Corient Private Wealth LP Takes Position in Unity Software Inc. $U

Key Points

• Corient Private Wealth acquired 27,260 Unity Software shares in the second quarter, valued at approximately $779,000. Institutional investors collectively own 73.46% of Unity’s stock.
• Unity reported quarterly revenue of $546.47 million, up 24% year over year, and adjusted earnings of $0.28 per share, beating analyst expectations of a loss of $0.11 per share.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $45.16; several firms recently upgraded the stock or raised their targets.

Corient Private Wealth LP acquired a new position in shares of Unity Software Inc. (NYSE:U - Free Report) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 27,260 shares of the company's stock, valued at approximately $779,000.

Several other large investors have also made changes to their positions in U. REAP Financial Group LLC purchased a new stake in Unity Software during the fourth quarter valued at about $28,000. Larson Financial Group LLC raised its holdings in shares of Unity Software by 88.1% in the 3rd quarter. Larson Financial Group LLC now owns 728 shares of the company's stock worth $29,000 after purchasing an additional 341 shares during the period. IFP Advisors Inc acquired a new position in shares of Unity Software in the 3rd quarter valued at about $33,000. International Assets Investment Management LLC acquired a new position in shares of Unity Software in the 4th quarter valued at about $36,000. Finally, Summit Securities Group LLC purchased a new stake in shares of Unity Software during the 1st quarter worth about $54,000. 73.46% of the stock is owned by hedge funds and other institutional investors.

Unity Software Price Performance

U stock opened at $41.63 on Friday. The firm has a market cap of $18.32 billion, a P/E ratio of -30.61, a price-to-earnings-growth ratio of 1.82 and a beta of 2.06. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.03 and a current ratio of 2.03. Unity Software Inc. has a 1 year low of $16.78 and a 1 year high of $52.15. The stock has a 50-day simple moving average of $36.58 and a 200-day simple moving average of $28.37.

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

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. HSBC raised shares of Unity Software from a "hold" rating to a "buy" rating and set a $47.10 target price for the company in a research report on Friday, August 7th. Deutsche Bank Aktiengesellschaft raised shares of Unity Software from a "hold" rating to a "buy" rating and lifted their price target for the company from $31.00 to $50.00 in a research report on Friday, August 7th. Citizens Jmp boosted their price objective on shares of Unity Software from $37.00 to $45.00 and gave the stock a "market outperform" rating in a research note on Friday, August 7th. Needham & Company LLC increased their price objective 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. Finally, UBS Group reissued an "outperform" rating on shares of Unity Software in a research note on Friday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $45.16.

Insider Activity

In other news, CEO Matthew S. Bromberg sold 16,383 shares of the company's stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $45.31, for a total value 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 approximately $69,828,645.61. This represents a 1.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 firm's stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $45.32, for a total transaction of $46,770.24. Following the sale, the senior vice president directly owned 308,413 shares of the company's stock, valued at approximately $13,977,277.16. The trade was a 0.33% decrease in their ownership of the stock. 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 have sold 109,547 shares of company stock worth $4,884,202. Company insiders own 0.77% of the company's stock.

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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