Migdal Insurance & Financial Holdings Ltd. Makes New Investment in Unity Software Inc. (NYSE:U)

Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Unity Software Inc. (NYSE:U) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 27,965 shares of the company’s stock, valued at approximately $456,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of U. International Assets Investment Management LLC boosted its position in Unity Software by 2,887.0% during the fourth quarter. International Assets Investment Management LLC now owns 47,882 shares of the company’s stock valued at $1,958,000 after purchasing an additional 46,279 shares during the last quarter. Federated Hermes Inc. acquired a new position in Unity Software during the fourth quarter worth approximately $804,000. abrdn plc lifted its position in shares of Unity Software by 133.4% in the fourth quarter. abrdn plc now owns 99,927 shares of the company’s stock valued at $4,086,000 after buying an additional 57,117 shares during the last quarter. GAMMA Investing LLC acquired a new stake in Unity Software during the 4th quarter valued at $28,000. Finally, Van ECK Associates Corp grew its stake in Unity Software by 20.0% in the 4th quarter. Van ECK Associates Corp now owns 1,158,279 shares of the company’s stock valued at $47,362,000 after buying an additional 193,024 shares during the last quarter. Institutional investors and hedge funds own 73.46% of the company’s stock.

Unity Software Stock Up 1.3 %

Shares of NYSE:U traded up $0.21 during midday trading on Thursday, hitting $16.67. 6,547,922 shares of the company’s stock were exchanged, compared to its average volume of 9,671,790. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.36 and a quick ratio of 2.36. Unity Software Inc. has a 12 month low of $13.90 and a 12 month high of $43.54. The company has a market cap of $6.62 billion, a PE ratio of -7.66 and a beta of 2.25. The stock has a 50 day moving average price of $16.19 and a 200-day moving average price of $21.65.

Unity Software (NYSE:U) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.12. The firm had revenue of $449.30 million for the quarter, compared to the consensus estimate of $438.37 million. Unity Software had a negative net margin of 38.52% and a negative return on equity of 8.78%. The business’s revenue for the quarter was down 15.8% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.26) EPS. On average, sell-side analysts anticipate that Unity Software Inc. will post -1.9 EPS for the current fiscal year.

Insider Transactions at Unity Software

In other Unity Software news, SVP Anirma Gupta sold 1,506 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $16.73, for a total value of $25,195.38. Following the transaction, the senior vice president now directly owns 409,540 shares in the company, valued at $6,851,604.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 5,472 shares of company stock worth $90,871 in the last ninety days. Company insiders own 6.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. JMP Securities reissued a “market perform” rating on shares of Unity Software in a report on Friday, May 10th. Stifel Nicolaus lowered their price target on shares of Unity Software from $25.00 to $20.00 and set a “buy” rating for the company in a report on Friday, August 9th. Wedbush cut their price objective on Unity Software from $33.50 to $21.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Piper Sandler reiterated a “neutral” rating and issued a $17.00 target price (down from $25.00) on shares of Unity Software in a research report on Friday, August 9th. Finally, Needham & Company LLC reduced their price target on Unity Software from $31.00 to $23.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $26.46.

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.