2,187,605 Shares in Unity Software Inc. $U Acquired by Avala Global LP

Avala Global LP acquired a new stake in shares of Unity Software Inc. (NYSE:U - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,187,605 shares of the company's stock, valued at approximately $62,522,000. Unity Software makes up about 2.3% of Avala Global LP's investment portfolio, making the stock its 20th largest position. Avala Global LP owned about 0.50% of Unity Software at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Renaissance Technologies LLC acquired a new stake in shares of Unity Software during the 1st quarter valued at $54,534,000. Entropy Technologies LP acquired a new position in shares of Unity Software in the first quarter worth $1,985,000. Vanguard Group Inc. increased its stake in shares of Unity Software by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 35,553,296 shares of the company's stock worth $1,570,389,000 after acquiring an additional 996,685 shares during the last quarter. Nano Cap New Millennium Growth Fund L P acquired a new position in shares of Unity Software in the fourth quarter worth $3,710,000. Finally, Norges Bank purchased a new stake in shares of Unity Software during the fourth quarter worth $230,285,000. Institutional investors and hedge funds own 73.46% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on U shares. Citizens Jmp lifted their price objective on Unity Software from $37.00 to $45.00 and gave the company a "market outperform" rating in a research report on Friday, August 7th. Wells Fargo & Company upped their target price on Unity Software from $36.00 to $48.00 and gave the stock an "overweight" rating in a research report on Friday, August 7th. BTIG Research raised their price target on Unity Software from $43.00 to $51.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Citigroup lifted their price target on Unity Software from $40.00 to $48.00 and gave the company a "buy" rating in a report on Monday, August 10th. Finally, Piper Sandler boosted their price target on Unity Software from $45.00 to $55.00 and gave the company an "overweight" rating 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 given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $45.16.

Unity Software Price Performance

Shares of NYSE:U opened at $44.15 on Thursday. The stock has a market capitalization of $19.43 billion, a P/E ratio of -32.46, a P/E/G ratio of 1.97 and a beta of 2.04. The business has a 50-day moving average of $34.53 and a two-hundred day moving average of $27.50. Unity Software Inc. has a fifty-two week low of $16.78 and a fifty-two week high of $52.15. 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 - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.28 EPS for the quarter, beating 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 quarter in the prior year, the firm posted $0.18 EPS. The firm's revenue for the quarter was up 24.0% on a year-over-year basis. On average, equities research analysts predict that Unity Software Inc. will post 0.55 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Rebecca Berenice Boyden sold 1,032 shares of Unity Software stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $45.32, for a total value of $46,770.24. Following the transaction, the senior vice president owned 308,413 shares of the company's stock, valued at $13,977,277.16. This trade represents a 0.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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, CEO Matthew S. Bromberg sold 16,383 shares of the business's stock in a transaction on 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 sale, the chief executive officer owned 1,541,131 shares of the company's stock, valued at $69,828,645.61. The trade was a 1.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 43,432 shares of company stock valued at $1,967,914 over the last 90 days. 0.77% of the stock is currently owned by company insiders.

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.

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