EFG International AG Takes $7.38 Million Position in Unity Software Inc. $U

EFG International AG bought a new position in shares of Unity Software Inc. (NYSE:U - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 258,419 shares of the company's stock, valued at approximately $7,384,000. EFG International AG owned 0.06% of Unity Software at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. REAP Financial Group LLC acquired a new position in Unity Software in the 4th quarter valued at $28,000. Larson Financial Group LLC boosted 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 acquiring an additional 341 shares during the period. IFP Advisors Inc acquired a new position in shares of Unity Software in the third quarter valued at about $33,000. International Assets Investment Management LLC acquired a new position in shares of Unity Software in the fourth quarter valued at about $36,000. Finally, Cornerstone Planning Group LLC grew its stake in shares of Unity Software by 3,953.3% in the fourth quarter. Cornerstone Planning Group LLC now owns 1,216 shares of the company's stock valued at $49,000 after acquiring an additional 1,186 shares in the last quarter. 73.46% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, COO Alexander Blum sold 2,099 shares of the business'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 sale, the chief operating officer owned 727,970 shares in the company, valued at $19,924,538.90. The trade was a 0.29% decrease in their position. The sale was disclosed in a legal filing 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. 0.77% of the stock is owned by corporate insiders.

Unity Software Stock Down 2.3%

U stock opened at $45.12 on Wednesday. The firm has a 50-day moving average price of $34.18 and a 200-day moving average price of $27.35. Unity Software Inc. has a 12 month low of $16.78 and a 12 month high of $52.15. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $19.86 billion, a P/E ratio of -33.18, a price-to-earnings-growth ratio of 2.02 and a beta of 2.04.

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, topping analysts' consensus estimates of ($0.11) by $0.39. The business had revenue of $546.47 million during the quarter, compared to analysts' expectations of $514.72 million. Unity Software had a negative net margin of 28.97% and a positive return on equity of 4.64%. The firm's quarterly revenue was up 24.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.18 EPS. As a group, equities research analysts anticipate that Unity Software Inc. will post 0.55 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on U. HSBC upgraded shares of Unity Software from a "hold" rating to a "buy" rating and set a $47.10 price objective for the company in a research note on Friday, August 7th. 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. Piper Sandler raised their target price on shares of Unity Software from $45.00 to $55.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. Barclays boosted their price target on Unity Software from $28.00 to $33.00 and gave the company an "equal weight" rating in a research note on Friday, May 8th. Finally, UBS Group reissued an "outperform" rating on shares of Unity Software in a research report on Friday, August 7th. Two 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 issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $45.16.

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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