State of New Jersey Common Pension Fund D Purchases 15,191 Shares of Unity Software Inc. (NYSE:U)

State of New Jersey Common Pension Fund D raised its stake in shares of Unity Software Inc. (NYSE:U) by 11.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 146,952 shares of the company’s stock after buying an additional 15,191 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Unity Software were worth $6,009,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. Harvest Fund Management Co. Ltd bought a new position in shares of Unity Software during the fourth quarter valued at about $27,000. GAMMA Investing LLC bought a new stake in shares of Unity Software during the 4th quarter valued at $28,000. Pacifica Partners Inc. purchased a new position in Unity Software during the fourth quarter valued at $33,000. Huntington National Bank grew its stake in shares of Unity Software by 665.0% in the 3rd quarter. Huntington National Bank now owns 895 shares of the company’s stock worth $28,000 after buying an additional 778 shares in the last quarter. Finally, Impact Partnership Wealth LLC boosted its stake in shares of Unity Software by 1,151.0% during the 3rd quarter. Impact Partnership Wealth LLC now owns 1,251 shares of the company’s stock worth $39,000 after purchasing an additional 1,151 shares during the period. Institutional investors own 73.46% of the company’s stock.

Unity Software Stock Up 3.5 %

Unity Software stock traded up $0.81 during midday trading on Friday, reaching $24.13. The company’s stock had a trading volume of 6,666,418 shares, compared to its average volume of 9,832,680. Unity Software Inc. has a 52-week low of $22.20 and a 52-week high of $50.08. The stock has a market capitalization of $9.43 billion, a P/E ratio of -10.80 and a beta of 2.42. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.60 and a quick ratio of 2.60. The stock’s 50-day simple moving average is $27.01 and its 200-day simple moving average is $30.45.

Unity Software (NYSE:U) last issued its quarterly earnings data on Monday, February 26th. The company reported ($0.66) EPS for the quarter, missing the consensus estimate of $0.23 by ($0.89). The business had revenue of $609.27 million during the quarter, compared to analyst estimates of $551.01 million. Unity Software had a negative net margin of 37.64% and a negative return on equity of 10.14%. The firm’s revenue for the quarter was up 35.1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.50) earnings per share. On average, sell-side analysts expect that Unity Software Inc. will post -0.63 EPS for the current year.

Insider Activity at Unity Software

In other news, Director Tomer Bar-Zeev sold 250,000 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $26.59, for a total value of $6,647,500.00. Following the completion of the sale, the director now directly owns 4,498,146 shares of the company’s stock, valued at approximately $119,605,702.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Unity Software news, Director Tomer Bar-Zeev sold 250,000 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $26.59, for a total value of $6,647,500.00. Following the completion of the transaction, the director now owns 4,498,146 shares in the company, valued at $119,605,702.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Anirma Gupta sold 756 shares of Unity Software stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $33.07, for a total value of $25,000.92. Following the sale, the senior vice president now owns 396,985 shares of the company’s stock, valued at approximately $13,128,293.95. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 341,723 shares of company stock worth $9,577,516. 9.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. William Blair reiterated an “outperform” rating on shares of Unity Software in a research note on Tuesday, January 9th. Needham & Company LLC dropped their price objective 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. Citigroup lowered their price objective on shares of Unity Software from $50.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, February 28th. Piper Sandler raised shares of Unity Software from an “underweight” rating to a “neutral” rating and reduced their target price for the company from $35.00 to $30.00 in a report on Tuesday, February 27th. Finally, Macquarie lowered shares of Unity Software from a “neutral” rating to an “underperform” rating and set a $20.00 target price on the stock. in a research report on Monday, February 12th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Unity Software currently has an average rating of “Hold” and an average target price of $37.03.

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.