HB Wealth Management LLC Has $7.85 Million Stock Position in Unity Software Inc. $U

Key Points

• HB Wealth Management increased its Unity Software stake by 10.8% in the second quarter, bringing its holdings to 274,554 shares valued at approximately $7.85 million. Institutional investors and hedge funds collectively own 73.46% of the company.
• Unity reported stronger-than-expected quarterly results, with EPS of $0.28 versus analyst estimates of a $0.11 loss and revenue of $546.47 million, up 24% year over year. Analysts project full-year EPS of $0.55.
• Wall Street maintains a generally positive view, with Unity carrying a consensus “Moderate Buy” rating and a $45.16 target price. The stock recently traded at $41.63, while insiders have sold shares primarily to cover tax obligations on vested equity awards.

HB Wealth Management LLC boosted its holdings in Unity Software Inc. (NYSE:U - Free Report) by 10.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 274,554 shares of the company's stock after buying an additional 26,762 shares during the period. HB Wealth Management LLC owned approximately 0.06% of Unity Software worth $7,847,000 as of its most recent SEC filing.

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

Unity Software Stock Performance

Shares of NYSE:U opened at $41.63 on Monday. The business's fifty day moving average price is $36.58 and its two-hundred day moving average price is $28.44. Unity Software Inc. has a fifty-two week low of $16.78 and a fifty-two week high of $52.15. The stock has a market capitalization of $18.32 billion, a price-to-earnings 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 current ratio of 2.03 and a quick ratio of 2.03.

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

Insider Activity

In other news, SVP Rebecca Boyden sold 1,032 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the senior vice president owned 308,413 shares of the company's stock, valued at approximately $13,977,277.16. This trade represents a 0.33% decrease in their ownership of the stock. The transaction was disclosed in a 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, CFO Jarrod Yahes sold 26,017 shares of Unity Software stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $45.31, for a total transaction of $1,178,830.27. Following the completion of the transaction, the chief financial officer owned 678,343 shares of the company's stock, valued at $30,735,721.33. This trade represents a 3.69% decrease in their position. 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 90 days, insiders have sold 109,547 shares of company stock worth $4,884,202. Company insiders own 0.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on U shares. Zacks Research upgraded Unity Software from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 13th. Piper Sandler lifted their price target on shares of Unity Software from $45.00 to $55.00 and gave the stock an "overweight" rating in a research note on Friday, August 7th. Weiss Ratings raised shares of Unity Software from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, August 4th. Benchmark raised shares of Unity Software from a "hold" rating to a "buy" rating and set a $50.00 price objective for the company in a report on Friday, August 7th. Finally, Wedbush upped their target price on shares of Unity Software from $32.00 to $36.00 and gave the company an "outperform" rating in a research note on Wednesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus 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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