Corient Private Wealth LLC Invests $355,000 in Unity Software Inc. $U

Corient Private Wealth LLC acquired a new stake in Unity Software Inc. (NYSE:U) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 14,642 shares of the company’s stock, valued at approximately $355,000.

Several other institutional investors have also added to or reduced their stakes in the company. Jefferies Financial Group Inc. acquired a new position in shares of Unity Software during the 2nd quarter worth $205,000. Forum Financial Management LP bought a new position in Unity Software in the second quarter valued at about $256,000. Austin Wealth Management LLC acquired a new position in Unity Software during the second quarter worth about $208,000. PNC Financial Services Group Inc. raised its stake in Unity Software by 148.2% during the second quarter. PNC Financial Services Group Inc. now owns 22,181 shares of the company’s stock worth $537,000 after acquiring an additional 13,245 shares in the last quarter. Finally, State of Wyoming bought a new position in shares of Unity Software in the second quarter worth about $721,000. 73.46% of the stock is currently owned by institutional investors and hedge funds.

Unity Software Stock Performance

NYSE U opened at $45.11 on Wednesday. The company has a market capitalization of $19.30 billion, a price-to-earnings ratio of -42.96 and a beta of 2.04. The company has a quick ratio of 2.78, a current ratio of 2.78 and a debt-to-equity ratio of 0.70. Unity Software Inc. has a twelve month low of $15.33 and a twelve month high of $52.15. The stock has a fifty day simple moving average of $41.99 and a 200 day simple moving average of $37.70.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on U shares. Arete Research raised shares of Unity Software from a “neutral” rating to a “buy” rating and set a $48.00 price target on the stock in a report on Monday, December 1st. Macquarie raised shares of Unity Software from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $33.00 to $50.00 in a research note on Friday, November 7th. Barclays increased their price target on Unity Software from $30.00 to $35.00 and gave the company an “equal weight” rating in a research note on Thursday, November 6th. Deutsche Bank Aktiengesellschaft started coverage on Unity Software in a research report on Wednesday, October 22nd. They set a “hold” rating and a $39.00 price objective on the stock. Finally, Citigroup increased their target price on Unity Software from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Tuesday, November 11th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.04.

Insider Buying and Selling

In other news, Director Tomer Bar-Zeev sold 250,000 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $37.98, for a total value of $9,495,000.00. Following the sale, the director directly owned 1,298,146 shares of the company’s stock, valued at approximately $49,303,585.08. This represents a 16.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Matthew S. Bromberg sold 41,025 shares of the stock in a transaction 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 sale, the chief executive officer owned 1,192,541 shares of the company’s stock, valued at approximately $49,347,346.58. This trade represents a 3.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,651,471 shares of company stock valued at $75,307,029 over the last 90 days. 3.61% of the stock is currently owned by corporate insiders.

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.