Amundi Has $66.73 Million Position in Unity Software Inc. $U

Key Points

• Amundi increased its Unity Software stake by 4.7% in the second quarter, bringing its holdings to 2.33 million shares valued at approximately $66.7 million. Institutional investors collectively own 73.46% of the company.
• Analysts remain broadly positive, with Unity receiving a “Moderate Buy” consensus rating and an average price target of $45.16. Several firms recently raised their targets to between $45 and $55.
• Unity reported quarterly revenue of $546.5 million, up 24% year over year, and adjusted earnings of $0.28 per share, beating expectations. However, the company remains unprofitable on a net basis, while its CEO and CFO sold shares to cover tax obligations on vested equity awards.

Amundi raised its stake in shares of Unity Software Inc. (NYSE:U - Free Report) by 4.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,334,695 shares of the company's stock after buying an additional 105,268 shares during the period. Amundi owned about 0.53% of Unity Software worth $66,726,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of U. Newbridge Financial Services Group Inc. lifted its holdings in shares of 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 buying an additional 308 shares during the last quarter. Larson Financial Group LLC increased its holdings 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 buying an additional 341 shares during the last quarter. Swiss Life Asset Management Ltd increased its holdings in Unity Software by 3.1% in the fourth 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 raised its position in Unity Software by 2.1% during the second quarter. Captrust Financial Advisors now owns 22,330 shares of the company's stock valued at $540,000 after acquiring an additional 462 shares in the last quarter. Finally, Cibc World Market Inc. raised its position in Unity Software by 7.7% during the fourth quarter. Cibc World Market Inc. now owns 6,974 shares of the company's stock valued at $308,000 after acquiring an additional 496 shares in the last quarter. Institutional investors and hedge funds own 73.46% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on U shares. Piper Sandler boosted their target price on shares of Unity Software from $45.00 to $55.00 and gave the stock an "overweight" rating in a research report on Friday, August 7th. Citizens Jmp raised their price target on shares of Unity Software from $37.00 to $45.00 and gave the company a "market outperform" rating in a report on Friday, August 7th. Raymond James Financial initiated coverage on shares of Unity Software in a research note on Monday, June 29th. They issued a "market perform" rating for the company. Oppenheimer upped their price objective on shares of Unity Software from $38.00 to $47.00 and gave the stock an "outperform" rating in a report on Friday, August 7th. Finally, Needham & Company LLC increased their target price on shares of Unity Software from $40.00 to $54.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Unity Software has an average rating of "Moderate Buy" and a consensus target price of $45.16.

Unity Software Stock Down 0.9%

Shares of U stock opened at $42.17 on Friday. Unity Software Inc. has a 12 month low of $16.78 and a 12 month high of $52.15. The firm has a market cap of $18.56 billion, a PE ratio of -31.01, a price-to-earnings-growth ratio of 1.86 and a beta of 2.06. The stock has a 50 day moving average of $37.63 and a 200-day moving average of $29.11. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.55.

Unity Software (NYSE:U - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.28 earnings per share for the quarter, beating analysts' consensus estimates of ($0.11) by $0.39. The firm had revenue of $546.47 million during the quarter, compared to the consensus estimate of $514.72 million. Unity Software had a negative net margin of 28.97% and a positive return on equity of 4.64%. The business's revenue was up 24.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.18 EPS. On average, equities analysts predict that Unity Software Inc. will post 0.55 EPS for the current year.

Insider Transactions at Unity Software

In other Unity Software news, CEO Matthew Bromberg sold 16,383 shares of the firm's stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $45.31, for a total value of $742,313.73. Following the completion of the sale, the chief executive officer owned 1,541,131 shares in the company, valued at approximately $69,828,645.61. This trade represents a 1.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jarrod Yahes sold 26,017 shares of Unity Software stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $45.31, for a total value of $1,178,830.27. Following the sale, the chief financial officer directly owned 678,343 shares in the company, valued at $30,735,721.33. The trade was a 3.69% 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. In the last quarter, insiders sold 109,547 shares of company stock worth $4,884,202. Insiders own 0.77% of the company's stock.

About Unity Software

Unity Software Inc develops software and services for creating, operating and monetizing interactive, real-time 2D and 3D content. Its platform is widely used to build video games for mobile devices, personal computers, consoles and the web, as well as applications for industries such as automotive, architecture, engineering, construction, manufacturing and media.

The company's core offerings include the Unity Engine and related development tools, which support graphics, physics, animation, audio, scripting and deployment across multiple platforms.

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