Unity Software Inc. $U Holdings Boosted by Vanguard Group Inc.

Vanguard Group Inc. raised its position in shares of Unity Software Inc. (NYSE:U) by 2.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,556,611 shares of the company’s stock after purchasing an additional 930,293 shares during the quarter. Vanguard Group Inc. owned 8.18% of Unity Software worth $1,383,647,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Slate Path Capital LP grew its holdings in shares of Unity Software by 25.4% during the second quarter. Slate Path Capital LP now owns 20,016,952 shares of the company’s stock valued at $484,410,000 after buying an additional 4,048,484 shares in the last quarter. Norges Bank acquired a new stake in Unity Software during the 2nd quarter worth about $151,221,000. Geode Capital Management LLC boosted its position in Unity Software by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 5,064,703 shares of the company’s stock worth $122,587,000 after acquiring an additional 36,105 shares during the period. Ameriprise Financial Inc. grew its stake in Unity Software by 37.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,628,328 shares of the company’s stock valued at $112,006,000 after acquiring an additional 1,270,798 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in Unity Software by 8.8% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,017,147 shares of the company’s stock valued at $73,015,000 after acquiring an additional 243,990 shares in the last quarter. Institutional investors and hedge funds own 73.46% of the company’s stock.

Unity Software Stock Performance

U stock opened at $18.23 on Friday. The firm has a 50 day moving average of $37.16 and a two-hundred day moving average of $39.08. Unity Software Inc. has a 12 month low of $15.33 and a 12 month high of $52.15. The company has a market capitalization of $7.89 billion, a price-to-earnings ratio of -18.98, a P/E/G ratio of 9.92 and a beta of 2.04. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.52.

Unity Software (NYSE:U) last released its quarterly earnings results on Wednesday, February 11th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.04. The business had revenue of $503.09 million for the quarter, compared to the consensus estimate of $490.64 million. Unity Software had a negative net margin of 21.77% and a negative return on equity of 4.76%. Unity Software’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter last year, the firm earned ($0.30) EPS. As a group, equities analysts anticipate that Unity Software Inc. will post -1.25 EPS for the current fiscal year.

Insiders Place Their Bets

In other Unity Software news, CEO Matthew S. Bromberg sold 41,025 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $41.38, for a total transaction of $1,697,614.50. Following the completion of the sale, the chief executive officer owned 1,192,541 shares of the company’s stock, valued at $49,347,346.58. This represents a 3.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Tomer Bar-Zeev sold 250,000 shares of Unity Software stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $41.93, for a total transaction of $10,482,500.00. Following the completion of the transaction, the director directly owned 1,048,146 shares in the company, valued at approximately $43,948,761.78. This represents a 19.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 1,337,204 shares of company stock worth $63,108,672 in the last three months. 3.61% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on U shares. Benchmark reissued a “hold” rating on shares of Unity Software in a research report on Monday, February 2nd. Wall Street Zen downgraded shares of Unity Software from a “buy” rating to a “hold” rating in a research report on Saturday. Piper Sandler raised shares of Unity Software from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $43.00 to $59.00 in a research note on Thursday, December 11th. Jefferies Financial Group upped their price target on shares of Unity Software from $49.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, January 5th. Finally, The Goldman Sachs Group cut their price objective on Unity Software from $47.00 to $27.00 and set a “neutral” rating for the company in a report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $39.52.

Unity Software Profile

Unity Software is a leading provider of a real-time 3D development platform that enables creators across industries to design, build and operate interactive, real-time experiences. Originally focused on the game development market, Unity’s technology now extends into sectors such as film, automotive, architecture, engineering and construction, delivering immersive content for mobile, desktop, console, augmented reality and virtual reality devices. The company’s core offering comprises a suite of authoring tools, runtime engines and cloud services that streamline the creation and deployment of interactive 3D applications.

The Unity Editor serves as the central hub where developers design scenes, script behavior and iterate on assets.