Cibc World Market Inc. Acquires Shares of 12,433 Unity Software Inc. $U

Cibc World Market Inc. bought a new position in Unity Software Inc. (NYSE:U) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm bought 12,433 shares of the company’s stock, valued at approximately $355,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. REAP Financial Group LLC purchased a new stake in shares of Unity Software in the fourth quarter valued at approximately $28,000. Larson Financial Group LLC boosted its stake in 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. International Assets Investment Management LLC acquired a new position in Unity Software during the fourth quarter worth $36,000. IFP Advisors Inc purchased a new stake in Unity Software in the 3rd quarter valued at $33,000. Finally, Cornerstone Planning Group LLC grew its holdings in Unity Software by 3,953.3% in the 4th quarter. Cornerstone Planning Group LLC now owns 1,216 shares of the company’s stock valued at $49,000 after buying an additional 1,186 shares in the last quarter. 73.46% of the stock is currently owned by institutional investors and hedge funds.

Unity Software Stock Down 0.2%

Unity Software stock opened at $43.40 on Friday. The company has a market capitalization of $19.10 billion, a PE ratio of -31.91, a price-to-earnings-growth ratio of 1.90 and a beta of 2.04. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.03 and a current ratio of 2.03. Unity Software Inc. has a fifty-two week low of $16.78 and a fifty-two week high of $52.15. The firm has a 50 day moving average price of $35.17 and a 200 day moving average price of $27.74.

Unity Software (NYSE:U) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.39. Unity Software had a positive return on equity of 4.64% and a negative net margin of 28.97%.The company had revenue of $546.47 million for the quarter, compared to analysts’ expectations of $514.72 million. During the same period in the prior year, the firm earned $0.18 earnings per share. The firm’s revenue was up 24.0% compared to the same quarter last year. Research analysts expect that Unity Software Inc. will post 0.55 earnings per share for the current year.

Insider Transactions at Unity Software

In related news, CFO Jarrod Yahes sold 26,017 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The stock was 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. This trade represents a 3.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Rebecca Berenice Boyden sold 1,032 shares of Unity Software stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $45.32, for a total value of $46,770.24. Following the completion of the transaction, the senior vice president directly owned 308,413 shares of the company’s stock, valued at approximately $13,977,277.16. This represents a 0.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 65,991 shares of company stock worth $2,989,081 over the last quarter. 0.77% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft upgraded Unity Software from a “hold” rating to a “buy” rating and lifted their price target for the stock from $31.00 to $50.00 in a report on Friday, August 7th. UBS Group reissued an “outperform” rating on shares of Unity Software in a report on Friday, August 7th. Wells Fargo & Company raised their price objective on shares of Unity Software from $36.00 to $48.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Weiss Ratings raised shares of Unity Software from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 4th. Finally, Bank of America upgraded shares of Unity Software from a “neutral” rating to a “buy” rating and boosted their target price for the company from $30.00 to $50.00 in a report on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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.