Great Lakes Advisors LLC Invests $3.15 Million in Unity Software Inc. $U

Great Lakes Advisors LLC purchased a new position in shares of Unity Software Inc. (NYSE:U) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 110,305 shares of the company’s stock, valued at approximately $3,153,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. REAP Financial Group LLC acquired a new position in Unity Software in the 4th quarter valued at $28,000. Larson Financial Group LLC lifted its stake in shares of Unity Software by 88.1% in the 3rd quarter. Larson Financial Group LLC now owns 728 shares of the company’s stock worth $29,000 after acquiring an additional 341 shares during the period. IFP Advisors Inc purchased a new stake in shares of Unity Software in the third quarter valued at about $33,000. International Assets Investment Management LLC purchased a new stake in shares of Unity Software in the fourth quarter valued at about $36,000. Finally, Cornerstone Planning Group LLC increased its stake in shares of Unity Software by 3,953.3% during the fourth quarter. Cornerstone Planning Group LLC now owns 1,216 shares of the company’s stock worth $49,000 after acquiring an additional 1,186 shares during the period. 73.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

U has been the subject of several analyst reports. Piper Sandler increased their price target on shares of Unity Software from $45.00 to $55.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Citizens Jmp boosted their target price on Unity Software from $37.00 to $45.00 and gave the stock a “market outperform” rating in a research report on Friday, August 7th. Wall Street Zen raised Unity Software from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. HSBC raised Unity Software from a “hold” rating to a “buy” rating and set a $47.10 price target for the company in a report on Friday, August 7th. Finally, UBS Group reaffirmed an “outperform” rating on shares of Unity Software in a report on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Unity Software has an average rating of “Moderate Buy” and a consensus target price of $45.16.

Insider Activity

In other Unity Software news, CEO Matthew S. Bromberg sold 138,993 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $27.18, for a total transaction of $3,777,829.74. Following the completion of the transaction, the chief executive officer owned 1,557,514 shares of the company’s stock, valued at approximately $42,333,230.52. This trade represents a 8.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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 firm’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 $652,890.78. Following the transaction, the chief financial officer directly owned 704,360 shares of the company’s stock, valued at $19,144,504.80. The trade was a 3.30% decrease in their position. 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. Over the last three months, insiders sold 198,321 shares of company stock worth $5,390,783. 0.77% of the stock is owned by corporate insiders.

Unity Software Price Performance

Unity Software stock opened at $46.45 on Friday. The firm has a market capitalization of $20.44 billion, a PE ratio of -34.15, a P/E/G ratio of 2.06 and a beta of 2.04. Unity Software Inc. has a 52 week low of $16.78 and a 52 week high of $52.15. The firm’s 50-day simple moving average is $33.09 and its 200 day simple moving average is $26.93. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.55.

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 the consensus estimate of ($0.11) by $0.39. The firm 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 firm’s revenue for the quarter was up 24.0% on a year-over-year basis. During the same period last year, the firm posted $0.18 EPS. On average, equities research analysts predict that Unity Software Inc. will post 0.55 EPS for the current fiscal year.

Unity Software 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.