Wealthfront Advisers LLC Acquires New Position in Unity Software Inc. $U

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

Other hedge funds have also added to or reduced their stakes in the company. REAP Financial Group LLC bought a new stake in shares of Unity Software during the fourth quarter valued at approximately $28,000. Larson Financial Group LLC grew its stake in Unity Software by 88.1% in the third quarter. Larson Financial Group LLC now owns 728 shares of the company’s stock worth $29,000 after purchasing an additional 341 shares in the last quarter. IFP Advisors Inc purchased a new position in Unity Software during the 3rd quarter worth $33,000. International Assets Investment Management LLC purchased a new position in Unity Software during the 4th quarter worth $36,000. Finally, Cornerstone Planning Group LLC raised its position in Unity Software by 3,953.3% during the 4th quarter. Cornerstone Planning Group LLC now owns 1,216 shares of the company’s stock valued at $49,000 after purchasing an additional 1,186 shares in the last quarter. 73.46% of the stock is currently owned by institutional investors.

Insider Activity at Unity Software

In other Unity Software news, CEO Matthew S. Bromberg sold 138,993 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $27.18, for a total transaction of $3,777,829.74. Following the completion of the sale, the chief executive officer directly owned 1,557,514 shares of the company’s stock, valued at approximately $42,333,230.52. This represents a 8.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Alexander Blum sold 2,099 shares of the firm’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $27.37, for a total transaction of $57,449.63. Following the completion of the sale, the chief operating officer owned 727,970 shares in the company, valued at $19,924,538.90. This represents a 0.29% decrease in their ownership of the stock. 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 198,321 shares of company stock valued at $5,390,783 over the last 90 days. Company insiders own 0.77% of the company’s stock.

Unity Software Stock Up 0.8%

Unity Software stock opened at $46.90 on Friday. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.55. 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. The business has a fifty day moving average of $33.48 and a two-hundred day moving average of $27.07. Unity Software Inc. has a twelve month low of $16.78 and a twelve month high of $52.15.

Unity Software (NYSE:U) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.39. The business had revenue of $546.47 million for the quarter, compared to the consensus estimate of $514.72 million. Unity Software had a positive return on equity of 4.64% and a negative net margin of 28.97%.The business’s revenue was up 24.0% compared to the same quarter last year. During the same period last year, the business posted $0.18 EPS. On average, analysts forecast that Unity Software Inc. will post 0.55 earnings per share for the current fiscal year.

Analyst Ratings Changes

U has been the subject of several research reports. BTIG Research upped their target price on Unity Software from $43.00 to $51.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft upgraded Unity Software from a “hold” rating to a “buy” rating and raised their price target for the company from $31.00 to $50.00 in a research note on Friday, August 7th. Wedbush lifted their price objective on Unity Software from $32.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday, July 22nd. HSBC raised shares of Unity Software from a “hold” rating to a “buy” rating and set a $47.10 price objective for the company in a research note on Friday, August 7th. Finally, Wells Fargo & Company increased their target price on shares of Unity Software from $36.00 to $48.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.