Empowered Funds LLC Acquires New Shares in Unity Software Inc. $U

Key Points

• Empowered Funds LLC acquired 28,224 Unity Software shares worth approximately $807,000 during the second quarter. Institutional investors collectively own 73.46% of the company.
• Unity reported quarterly revenue of $546.47 million, up 24% year over year, and adjusted earnings of $0.28 per share, exceeding analyst expectations. Analysts expect the company to post $0.55 in EPS for the current fiscal year.
• Analyst sentiment remains positive, with several firms upgrading Unity to “buy” or “strong buy”; the stock has a consensus “Moderate Buy” rating and an average price target of $45.16.

Empowered Funds LLC acquired 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 Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 28,224 shares of the company's stock, valued at approximately $807,000.

Several other large investors have also added to or reduced their stakes in the stock. REAP Financial Group LLC bought a new stake in shares of Unity Software during the fourth quarter valued at about $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 bought a new position in shares of Unity Software in the third quarter valued at approximately $33,000. International Assets Investment Management LLC purchased a new position in Unity Software during the fourth quarter valued at approximately $36,000. Finally, Summit Securities Group LLC purchased a new position in Unity Software during the first quarter valued at approximately $54,000. Institutional investors own 73.46% of the company's stock.

Insider Activity at Unity Software

In other news, CEO Matthew Bromberg sold 16,383 shares of Unity Software stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $45.31, for a total transaction of $742,313.73. Following the completion of the sale, the chief executive officer directly owned 1,541,131 shares of the company's stock, valued at approximately $69,828,645.61. The trade was a 1.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 company's stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $45.32, for a total transaction of $46,770.24. Following the completion of the transaction, the senior vice president owned 308,413 shares of the company's stock, valued at $13,977,277.16. This trade represents 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. In the last 90 days, insiders have sold 109,547 shares of company stock worth $4,884,202. Corporate insiders own 0.77% of the company's stock.

Unity Software Trading Down 1.1%

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

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

Analyst Ratings Changes

U has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft raised shares of Unity Software from a "hold" rating to a "buy" rating and upped their target price for the stock from $31.00 to $50.00 in a report on Friday, August 7th. Zacks Research upgraded shares of Unity Software from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 13th. HSBC raised shares of Unity Software from a "hold" rating to a "buy" rating and set a $47.10 price target on the stock in a report on Friday, August 7th. Bank of America upgraded Unity Software from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $30.00 to $50.00 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 investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Unity Software 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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