Equitable Holdings Inc. Acquires New Stake in Unity Software Inc. $U

Equitable Holdings Inc. acquired a new stake in Unity Software Inc. (NYSE:U) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 14,114 shares of the company’s stock, valued at approximately $403,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. REAP Financial Group LLC acquired a new stake in shares of Unity Software in the fourth quarter valued at about $28,000. Larson Financial Group LLC lifted 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 buying an additional 341 shares in the last quarter. IFP Advisors Inc acquired a new position in Unity Software during the third quarter worth about $33,000. International Assets Investment Management LLC acquired a new position in Unity Software during the fourth quarter worth about $36,000. Finally, Cornerstone Planning Group LLC grew its stake in Unity Software by 3,953.3% during the 4th quarter. Cornerstone Planning Group LLC now owns 1,216 shares of the company’s stock valued at $49,000 after acquiring an additional 1,186 shares in the last quarter. Institutional investors and hedge funds own 73.46% of the company’s stock.

Unity Software Stock Performance

NYSE:U opened at $43.40 on Monday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.03 and a quick ratio of 2.03. The firm has a market capitalization of $19.10 billion, a price-to-earnings ratio of -31.91, a PEG ratio of 1.90 and a beta of 2.04. The company’s 50-day moving average is $35.17 and its two-hundred day moving average is $27.74. Unity Software Inc. has a 1-year low of $16.78 and a 1-year high of $52.15.

Unity Software (NYSE:U) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.39. The business had revenue of $546.47 million during the quarter, compared to the consensus estimate 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 revenue was up 24.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.18 EPS. Analysts forecast that Unity Software Inc. will post 0.55 EPS for the current year.

Insiders Place Their Bets

In related news, COO Alexander Blum sold 20,595 shares of the business’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 $933,159.45. Following the sale, the chief operating officer directly owned 707,375 shares in the company, valued at approximately $32,051,161.25. The trade was a 2.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jarrod Yahes sold 26,017 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 transaction of $1,178,830.27. Following the completion of the transaction, the chief financial officer directly owned 678,343 shares in the company, valued at $30,735,721.33. The trade was a 3.69% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 65,991 shares of company stock valued at $2,989,081. 0.77% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

U has been the subject of a number of recent research reports. Weiss Ratings upgraded shares of Unity Software from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 4th. UBS Group restated an “outperform” rating on shares of Unity Software in a report on Friday, August 7th. BTIG Research upped their price target on Unity Software from $43.00 to $51.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Citizens Jmp increased their price target on Unity Software from $37.00 to $45.00 and gave the company a “market outperform” rating in a report on Friday, August 7th. Finally, Deutsche Bank Aktiengesellschaft raised Unity Software from a “hold” rating to a “buy” rating and increased their price target for the company from $31.00 to $50.00 in a report on Friday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $45.16.

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.