Pasadena Private Wealth LLC Takes $2.04 Million Position in Unity Software Inc. $U

Pasadena Private Wealth LLC acquired a new position in Unity Software Inc. (NYSE:U) during the second quarter, Holdings Channel reports. The institutional investor acquired 71,428 shares of the company’s stock, valued at approximately $2,041,000.

Other large investors have also made changes to their positions in the company. Newbridge Financial Services Group Inc. grew its holdings in Unity Software by 12.9% in the 3rd quarter. Newbridge Financial Services Group Inc. now owns 2,696 shares of the company’s stock valued at $108,000 after buying an additional 308 shares during the last quarter. Larson Financial Group LLC lifted its holdings in shares of Unity Software by 88.1% during 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 during the last quarter. Swiss Life Asset Management Ltd boosted its position in shares of Unity Software by 3.1% in the fourth quarter. Swiss Life Asset Management Ltd now owns 14,861 shares of the company’s stock valued at $656,000 after acquiring an additional 449 shares during the period. Captrust Financial Advisors boosted its position in shares of Unity Software by 2.1% in the second quarter. Captrust Financial Advisors now owns 22,330 shares of the company’s stock valued at $540,000 after acquiring an additional 462 shares during the period. Finally, M&T Bank Corp grew its stake in shares of Unity Software by 1.9% in the fourth quarter. M&T Bank Corp now owns 25,745 shares of the company’s stock worth $1,137,000 after acquiring an additional 468 shares during the last quarter. Institutional investors and hedge funds own 73.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on U shares. Zacks Research upgraded shares of Unity Software from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 13th. HSBC upgraded shares of Unity Software from a “hold” rating to a “buy” rating and set a $47.10 price target on the stock in a research report on Friday, August 7th. Citigroup upped their price objective on shares of Unity Software from $40.00 to $48.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Needham & Company LLC increased their target price on shares of Unity Software from $40.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Finally, BTIG Research lifted their target price on Unity Software from $43.00 to $51.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Two investment 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 assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $45.16.

Unity Software Price Performance

NYSE:U opened at $47.14 on Thursday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.03 and a current ratio of 2.03. The company has a 50-day moving average of $32.69 and a 200-day moving average of $26.81. Unity Software Inc. has a 52 week low of $16.78 and a 52 week high of $52.15. The company has a market capitalization of $20.75 billion, a price-to-earnings ratio of -34.66, a PEG ratio of 2.05 and a beta of 2.04.

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

Insider Buying and Selling at Unity Software

In related news, CAO Mark Barrysmith sold 13,247 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $27.18, for a total value of $360,053.46. Following the sale, the chief accounting officer owned 370,654 shares of the company’s stock, valued at $10,074,375.72. The trade was a 3.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jarrod Yahes sold 24,021 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $27.18, for a total value of $652,890.78. Following the transaction, the chief financial officer owned 704,360 shares of the company’s stock, valued at $19,144,504.80. This represents a 3.30% decrease in their ownership of the stock. 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. Insiders have sold 198,321 shares of company stock worth $5,390,783 over the last three months. 0.77% of the stock is currently owned by insiders.

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.