Edgestream Partners L.P. Invests $1.01 Million in Unity Software Inc. $U

Key Points

• Edgestream Partners initiated a $1.01 million position in Unity Software, purchasing 45,862 shares during the first quarter. Institutional investors collectively own 73.46% of the company.
• Unity shares were trading at $33.44, up 5.5%, with the stock ranging from $16.78 to $52.15 over the past year. Analysts maintain a consensus “Moderate Buy” rating and an average price target of $38.49.
• Several analysts recently raised their price targets, including Piper Sandler to $45 and BTIG Research to $43. Meanwhile, Unity insiders sold shares largely to cover tax obligations tied to vested equity awards.

Edgestream Partners L.P. purchased a new position in shares of Unity Software Inc. (NYSE:U - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 45,862 shares of the company's stock, valued at approximately $1,006,000.

Other large investors also recently bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Unity Software by 5.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 813,176 shares of the company's stock worth $15,930,000 after purchasing an additional 45,481 shares during the last quarter. Focus Partners Wealth bought a new position in shares of Unity Software in the first quarter worth about $260,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Unity Software by 28.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,542 shares of the company's stock worth $134,000 after purchasing an additional 1,241 shares during the last quarter. California Public Employees Retirement System grew its holdings in shares of Unity Software by 11.3% in the second quarter. California Public Employees Retirement System now owns 520,774 shares of the company's stock worth $12,603,000 after purchasing an additional 53,015 shares during the last quarter. Finally, Sei Investments Co. increased its stake in Unity Software by 1,135.6% in the 2nd quarter. Sei Investments Co. now owns 224,715 shares of the company's stock worth $5,438,000 after buying an additional 206,529 shares during the period. Hedge funds and other institutional investors own 73.46% of the company's stock.

Unity Software Stock Up 5.5%

NYSE:U opened at $33.44 on Tuesday. Unity Software Inc. has a 1-year low of $16.78 and a 1-year high of $52.15. The company has a 50-day moving average of $29.35 and a 200 day moving average of $26.68. The firm has a market cap of $14.60 billion, a PE ratio of -21.30, a price-to-earnings-growth ratio of 3.75 and a beta of 2.04. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.95 and a quick ratio of 1.95.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on U shares. UBS Group lifted 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. Piper Sandler reaffirmed an "overweight" rating and set a $45.00 target price (up from $40.00) on shares of Unity Software in a research report on Thursday, July 30th. BTIG Research lifted their price target on shares of Unity Software from $39.00 to $43.00 and gave the company a "buy" rating in a research note on Thursday, May 7th. Wedbush boosted their price target on Unity Software from $32.00 to $36.00 and gave the company an "outperform" rating in a report on Wednesday, July 22nd. Finally, Needham & Company LLC increased their price objective on Unity Software from $35.00 to $40.00 and gave the stock a "buy" rating in a research note on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $38.49.

Insider Buying and Selling at Unity Software

In other news, CFO Jarrod Yahes sold 24,021 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 $652,890.78. Following the completion of the sale, the chief financial officer owned 704,360 shares in the company, valued at approximately $19,144,504.80. The trade was a 3.30% decrease in their position. 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, CAO Mark Barrysmith sold 13,247 shares of the company's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $27.18, for a total transaction of $360,053.46. Following the completion of the sale, the chief accounting officer directly owned 370,654 shares of the company's stock, valued at $10,074,375.72. The trade was a 3.45% 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 ninety days, insiders have sold 198,321 shares of company stock worth $5,390,783. 0.77% of the stock is currently owned by company insiders.

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.

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