Primecap Management Co. CA Makes New Investment in Unity Software Inc. $U

Primecap Management Co. CA purchased a new stake in Unity Software Inc. (NYSE:U) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 152,710 shares of the company’s stock, valued at approximately $4,364,000.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in 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 in the last quarter. Wellington Management Group LLP increased its position in shares of Unity Software by 58.7% in the third 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 during the period. Geode Capital Management LLC raised its stake in Unity Software by 5.9% in the fourth quarter. Geode Capital Management LLC now owns 5,852,047 shares of the company’s stock valued at $258,547,000 after purchasing an additional 328,595 shares in the last quarter. Norges Bank acquired a new position in Unity Software in the fourth quarter valued at about $230,285,000. Finally, Ameriprise Financial Inc. lifted its position in Unity Software by 37.8% during the second quarter. Ameriprise Financial Inc. now owns 4,628,328 shares of the company’s stock worth $112,006,000 after purchasing an additional 1,270,798 shares during the period. Institutional investors and hedge funds own 73.46% of the company’s stock.

Insider Activity at Unity Software

In related news, SVP Rebecca Berenice Boyden sold 1,032 shares of the stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $45.32, for a total value of $46,770.24. Following the completion of the transaction, the senior vice president owned 308,413 shares of the company’s stock, valued at $13,977,277.16. This represents a 0.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 firm’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $45.31, for a total transaction of $742,313.73. Following the completion of the sale, the chief executive officer owned 1,541,131 shares in the company, valued at $69,828,645.61. This represents a 1.05% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 43,432 shares of company stock valued at $1,967,914. 0.77% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on U shares. Wells Fargo & Company increased their price objective on shares of Unity Software from $36.00 to $48.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Deutsche Bank Aktiengesellschaft raised shares of Unity Software from a “hold” rating to a “buy” rating and upped their price target for the stock from $31.00 to $50.00 in a report on Friday, August 7th. Benchmark upgraded shares of Unity Software from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Friday, August 7th. Zacks Research raised shares of Unity Software from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 13th. Finally, Oppenheimer boosted their price objective on shares of Unity Software from $38.00 to $47.00 and gave the company an “outperform” rating in a research report on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $45.16.

Unity Software Stock Performance

Unity Software stock opened at $44.15 on Thursday. Unity Software Inc. has a 12-month low of $16.78 and a 12-month high of $52.15. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.55. The business’s 50-day moving average price is $34.53 and its two-hundred day moving average price is $27.50. The stock has a market cap of $19.43 billion, a PE ratio of -32.46, a P/E/G ratio of 1.97 and a beta of 2.04.

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