Wealthfront Advisers LLC Purchases Shares of 13,199 Unity Software Inc. $U

Wealthfront Advisers LLC purchased a new position in Unity Software Inc. (NYSE:U) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 13,199 shares of the company’s stock, valued at approximately $377,000.

A number of other large investors have also modified their holdings of U. REAP Financial Group LLC acquired a new position in shares of Unity Software during the fourth quarter valued at about $28,000. Larson Financial Group LLC raised its position 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 valued at $29,000 after purchasing an additional 341 shares during the last quarter. IFP Advisors Inc acquired a new stake in Unity Software in the 3rd quarter worth approximately $33,000. International Assets Investment Management LLC acquired a new stake in Unity Software in the 4th quarter worth approximately $36,000. Finally, Cornerstone Planning Group LLC boosted its stake 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 worth $49,000 after purchasing an additional 1,186 shares in the last quarter. Hedge funds and other institutional investors own 73.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on U shares. Wells Fargo & Company upped their price target on shares of Unity Software from $36.00 to $48.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. BTIG Research lifted their price objective on shares of Unity Software from $43.00 to $51.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Piper Sandler lifted their price objective on shares of Unity Software from $45.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. HSBC raised shares of Unity Software from a “hold” rating to a “buy” rating and set a $47.10 price objective on the stock in a report on Friday, August 7th. Finally, Benchmark raised Unity Software from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research 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 given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $45.16.

Insiders Place Their Bets

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

Unity Software Price Performance

Shares of NYSE U opened at $46.90 on Friday. The business’s 50 day moving average price is $33.48 and its 200 day moving average price is $27.07. The firm has a market cap of $20.64 billion, a P/E ratio of -34.49, 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 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 issued its quarterly earnings results on Thursday, August 6th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.39. Unity Software had a negative net margin of 28.97% and a positive return on equity of 4.64%. The company had revenue of $546.47 million for the quarter, compared to the consensus estimate of $514.72 million. During the same quarter in the prior year, the company earned $0.18 EPS. Unity Software’s quarterly revenue was up 24.0% on a year-over-year basis. On average, sell-side analysts expect that Unity Software Inc. will post 0.55 earnings per share for the current 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.