Vanguard Group Inc. Has $1.38 Billion Stock Holdings in Unity Software Inc. $U

Vanguard Group Inc. boosted its holdings in shares of Unity Software Inc. (NYSE:U) by 2.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 34,556,611 shares of the company’s stock after purchasing an additional 930,293 shares during the quarter. Vanguard Group Inc. owned approximately 0.08% of Unity Software worth $1,383,647,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Root Financial Partners LLC bought a new position in Unity Software in the 3rd quarter worth approximately $27,000. Atlantic Union Bankshares Corp acquired a new stake in shares of Unity Software in the second quarter worth $28,000. Salem Investment Counselors Inc. bought a new position in Unity Software during the third quarter worth $40,000. Allworth Financial LP raised its stake in Unity Software by 28.4% during the 2nd quarter. Allworth Financial LP now owns 1,865 shares of the company’s stock valued at $45,000 after purchasing an additional 412 shares during the last quarter. Finally, Roxbury Financial LLC acquired a new position in Unity Software during the 3rd quarter valued at $60,000. Institutional investors and hedge funds own 73.46% of the company’s stock.

Analyst Upgrades and Downgrades

U has been the topic of several research analyst reports. The Goldman Sachs Group decreased their price target on shares of Unity Software from $47.00 to $27.00 and set a “neutral” rating on the stock in a research report on Thursday, February 12th. Piper Sandler upgraded shares of Unity Software from a “neutral” rating to an “overweight” rating and increased their target price for the company from $43.00 to $59.00 in a research note on Thursday, December 11th. Wedbush lowered their price target on Unity Software from $37.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday, February 12th. Macquarie Infrastructure raised Unity Software from a “neutral” rating to an “outperform” rating and upped their price target for the company from $33.00 to $50.00 in a report on Friday, November 7th. Finally, Arete Research upgraded Unity Software from a “neutral” rating to a “buy” rating and set a $48.00 price objective for the company in a research report on Monday, December 1st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $39.52.

Unity Software Stock Performance

NYSE:U opened at $18.23 on Friday. The firm has a market capitalization of $7.89 billion, a PE ratio of -18.98, a price-to-earnings-growth ratio of 9.92 and a beta of 2.04. 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 12-month low of $15.33 and a 12-month high of $52.15. The firm has a 50-day moving average price of $37.16 and a 200 day moving average price of $39.08.

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

Insider Activity at Unity Software

In other news, CFO Jarrod Yahes sold 34,719 shares of the business’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $41.38, for a total value of $1,436,672.22. Following the sale, the chief financial officer owned 573,871 shares in the company, valued at approximately $23,746,781.98. The trade was a 5.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Matthew S. Bromberg sold 41,025 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 1,192,541 shares in the company, valued at approximately $49,347,346.58. The trade was a 3.33% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 1,337,204 shares of company stock valued at $63,108,672. Insiders own 3.61% of the company’s stock.

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.