Spire Wealth Management Raises Stock Position in Unity Software Inc. (NYSE:U)

Spire Wealth Management grew its stake in shares of Unity Software Inc. (NYSE:U) by 234.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,841 shares of the company’s stock after acquiring an additional 7,597 shares during the period. Spire Wealth Management’s holdings in Unity Software were worth $443,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd acquired a new stake in shares of Unity Software during the fourth quarter worth $27,000. Huntington National Bank raised its position in Unity Software by 665.0% during the third quarter. Huntington National Bank now owns 895 shares of the company’s stock worth $28,000 after acquiring an additional 778 shares during the period. GAMMA Investing LLC purchased a new stake in shares of Unity Software during the fourth quarter worth about $28,000. Pacifica Partners Inc. purchased a new position in Unity Software in the 4th quarter valued at about $33,000. Finally, Psagot Value Holdings Ltd. Israel purchased a new stake in Unity Software during the 3rd quarter worth approximately $48,000. 73.46% of the stock is currently owned by institutional investors.

Unity Software Stock Up 0.2 %

Shares of U opened at $24.16 on Friday. The firm has a market capitalization of $9.32 billion, a P/E ratio of -11.15 and a beta of 2.40. The company has a debt-to-equity ratio of 0.85, a quick ratio of 2.60 and a current ratio of 2.60. The company has a 50-day simple moving average of $25.72 and a 200-day simple moving average of $30.21. Unity Software Inc. has a 52 week low of $22.20 and a 52 week high of $50.08.

Unity Software (NYSE:U) last released its quarterly earnings results 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 firm had revenue of $609.27 million during the quarter, compared to analyst estimates of $551.01 million. During the same quarter last year, the firm earned ($0.50) earnings per share. Unity Software’s quarterly revenue was up 35.1% on a year-over-year basis. On average, equities research analysts expect that Unity Software Inc. will post -0.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

U has been the subject of a number of recent research reports. Citigroup decreased their target price on Unity Software from $50.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, February 28th. Needham & Company LLC cut their price target on shares of Unity Software from $40.00 to $31.00 and set a “buy” rating for the company in a report on Tuesday, February 27th. Macquarie downgraded Unity Software from a “neutral” rating to an “underperform” rating and set a $20.00 price objective for the company. in a research report on Monday, February 12th. Barclays dropped their target price on Unity Software from $30.00 to $28.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 27th. Finally, Stifel Nicolaus raised their price objective on Unity Software from $32.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Unity Software has a consensus rating of “Hold” and an average price target of $37.03.

Insider Activity at Unity Software

In other news, CEO James M. Whitehurst sold 44,091 shares of Unity Software stock in a transaction dated Monday, February 26th. The stock was 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 owns 155,909 shares in the company, valued at approximately $5,076,397.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Unity Software news, CEO James M. Whitehurst sold 44,091 shares of the company’s 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 sale, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Carol W. Carpenter sold 2,000 shares of Unity Software stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $24.18, for a total value of $48,360.00. Following the transaction, the chief marketing officer now owns 442,617 shares of the company’s stock, valued at approximately $10,702,479.06. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 338,917 shares of company stock worth $9,460,820. 6.30% of the stock is currently owned by company insiders.

Unity Software 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.