Pallas Capital Advisors LLC Buys Shares of 19,966 Unity Software Inc. $U

Pallas Capital Advisors LLC bought a new position in shares of Unity Software Inc. (NYSE:U) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 19,966 shares of the company’s stock, valued at approximately $571,000.

Several other institutional investors also recently modified their holdings of U. Vanguard Group Inc. lifted its stake in shares of Unity Software by 2.9% in the 4th quarter. Vanguard Group Inc. now owns 35,553,296 shares of the company’s stock valued at $1,570,389,000 after acquiring an additional 996,685 shares during the last quarter. Wellington Management Group LLP increased its holdings in Unity Software by 58.7% in the 3rd quarter. Wellington Management Group LLP now owns 18,213,875 shares of the company’s stock worth $729,284,000 after purchasing an additional 6,734,285 shares in the last quarter. Geode Capital Management LLC increased its holdings in Unity Software by 5.9% in the 4th quarter. Geode Capital Management LLC now owns 5,852,047 shares of the company’s stock worth $258,547,000 after purchasing an additional 328,595 shares in the last quarter. Norges Bank bought a new position in Unity Software in the fourth quarter valued at about $230,285,000. Finally, Ameriprise Financial Inc. raised its position in Unity Software by 37.8% in the second quarter. Ameriprise Financial Inc. now owns 4,628,328 shares of the company’s stock valued at $112,006,000 after purchasing an additional 1,270,798 shares during the last quarter. 73.46% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Unity Software news, CEO Matthew S. Bromberg sold 138,993 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $27.18, for a total transaction of $3,777,829.74. Following the completion of the transaction, the chief executive officer owned 1,557,514 shares in the company, valued at approximately $42,333,230.52. This trade represents a 8.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Mark Barrysmith sold 13,247 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $27.18, for a total transaction of $360,053.46. Following the completion of the transaction, the chief accounting officer owned 370,654 shares in the company, valued at $10,074,375.72. This trade represents a 3.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 198,321 shares of company stock valued at $5,390,783 over the last three months. Insiders own 0.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Citigroup lifted their price target on Unity Software from $40.00 to $48.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Weiss Ratings upgraded shares of Unity Software from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 4th. Barclays lifted their target price on shares of Unity Software from $28.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. HSBC raised shares of Unity Software from a “hold” rating to a “buy” rating and set a $47.10 target price on the stock in a report on Friday, August 7th. Finally, BTIG Research upped their price target on shares of Unity Software from $43.00 to $51.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $45.16.

Unity Software Stock Up 0.9%

Shares of U opened at $47.14 on Thursday. The stock’s 50-day moving average price is $32.69 and its two-hundred day moving average price is $26.81. Unity Software Inc. has a 12 month low of $16.78 and a 12 month high of $52.15. The company has a market capitalization of $20.75 billion, a PE ratio of -34.66, a PEG ratio of 2.05 and a beta of 2.04. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.55.

Unity Software (NYSE:U) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.39. Unity Software had a positive return on equity of 4.64% and a negative net margin of 28.97%.The company had revenue of $546.47 million during the quarter, compared to analysts’ expectations of $514.72 million. During the same quarter in the prior year, the firm posted $0.18 earnings per share. The business’s quarterly revenue was up 24.0% on a year-over-year basis. On average, analysts anticipate that Unity Software Inc. will post 0.55 EPS for the current year.

Unity Software Company 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.