IQ EQ FUND MANAGEMENT IRELAND Ltd Purchases New Shares in Unity Software Inc. (NYSE:U)

IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in Unity Software Inc. (NYSE:U) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 14,636 shares of the company’s stock, valued at approximately $238,000.

Several other institutional investors also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Unity Software during the 2nd quarter worth $456,000. Whittier Trust Co. grew its stake in shares of Unity Software by 29.0% during the 2nd quarter. Whittier Trust Co. now owns 424,949 shares of the company’s stock worth $6,905,000 after purchasing an additional 95,414 shares during the period. HB Wealth Management LLC grew its stake in shares of Unity Software by 82.8% during the 2nd quarter. HB Wealth Management LLC now owns 106,202 shares of the company’s stock worth $1,727,000 after purchasing an additional 48,110 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Unity Software by 40.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,471,671 shares of the company’s stock worth $23,929,000 after purchasing an additional 424,806 shares during the period. Finally, Pasadena Private Wealth LLC acquired a new position in shares of Unity Software during the 2nd quarter worth $211,000. 73.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on U. The Goldman Sachs Group lowered their price target on shares of Unity Software from $26.00 to $22.50 and set a “neutral” rating on the stock in a research note on Friday, August 9th. JMP Securities reissued a “market perform” rating on shares of Unity Software in a research note on Friday, May 10th. Piper Sandler reissued a “neutral” rating and issued a $17.00 price objective (down from $25.00) on shares of Unity Software in a research note on Friday, August 9th. Wedbush lowered their price objective on shares of Unity Software from $33.50 to $21.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Finally, Needham & Company LLC lowered their price objective on shares of Unity Software from $31.00 to $23.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $26.46.

Insider Transactions at Unity Software

In related news, SVP Anirma Gupta sold 1,506 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $16.73, for a total transaction of $25,195.38. Following the completion of the sale, the senior vice president now owns 409,540 shares of the company’s stock, valued at approximately $6,851,604.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 5,472 shares of company stock worth $90,871 in the last three months. Company insiders own 6.30% of the company’s stock.

Unity Software Trading Down 2.5 %

Shares of U stock traded down $0.42 during trading hours on Friday, hitting $16.25. 4,981,916 shares of the company were exchanged, compared to its average volume of 9,643,927. The firm has a market cap of $6.45 billion, a PE ratio of -7.44 and a beta of 2.25. Unity Software Inc. has a 1 year low of $13.90 and a 1 year high of $43.54. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 0.70. The firm has a fifty day moving average of $16.22 and a 200 day moving average of $21.61.

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

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.