SteelPeak Wealth LLC Purchases 12,957 Shares of Unity Software Inc. $U

SteelPeak Wealth LLC bought a new position in shares of Unity Software Inc. (NYSE:U) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 12,957 shares of the company’s stock, valued at approximately $530,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Avail Investment Partners LLC purchased a new position in shares of Unity Software in the third quarter valued at $201,000. V Square Quantitative Management LLC grew its stake in Unity Software by 14.6% in the 3rd quarter. V Square Quantitative Management LLC now owns 2,329 shares of the company’s stock worth $95,000 after acquiring an additional 297 shares during the period. Assenagon Asset Management S.A. increased its stake in Unity Software by 9,886.8% in the third quarter. Assenagon Asset Management S.A. now owns 2,645,007 shares of the company’s stock valued at $108,260,000 after purchasing an additional 2,618,522 shares during the last quarter. Curated Wealth Partners LLC acquired a new position in shares of Unity Software during the 3rd quarter valued at about $539,000. Finally, Fortitude Family Office LLC raised its stake in Unity Software by 56.1% during the third quarter. Fortitude Family Office LLC now owns 840 shares of the company’s stock worth $34,000 after purchasing an additional 302 shares during the period. Institutional investors and hedge funds own 73.46% of the company’s stock.

Unity Software Trading Up 0.6%

Shares of NYSE U opened at $40.64 on Tuesday. 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 52 week low of $16.78 and a 52 week high of $52.15. The business has a 50 day simple moving average of $43.53 and a 200 day simple moving average of $33.63. The stock has a market cap of $17.88 billion, a price-to-earnings ratio of -29.88, a PEG ratio of 1.77 and a beta of 2.11.

Unity Software (NYSE:U) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.28 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $514.72 million. During the same quarter last year, the company posted $0.18 earnings per share. The company’s revenue for the quarter was up 24.0% compared to the same quarter last year. On average, research analysts predict that Unity Software Inc. will post 0.55 earnings per share for the current fiscal year.

Insider Buying and Selling at Unity Software

In other news, CEO Matthew S. Bromberg sold 16,383 shares of the firm’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $45.31, for a total value of $742,313.73. Following the completion of the sale, the chief executive officer directly owned 1,541,131 shares in the company, valued at approximately $69,828,645.61. This trade represents a 1.05% decrease in their ownership of the stock. The sale was disclosed in a 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, CFO Jarrod Yahes sold 26,017 shares of the business’s stock in a transaction that occurred on 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 owned 678,343 shares of the company’s stock, valued at $30,735,721.33. This trade represents a 3.69% 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. Insiders have sold a total of 109,547 shares of company stock valued at $4,884,202 in the last 90 days. Insiders own 0.77% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Jefferies Financial Group increased their price objective on shares of Unity Software from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, October 8th. Citizens Jmp lifted their price target on shares of Unity Software from $37.00 to $45.00 and gave the stock a “market outperform” rating in a research note on Friday, August 7th. Deutsche Bank Aktiengesellschaft raised Unity Software from a “hold” rating to a “buy” rating and increased their target price for the stock from $31.00 to $50.00 in a report on Friday, August 7th. Morgan Stanley increased their price objective on shares of Unity Software from $50.00 to $55.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 13th. Finally, HSBC raised shares of 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. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $48.01.

Unity Software Company Profile

Unity Software Inc develops software and services for creating, operating and monetizing interactive, real-time content. Its core product is the Unity engine, a development platform used to build video games and experiences for mobile devices, personal computers, consoles, augmented and virtual reality systems, and other platforms.

The company also provides tools and services that support the development and operation of interactive applications, including collaboration and cloud-based development tools, multiplayer and voice communication capabilities, analytics, advertising, and in-app monetization solutions.