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

SteelPeak Wealth LLC purchased a new position in Unity Software Inc. (NYSE:U) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 12,957 shares of the company’s stock, valued at approximately $530,000.

Other institutional investors also recently bought and sold shares of the company. Atreides Management LP bought a new stake in shares of Unity Software in the second quarter worth approximately $292,826,000. Resolute Advisors LLC lifted its holdings in Unity Software by 473.3% during the second quarter. Resolute Advisors LLC now owns 4,766,219 shares of the company’s stock valued at $136,219,000 after purchasing an additional 3,934,840 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Unity Software by 52.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,245,014 shares of the company’s stock worth $93,089,000 after buying an additional 1,465,962 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of Unity Software by 9,886.8% during the third quarter. Assenagon Asset Management S.A. now owns 2,645,007 shares of the company’s stock worth $108,260,000 after purchasing an additional 2,618,522 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Unity Software during the first quarter valued at approximately $54,534,000. 73.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on U shares. Deutsche Bank Aktiengesellschaft raised Unity Software from a “hold” rating to a “buy” rating and upped their price objective for the stock from $31.00 to $50.00 in a report on Friday, August 7th. Benchmark raised shares of Unity Software from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research note on Friday, August 7th. Oppenheimer restated an “outperform” rating on shares of Unity Software in a report on Thursday, October 8th. BTIG Research boosted their price target on Unity Software from $51.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday, October 9th. Finally, Wall Street Zen upgraded shares of Unity Software from a “hold” rating to a “buy” rating in a research note on Monday, October 12th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $48.01.

Insider Activity at Unity Software

In related news, CEO Matthew S. Bromberg sold 16,383 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The stock was 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 in the company, valued at $69,828,645.61. This trade represents a 1.05% decrease in their position. The sale was disclosed in a legal 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, SVP Rebecca Boyden sold 1,032 shares of the business’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $45.32, for a total transaction of $46,770.24. Following the completion of the transaction, the senior vice president owned 308,413 shares of the company’s stock, valued at approximately $13,977,277.16. This trade represents a 0.33% 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. Over the last ninety days, insiders sold 109,547 shares of company stock worth $4,884,202. 0.77% of the stock is owned by corporate insiders.

Unity Software Stock Performance

Shares of NYSE:U opened at $40.64 on Tuesday. Unity Software Inc. has a 1 year low of $16.78 and a 1 year high of $52.15. The firm has a market capitalization of $17.88 billion, a PE ratio of -29.88, a P/E/G ratio of 1.77 and a beta of 2.11. The business’s 50 day moving average price is $43.53 and its 200-day moving average price is $33.63. 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 issued its 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 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 analysts’ expectations of $514.72 million. During the same period in the previous year, the firm posted $0.18 EPS. The business’s revenue for the quarter was up 24.0% compared to the same quarter last year. As a group, equities research analysts expect that Unity Software Inc. will post 0.55 earnings per share for the current fiscal year.

About Unity Software

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.