worth about $31,000. Finally, Sandy Spring Bank increased its holdings in Unity Software by 494.7% during the 1st quarter. Sandy Spring Bank now owns 446 shares of the company’s stock worth $45,000 after purchasing an additional 371 shares during the period. Institutional investors own 75.72% of the company’s stock.

In other news, CEO John S. Riccitiello sold 217,124 shares of the firm’s stock in a transaction that occurred on Tuesday, June 1st. The stock was sold at an average price of $93.90, for a total value of $20,387,943.60. Following the completion of the sale, the chief executive officer now directly owns 4,766,824 shares of the company’s stock, valued at approximately $447,604,773.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Ruth Ann Keene sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, May 10th. The shares were sold at an average price of $83.31, for a total value of $583,170.00. Following the completion of the sale, the senior vice president now directly owns 77,121 shares of the company’s stock, valued at $6,424,950.51. The disclosure for this sale can be found here. Insiders have sold a total of 953,585 shares of company stock valued at $92,408,152 over the last ninety days.

A number of research firms have recently commented on U. Morgan Stanley began coverage on Unity Software in a report on Wednesday, June 30th. They issued an “equal weight” rating and a $115.00 price objective on the stock. Credit Suisse Group began coverage on Unity Software in a report on Monday, April 5th. They issued an “outperform” rating and a $170.00 price objective on the stock. DA Davidson dropped their price objective on Unity Software from $175.00 to $150.00 and set a “buy” rating on the stock in a report on Thursday, May 13th. Wedbush dropped their price objective on Unity Software from $175.00 to $125.00 and set an “outperform” rating on the stock in a report on Wednesday, May 12th. Finally, Barclays dropped their price objective on Unity Software from $130.00 to $90.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 12th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $126.00.

Unity Software stock traded down $0.25 during mid-day trading on Thursday, reaching $103.06. 3,266 shares of the company were exchanged, compared to its average volume of 2,542,248. Unity Software Inc. has a twelve month low of $65.11 and a twelve month high of $174.94. The stock has a 50-day moving average price of $99.95. The stock has a market capitalization of $28.80 billion and a price-to-earnings ratio of -89.06.

Unity Software (NYSE:U) last posted its quarterly earnings data on Tuesday, May 11th. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. The company had revenue of $234.80 million for the quarter, compared to analyst estimates of $217.08 million. During the same period in the previous year, the business posted ($0.11) earnings per share. The firm’s revenue was up 40.6% compared to the same quarter last year. Analysts forecast that Unity Software Inc. will post -1.19 EPS for the current fiscal year.

Unity Software Company 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.

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Institutional Ownership by Quarter for Unity Software (NYSE:U)

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