Toronto Dominion Bank Takes Position in Unity Software Inc. (NYSE:U)

Toronto Dominion Bank purchased a new stake in shares of Unity Software Inc. (NYSE:U) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 180,421 shares of the company’s stock, valued at approximately $4,054,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of U. Encompass More Asset Management bought a new stake in shares of Unity Software during the fourth quarter valued at about $1,501,000. SteelPeak Wealth LLC purchased a new position in shares of Unity Software during the fourth quarter worth about $221,000. R Squared Ltd purchased a new position in shares of Unity Software during the fourth quarter worth about $30,000. Choreo LLC grew its holdings in shares of Unity Software by 14.0% during the fourth quarter. Choreo LLC now owns 10,940 shares of the company’s stock worth $246,000 after purchasing an additional 1,344 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. grew its holdings in shares of Unity Software by 81.8% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 4,000 shares of the company’s stock worth $90,000 after purchasing an additional 1,800 shares in the last quarter. 73.46% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director David Helgason sold 38,924 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $26.92, for a total transaction of $1,047,834.08. Following the completion of the sale, the director now owns 7,828,494 shares of the company’s stock, valued at approximately $210,743,058.48. This represents a 0.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Tomer Bar-Zeev sold 236,337 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $23.92, for a total value of $5,653,181.04. Following the sale, the director now directly owns 3,161,809 shares of the company’s stock, valued at approximately $75,630,471.28. This trade represents a 6.95% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 698,452 shares of company stock valued at $15,903,500. 6.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

U has been the subject of several recent analyst reports. Morgan Stanley cut their price objective on Unity Software from $32.00 to $25.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. UBS Group cut their price objective on Unity Software from $30.00 to $22.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Stifel Nicolaus cut their price objective on Unity Software from $35.00 to $28.00 and set a “buy” rating for the company in a report on Thursday, May 8th. Hsbc Global Res raised Unity Software to a “strong-buy” rating in a report on Friday, February 21st. Finally, Citizens Jmp raised Unity Software from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Unity Software presently has a consensus rating of “Hold” and a consensus target price of $24.21.

Unity Software Stock Up 4.7%

Shares of NYSE U opened at $21.79 on Friday. Unity Software Inc. has a one year low of $13.90 and a one year high of $30.88. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.41 and a quick ratio of 2.41. The firm’s 50 day simple moving average is $20.58 and its two-hundred day simple moving average is $22.07. The stock has a market capitalization of $9.06 billion, a P/E ratio of -12.97 and a beta of 2.29.

Unity Software (NYSE:U) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.19. The firm had revenue of $435.00 million during the quarter, compared to analyst estimates of $415.77 million. Unity Software had a negative return on equity of 13.40% and a negative net margin of 36.63%. The business’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.28 earnings per share. As a group, analysts expect that Unity Software Inc. will post -1.25 EPS for the current fiscal 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.