Taconic Capital Advisors LP Acquires 25,000 Shares of Unity Software Inc. (NYSE:U)

Taconic Capital Advisors LP raised its holdings in shares of Unity Software Inc. (NYSE:U) by 50.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,000 shares of the company’s stock after purchasing an additional 25,000 shares during the period. Unity Software accounts for about 0.9% of Taconic Capital Advisors LP’s holdings, making the stock its 13th largest holding. Taconic Capital Advisors LP’s holdings in Unity Software were worth $1,696,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of U. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Unity Software by 11.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,791 shares of the company’s stock worth $1,217,000 after acquiring an additional 5,522 shares in the last quarter. Brooklyn Investment Group purchased a new stake in shares of Unity Software in the 3rd quarter worth approximately $43,000. The Manufacturers Life Insurance Company grew its stake in shares of Unity Software by 5.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 86,602 shares of the company’s stock worth $1,959,000 after buying an additional 4,497 shares during the last quarter. West Tower Group LLC purchased a new stake in shares of Unity Software in the 3rd quarter worth approximately $226,000. Finally, Monolith Management Ltd purchased a new stake in shares of Unity Software in the 3rd quarter worth approximately $10,993,000. Institutional investors own 73.46% of the company’s stock.

Wall Street Analyst Weigh In

U has been the topic of several recent research reports. Morgan Stanley upgraded Unity Software from an “equal weight” rating to an “overweight” rating and set a $22.00 price target on the stock in a research note on Tuesday, September 3rd. Wedbush upped their price target on Unity Software from $21.00 to $27.00 and gave the stock an “outperform” rating in a research note on Monday, September 16th. Needham & Company LLC increased their target price on Unity Software from $23.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Piper Sandler reiterated a “neutral” rating and set a $17.00 target price (down from $25.00) on shares of Unity Software in a research note on Friday, August 9th. Finally, JMP Securities reiterated a “market perform” rating on shares of Unity Software in a research note on Friday, September 13th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Unity Software has an average rating of “Hold” and a consensus price target of $23.35.

Unity Software Trading Up 0.5 %

Shares of Unity Software stock opened at $23.47 on Friday. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.70. The company has a fifty day moving average of $21.24 and a 200 day moving average of $18.67. Unity Software Inc. has a fifty-two week low of $13.90 and a fifty-two week high of $43.54.

Insider Buying and Selling

In other news, Director Tomer Bar-Zeev sold 250,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $17.52, for a total transaction of $4,380,000.00. Following the completion of the transaction, the director now owns 4,248,146 shares in the company, valued at $74,427,517.92. This trade represents a 5.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Mark Barrysmith sold 8,112 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $24.38, for a total value of $197,770.56. Following the transaction, the chief financial officer now owns 454,866 shares of the company’s stock, valued at approximately $11,089,633.08. The trade was a 1.75 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 554,381 shares of company stock valued at $10,631,723. Company insiders own 6.30% of the company’s stock.

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.