California State Teachers Retirement System Has $8.06 Million Holdings in Unity Software Inc. $U

Key Points

• California State Teachers Retirement System increased its Unity Software stake by 22.2% in the first quarter, acquiring 66,785 additional shares. Its holdings totaled 367,521 shares worth approximately $8.06 million.
• Institutional investors own 73.46% of Unity Software, while insiders own 0.77%. Several executives sold shares recently to cover tax withholding obligations tied to vested equity awards.
• Analysts maintain a generally positive outlook, with Unity carrying a consensus “Moderate Buy” rating and an average price target of $38.49, compared with the reported share price of $35.22.

California State Teachers Retirement System boosted its stake in Unity Software Inc. (NYSE:U - Free Report) by 22.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 367,521 shares of the company's stock after buying an additional 66,785 shares during the quarter. California State Teachers Retirement System owned approximately 0.08% of Unity Software worth $8,063,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of U. REAP Financial Group LLC acquired a new stake in shares of Unity Software during the fourth quarter worth approximately $28,000. Larson Financial Group LLC lifted its position in shares of Unity Software by 88.1% during 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. V Square Quantitative Management LLC acquired a new position in Unity Software during the 4th quarter worth $30,000. IFP Advisors Inc acquired a new position in shares of Unity Software during the third quarter valued at $33,000. Finally, International Assets Investment Management LLC bought a new stake in Unity Software during the 4th quarter worth about $36,000. 73.46% of the stock is currently owned by institutional investors.

Insider Activity at Unity Software

In other news, COO Alexander Blum sold 2,099 shares of the company's stock in a transaction on Thursday, May 28th. The stock was 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 directly owned 727,970 shares in the company, valued at approximately $19,924,538.90. This represents a 0.29% decrease in their position. The transaction was disclosed in a legal 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, CAO Mark Barrysmith sold 13,247 shares of the business's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $27.18, for a total value of $360,053.46. Following the completion of the transaction, the chief accounting officer directly owned 370,654 shares of the company's stock, valued at approximately $10,074,375.72. This trade represents a 3.45% decrease in their position. 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. In the last ninety days, insiders have sold 198,321 shares of company stock valued at $5,390,783. 0.77% of the stock is currently owned by insiders.

Unity Software Price Performance

Shares of U opened at $35.22 on Wednesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.95 and a current ratio of 1.95. Unity Software Inc. has a 52-week low of $16.78 and a 52-week high of $52.15. The stock has a 50 day simple moving average of $29.52 and a 200 day simple moving average of $26.63. The firm has a market capitalization of $15.38 billion, a PE ratio of -22.43, a P/E/G ratio of 3.95 and a beta of 2.04.

Analyst Upgrades and Downgrades

U has been the topic of several analyst reports. UBS Group increased their price objective on shares of Unity Software from $28.00 to $32.00 and gave the company a "neutral" rating in a report on Monday. Needham & Company LLC upped their target price on shares of Unity Software from $35.00 to $40.00 and gave the company a "buy" rating in a research report on Friday, May 8th. Weiss Ratings reissued a "sell (e+)" rating on shares of Unity Software in a research note on Friday, July 17th. Wedbush lifted their price objective on Unity Software from $32.00 to $36.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 22nd. Finally, Barclays upped their price objective on Unity Software from $28.00 to $33.00 and gave the company an "equal weight" rating in a report on Friday, May 8th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Unity Software currently has a consensus rating of "Moderate Buy" and a consensus target price of $38.49.

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.

Want to see what other hedge funds are holding U? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Unity Software Inc. (NYSE:U - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source