Legal & General Group Plc Makes New $8.01 Million Investment in Unity Software Inc. $U

Legal & General Group Plc purchased a new position in shares of Unity Software Inc. (NYSE:U) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 280,127 shares of the company’s stock, valued at approximately $8,006,000.

Several other institutional investors have also modified their holdings of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position 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 valued at $15,930,000 after acquiring an additional 45,481 shares during the last quarter. Focus Partners Wealth acquired a new stake in Unity Software during the first quarter worth about $260,000. Northwestern Mutual Wealth Management Co. raised its stake in Unity Software by 28.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,542 shares of the company’s stock worth $134,000 after purchasing an additional 1,241 shares during the period. California Public Employees Retirement System raised its stake 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 worth $12,603,000 after purchasing an additional 53,015 shares during the period. Finally, Sei Investments Co. boosted its holdings in Unity Software by 1,135.6% in the 2nd 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 last quarter. Hedge funds and other institutional investors own 73.46% of the company’s stock.

Insider Buying and Selling at Unity Software

In other Unity Software news, COO Alexander Blum sold 43,556 shares of the stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $43.51, for a total transaction of $1,895,121.56. Following the sale, the chief operating officer directly owned 661,855 shares in the company, valued at $28,797,311.05. This represents a 6.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew S. Bromberg sold 16,383 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $45.31, for a total transaction of $742,313.73. Following the completion of the transaction, the chief executive officer directly owned 1,541,131 shares of the company’s stock, valued at $69,828,645.61. This represents a 1.05% 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. Insiders sold 109,547 shares of company stock valued at $4,884,202 in the last 90 days. Corporate insiders own 0.77% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on U. Citigroup raised their price target on shares of Unity Software from $40.00 to $48.00 and gave the stock a “buy” rating in a report 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 on the stock. Deutsche Bank Aktiengesellschaft upgraded Unity Software from a “hold” rating to a “buy” rating and increased their price objective for the stock from $31.00 to $50.00 in a research report on Friday, August 7th. Zacks Research upgraded Unity Software from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 13th. Finally, Benchmark raised Unity Software from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research note 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $45.16.

Unity Software Stock Performance

Shares of Unity Software stock opened at $40.89 on Wednesday. The stock has a market capitalization of $18.00 billion, a price-to-earnings ratio of -30.07, a price-to-earnings-growth ratio of 1.84 and a beta of 2.05. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.03 and a quick ratio of 2.03. The business has a 50-day moving average of $35.74 and a 200 day moving average of $27.97. Unity Software Inc. has a 12 month low of $16.78 and a 12 month high of $52.15.

Unity Software (NYSE:U) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.28 earnings per share (EPS) 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 business had revenue of $546.47 million for the quarter, compared to analysts’ expectations of $514.72 million. During the same quarter in the prior year, the company earned $0.18 earnings per share. The business’s quarterly revenue was up 24.0% on a year-over-year basis. As a group, sell-side analysts forecast that Unity Software Inc. will post 0.55 earnings per share for the current year.

About Unity Software

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.