AustralianSuper Pty Ltd Acquires New Stake in Unity Software Inc. $U

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

A number of other institutional investors have also recently modified their holdings of U. Jefferies Financial Group Inc. bought a new stake in shares of Unity Software in the 2nd quarter worth $205,000. Vanguard Group Inc. increased its holdings in Unity Software by 2.8% in the 3rd quarter. Vanguard Group Inc. now owns 34,556,611 shares of the company’s stock worth $1,383,647,000 after buying an additional 930,293 shares in the last quarter. Austin Wealth Management LLC bought a new stake in Unity Software in the 2nd quarter worth about $208,000. PNC Financial Services Group Inc. raised its position in Unity Software by 148.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 22,181 shares of the company’s stock worth $537,000 after buying an additional 13,245 shares during the last quarter. Finally, Broad Peak Investment Advisers Pte Ltd lifted its stake in Unity Software by 43.6% during the 3rd quarter. Broad Peak Investment Advisers Pte Ltd now owns 2,849,437 shares of the company’s stock valued at $114,091,000 after acquiring an additional 865,179 shares during the period. 73.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on U. Wall Street Zen lowered shares of Unity Software from a “buy” rating to a “hold” rating in a research note on Saturday, February 21st. Wedbush cut their target price on shares of Unity Software from $37.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday, February 12th. BTIG Research lowered their price target on Unity Software from $60.00 to $41.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. The Goldman Sachs Group cut their price objective on Unity Software from $47.00 to $27.00 and set a “neutral” rating for the company in a report on Thursday, February 12th. Finally, Benchmark reiterated a “hold” rating on shares of Unity Software in a research report on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Unity Software has an average rating of “Moderate Buy” and an average target price of $39.73.

Insiders Place Their Bets

In other news, COO Alexander Blum sold 10,164 shares of the stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $18.07, for a total value of $183,663.48. Following the completion of the sale, the chief operating officer directly owned 550,966 shares of the company’s stock, valued at $9,955,955.62. This represents a 1.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David Helgason sold 393,312 shares of the firm’s stock in a transaction 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 owned 5,439,173 shares in the company, valued at $270,000,547.72. The trade was a 6.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 933,233 shares of company stock valued at $45,387,419. Insiders own 3.61% of the company’s stock.

Unity Software Stock Performance

Shares of U opened at $20.02 on Wednesday. The business has a 50-day simple moving average of $33.45 and a two-hundred day simple moving average of $38.31. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.52. Unity Software Inc. has a 52 week low of $15.33 and a 52 week high of $52.15. The stock has a market cap of $8.67 billion, a price-to-earnings ratio of -20.85, a PEG ratio of 10.12 and a beta of 2.14.

Unity Software (NYSE:U) last posted its quarterly earnings data on Wednesday, February 11th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.04. The firm had revenue of $503.09 million for the quarter, compared to analysts’ expectations of $490.64 million. Unity Software had a negative return on equity of 4.76% and a negative net margin of 21.77%.The business’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.30) EPS. On average, analysts expect that Unity Software Inc. will post -1.25 EPS for the current 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.