Evolve Private Wealth LLC Makes New Investment in Unity Software Inc. $U

Evolve Private Wealth LLC bought a new stake in Unity Software Inc. (NYSE:U) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 15,914 shares of the company’s stock, valued at approximately $455,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Unity Software by 5.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 813,176 shares of the company’s stock worth $15,930,000 after purchasing an additional 45,481 shares during the last quarter. Focus Partners Wealth bought a new stake in shares of Unity Software in the 1st quarter worth approximately $260,000. Northwestern Mutual Wealth Management Co. lifted its stake in Unity Software by 28.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,542 shares of the company’s stock valued at $134,000 after purchasing an additional 1,241 shares during the last quarter. California Public Employees Retirement System grew its holdings in Unity Software by 11.3% during the second quarter. California Public Employees Retirement System now owns 520,774 shares of the company’s stock valued at $12,603,000 after purchasing an additional 53,015 shares during the period. Finally, Sei Investments Co. grew its holdings in Unity Software by 1,135.6% during the second quarter. Sei Investments Co. now owns 224,715 shares of the company’s stock valued at $5,438,000 after purchasing an additional 206,529 shares during the period. 73.46% of the stock is owned by institutional investors.

Insider Activity at Unity Software

In related news, COO Alexander Blum sold 2,099 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $27.37, for a total value of $57,449.63. Following the transaction, the chief operating officer owned 727,970 shares of the company’s stock, valued at $19,924,538.90. This represents a 0.29% 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. 0.77% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Wedbush boosted their target price on Unity Software from $32.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday, July 22nd. Citigroup increased their price target on Unity Software from $40.00 to $48.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Raymond James Financial assumed coverage on Unity Software in a report on Monday, June 29th. They issued a “market perform” rating for the company. Bank of America upgraded Unity Software from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $30.00 to $50.00 in a research note on Friday, August 7th. Finally, UBS Group reaffirmed an “outperform” rating on shares of Unity Software in a report on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $45.16.

Unity Software Stock Performance

NYSE U opened at $45.12 on Wednesday. The stock has a market capitalization of $19.86 billion, a PE ratio of -33.18, a P/E/G ratio of 2.02 and a beta of 2.04. Unity Software Inc. has a 1 year low of $16.78 and a 1 year high of $52.15. The company’s 50 day simple moving average is $34.18 and its two-hundred day simple moving average is $27.35. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.03 and a quick ratio of 2.03.

Unity Software (NYSE:U) last announced its earnings results on Thursday, August 6th. The company reported $0.28 earnings per share 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 business had revenue of $546.47 million for the quarter, compared to analyst estimates of $514.72 million. During the same period in the prior year, the company earned $0.18 EPS. The company’s quarterly revenue was up 24.0% compared to the same quarter last year. Analysts predict that Unity Software Inc. will post 0.55 earnings per share 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.