AustralianSuper Pty Ltd Invests $7.45 Million in Unity Software Inc. $U

AustralianSuper Pty Ltd acquired a new position in shares of Unity Software Inc. (NYSE:U) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 185,962 shares of the company’s stock, valued at approximately $7,446,000.

Several other institutional investors have also recently bought and sold shares of U. Jefferies Financial Group Inc. bought a new stake in Unity Software in the 2nd quarter valued at $205,000. Forum Financial Management LP bought a new stake in Unity Software in the second quarter valued at about $256,000. Austin Wealth Management LLC bought a new stake in Unity Software in the second quarter valued at about $208,000. PNC Financial Services Group Inc. raised its position in Unity Software by 148.2% in the second quarter. PNC Financial Services Group Inc. now owns 22,181 shares of the company’s stock worth $537,000 after purchasing an additional 13,245 shares in the last quarter. Finally, Broad Peak Investment Advisers Pte Ltd lifted its stake in Unity Software by 43.6% during the third quarter. Broad Peak Investment Advisers Pte Ltd now owns 2,849,437 shares of the company’s stock worth $114,091,000 after purchasing an additional 865,179 shares during the period. Institutional investors own 73.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on U shares. Deutsche Bank Aktiengesellschaft began coverage on Unity Software in a research note on Wednesday, October 22nd. They issued a “hold” rating and a $39.00 price objective on the stock. UBS Group upped their price target on Unity Software from $35.00 to $40.00 and gave the company a “neutral” rating in a research report on Monday, October 20th. Barclays lifted their price objective on Unity Software from $30.00 to $35.00 and gave the company an “equal weight” rating in a report on Thursday, November 6th. BTIG Research upgraded shares of Unity Software from a “neutral” rating to a “buy” rating and set a $60.00 target price on the stock in a research note on Thursday, December 11th. Finally, Wells Fargo & Company increased their target price on shares of Unity Software from $51.00 to $54.00 and gave the stock an “overweight” rating in a research report on Thursday, January 8th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Unity Software currently has an average rating of “Moderate Buy” and a consensus target price of $45.27.

Insider Buying and Selling

In other news, CFO Jarrod Yahes sold 34,719 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $41.38, for a total transaction of $1,436,672.22. Following the transaction, the chief financial officer directly owned 573,871 shares in the company, valued at approximately $23,746,781.98. This represents a 5.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David Helgason sold 393,312 shares of the stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $49.64, for a total transaction of $19,524,007.68. Following the sale, the director directly owned 5,439,173 shares in the company, valued at $270,000,547.72. This trade represents a 6.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 1,647,935 shares of company stock valued at $75,174,498. Insiders own 3.61% of the company’s stock.

Unity Software Price Performance

Shares of U stock opened at $38.39 on Friday. Unity Software Inc. has a 52 week low of $15.33 and a 52 week high of $52.15. The stock has a market capitalization of $16.43 billion, a PE ratio of -36.56, a PEG ratio of 42.10 and a beta of 2.04. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.78 and a current ratio of 2.78. The stock’s fifty day moving average is $44.18 and its 200-day moving average is $40.25.

Unity Software (NYSE:U) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. Unity Software had a negative return on equity of 9.45% and a negative net margin of 24.15%.The business had revenue of $470.62 million during the quarter, compared to analysts’ expectations of $452.87 million. During the same period in the previous year, the business posted ($0.31) earnings per share. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. Equities research analysts expect that Unity Software Inc. will post -1.25 EPS for the current fiscal year.

About Unity Software

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.