Resolute Advisors LLC Acquires 3,934,840 Shares of Unity Software Inc. $U

Resolute Advisors LLC boosted its holdings in shares of Unity Software Inc. (NYSE:U) by 473.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,766,219 shares of the company’s stock after acquiring an additional 3,934,840 shares during the quarter. Unity Software accounts for about 33.4% of Resolute Advisors LLC’s portfolio, making the stock its largest position. Resolute Advisors LLC’s holdings in Unity Software were worth $136,219,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. REAP Financial Group LLC bought a new position in shares of Unity Software during the fourth quarter valued at $28,000. Larson Financial Group LLC grew its stake in shares of Unity Software by 88.1% in the third quarter. Larson Financial Group LLC now owns 728 shares of the company’s stock worth $29,000 after purchasing an additional 341 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of Unity Software in the fourth quarter worth $36,000. IFP Advisors Inc acquired a new stake in Unity Software in the third quarter valued at $33,000. Finally, Los Angeles Capital Management LLC acquired a new stake in Unity Software in the fourth quarter valued at $68,000. 73.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on U. Weiss Ratings raised Unity Software from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 4th. Bank of America raised Unity Software from a “neutral” rating to a “buy” rating and increased their price target for the company from $30.00 to $50.00 in a research note on Friday, August 7th. Citizens Jmp raised their price objective on Unity Software from $37.00 to $45.00 and gave the stock a “market outperform” rating in a research report on Friday, August 7th. Oppenheimer lifted their price objective on Unity Software from $38.00 to $47.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th. Finally, BTIG Research upped their target price on Unity Software from $43.00 to $51.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Unity Software currently has an average rating of “Moderate Buy” and a consensus target price of $45.16.

Insiders Place Their Bets

In other news, SVP Rebecca Berenice Boyden sold 1,032 shares of the business’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $45.32, for a total value of $46,770.24. Following the transaction, the senior vice president directly owned 308,413 shares of the company’s stock, valued at $13,977,277.16. The trade was a 0.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Matthew S. Bromberg sold 16,383 shares of the company’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $45.31, for a total value of $742,313.73. Following the sale, the chief executive officer owned 1,541,131 shares in the company, valued at approximately $69,828,645.61. The trade was a 1.05% 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. In the last quarter, insiders sold 109,547 shares of company stock valued at $4,884,202. Insiders own 0.77% of the company’s stock.

Unity Software Price Performance

Shares of NYSE U opened at $40.89 on Wednesday. Unity Software Inc. has a twelve month low of $16.78 and a twelve month high of $52.15. The firm has a fifty day simple moving average of $35.74 and a 200 day simple moving average of $27.97. The company has a market capitalization of $18.00 billion, a PE ratio of -30.07, a P/E/G ratio of 1.84 and a beta of 2.05. The company has a quick ratio of 2.03, a current 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 EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.39. The business had revenue of $546.47 million for the quarter, compared to analysts’ expectations of $514.72 million. Unity Software had a negative net margin of 28.97% and a positive return on equity of 4.64%. The business’s quarterly revenue was up 24.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.18 earnings per share. On average, sell-side analysts forecast 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.