94,623 Shares in Unity Software Inc. $U Bought by Silvant Capital Management LLC

Key Points

• Silvant Capital Management purchased 94,623 shares of Unity Software in the second quarter, valued at approximately $2.7 million. Institutional investors collectively own 73.46% of the company.
• Unity reported quarterly revenue of $546.47 million, up 24% year over year and above expectations, while adjusted EPS of $0.28 beat estimates by $0.39.
• Analyst sentiment has improved, with several firms upgrading Unity to “buy” and raising price targets; the stock carries a consensus “Moderate Buy” rating and a $45.16 target price.

Silvant Capital Management LLC purchased a new stake in Unity Software Inc. (NYSE:U - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 94,623 shares of the company's stock, valued at approximately $2,704,000.

Several other institutional investors also recently modified their holdings of the company. Newbridge Financial Services Group Inc. lifted its holdings in Unity Software by 12.9% during the 3rd quarter. Newbridge Financial Services Group Inc. now owns 2,696 shares of the company's stock valued at $108,000 after purchasing an additional 308 shares during the last quarter. Larson Financial Group LLC raised its position in shares of Unity Software by 88.1% in the third quarter. Larson Financial Group LLC now owns 728 shares of the company's stock valued at $29,000 after purchasing an additional 341 shares during the period. Swiss Life Asset Management Ltd lifted its stake in shares of Unity Software by 3.1% during the 4th quarter. Swiss Life Asset Management Ltd now owns 14,861 shares of the company's stock worth $656,000 after buying an additional 449 shares during the last quarter. Captrust Financial Advisors boosted its holdings in shares of Unity Software by 2.1% during the 2nd quarter. Captrust Financial Advisors now owns 22,330 shares of the company's stock worth $540,000 after buying an additional 462 shares during the period. Finally, M&T Bank Corp grew its stake in Unity Software by 1.9% in the 4th quarter. M&T Bank Corp now owns 25,745 shares of the company's stock valued at $1,137,000 after buying an additional 468 shares during the last quarter. 73.46% of the stock is currently owned by institutional investors and hedge funds.

Unity Software Price Performance

Unity Software stock opened at $46.45 on Friday. The stock has a 50-day moving average price of $33.09 and a two-hundred day moving average price of $26.93. Unity Software Inc. has a 12 month low of $16.78 and a 12 month high of $52.15. The company has a market capitalization of $20.44 billion, a PE ratio of -34.15, a P/E/G ratio of 2.06 and a beta of 2.04. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.55.

Unity Software (NYSE:U - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.28 earnings per share (EPS) for the quarter, beating 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 company had revenue of $546.47 million during the quarter, compared to the consensus estimate of $514.72 million. During the same quarter in the prior year, the firm posted $0.18 earnings per share. The firm's revenue was up 24.0% compared to the same quarter last year. Analysts expect that Unity Software Inc. will post 0.55 EPS for the current year.

Insider Buying and Selling

In related news, CFO Jarrod Yahes sold 24,021 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $27.18, for a total value of $652,890.78. Following the completion of the sale, the chief financial officer directly owned 704,360 shares in the company, valued at $19,144,504.80. This represents a 3.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Mark Barrysmith sold 13,247 shares of Unity Software stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $27.18, for a total value of $360,053.46. Following the transaction, the chief accounting officer directly owned 370,654 shares in the company, valued at $10,074,375.72. The trade was a 3.45% 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 have sold a total of 198,321 shares of company stock valued at $5,390,783 over the last quarter. 0.77% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Piper Sandler boosted their price objective on Unity Software from $45.00 to $55.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. Deutsche Bank Aktiengesellschaft upgraded Unity Software from a "hold" rating to a "buy" rating and increased their target price for the stock from $31.00 to $50.00 in a research note on Friday, August 7th. BTIG Research lifted their price target on Unity Software from $43.00 to $51.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Benchmark upgraded 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. Finally, Bank of America raised Unity Software from a "neutral" rating to a "buy" rating and upped their price objective for the company from $30.00 to $50.00 in a report on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $45.16.

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.

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