IQ EQ FUND MANAGEMENT IRELAND Ltd Increases Stock Position in Unity Software Inc. (NYSE:U)

IQ EQ FUND MANAGEMENT IRELAND Ltd increased its position in Unity Software Inc. (NYSE:U) by 83.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 43,167 shares of the company’s stock after buying an additional 19,599 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Unity Software were worth $970,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in U. Ariose Capital Management Ltd purchased a new stake in shares of Unity Software in the fourth quarter worth about $2,299,000. Charles Schwab Investment Management Inc. lifted its position in shares of Unity Software by 100.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,886,016 shares of the company’s stock worth $42,662,000 after purchasing an additional 944,709 shares in the last quarter. Edgestream Partners L.P. boosted its stake in shares of Unity Software by 637.9% in the third quarter. Edgestream Partners L.P. now owns 102,899 shares of the company’s stock valued at $2,328,000 after purchasing an additional 88,955 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in Unity Software during the 3rd quarter valued at $4,390,000. Finally, Jessup Wealth Management Inc acquired a new stake in Unity Software during the 4th quarter valued at $510,000. Institutional investors and hedge funds own 73.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on U shares. UBS Group upped their price objective on shares of Unity Software from $21.00 to $23.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Hsbc Global Res raised Unity Software to a “strong-buy” rating in a report on Friday, February 21st. HSBC upgraded Unity Software from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a report on Friday, February 21st. Citigroup raised Unity Software from a “neutral” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Tuesday, March 11th. Finally, Morgan Stanley raised their price target on shares of Unity Software from $26.00 to $32.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Ten analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $25.61.

Unity Software Stock Down 2.3 %

Shares of NYSE:U opened at $21.57 on Friday. The company’s fifty day moving average is $22.60 and its two-hundred day moving average is $22.22. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.41 and a current ratio of 2.41. Unity Software Inc. has a 1-year low of $13.90 and a 1-year high of $30.88. The stock has a market capitalization of $8.84 billion, a price-to-earnings ratio of -12.84 and a beta of 2.27.

Unity Software (NYSE:U) last issued its earnings results on Thursday, February 20th. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.05. The company had revenue of $457.10 million during the quarter, compared to the consensus estimate of $433.47 million. Unity Software had a negative return on equity of 13.40% and a negative net margin of 36.63%. Equities analysts anticipate that Unity Software Inc. will post -1.25 EPS for the current year.

Insider Activity

In other news, COO Alexander Blum sold 1,479 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $25.26, for a total transaction of $37,359.54. Following the transaction, the chief operating officer now directly owns 495,648 shares of the company’s stock, valued at approximately $12,520,068.48. This trade represents a 0.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Tomer Bar-Zeev sold 250,000 shares of Unity Software stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $25.02, for a total transaction of $6,255,000.00. Following the sale, the director now owns 3,648,146 shares in the company, valued at approximately $91,276,612.92. This represents a 6.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 865,236 shares of company stock valued at $20,849,425. 6.30% of the stock is currently owned by company insiders.

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.