Oddo BHF Asset Management Sas Acquires 75,001 Shares of Unity Software Inc. $U

Key Points

• Oddo BHF Asset Management increased its stake in Unity Software by 76.8% in the fourth quarter, buying 75,001 additional shares and bringing its total holdings to 172,611 shares worth about $7.6 million.
• Institutional ownership remains high, with 73.46% of Unity Software shares held by institutional investors; several other funds also recently boosted or initiated positions.
• Wall Street sentiment is mixed but positive overall, with a consensus rating of “Moderate Buy” and an average price target of $37.71, while recent analyst targets ranged from $21 to $40 per share.

Oddo BHF Asset Management Sas raised its holdings in shares of Unity Software Inc. (NYSE:U - Free Report) by 76.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 172,611 shares of the company's stock after acquiring an additional 75,001 shares during the period. Oddo BHF Asset Management Sas' holdings in Unity Software were worth $7,624,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Unity Software by 5.9% in 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 approximately $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. grew its holdings in shares of Unity Software by 1,135.6% in the second quarter. Sei Investments Co. now owns 224,715 shares of the company's stock worth $5,438,000 after purchasing an additional 206,529 shares during the last quarter. 73.46% of the stock is currently owned by institutional investors.

Unity Software Stock Performance

Shares of U stock opened at $28.44 on Tuesday. The stock has a fifty day moving average of $26.44 and a 200 day moving average of $30.57. Unity Software Inc. has a 52 week low of $16.78 and a 52 week high of $52.15. The firm has a market capitalization of $12.42 billion, a price-to-earnings ratio of -18.12, a PEG ratio of 3.48 and a beta of 2.06. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.56.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on U shares. Bank of America raised their target price on shares of Unity Software from $19.00 to $21.00 and gave the stock a "neutral" rating in a report on Friday, March 27th. Barclays raised their target price on shares of Unity Software from $28.00 to $33.00 and gave the stock an "equal weight" rating in a report on Friday, May 8th. UBS Group raised their target price on shares of Unity Software from $26.00 to $28.00 and gave the stock a "neutral" rating in a report on Tuesday, May 5th. Piper Sandler started coverage on Unity Software in a research note on Tuesday, June 2nd. They issued an "overweight" rating and a $40.00 price target for the company. Finally, Wedbush raised their price target on Unity Software from $30.00 to $32.00 and gave the stock an "outperform" rating in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $37.71.

Insider Buying and Selling at Unity Software

In other Unity Software news, SVP Rebecca Berenice Boyden sold 952 shares of the firm's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $27.20, for a total transaction of $25,894.40. Following the completion of the transaction, the senior vice president owned 309,445 shares of the company's stock, valued at approximately $8,416,904. This trade represents a 0.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jarrod Yahes sold 24,021 shares of the firm's stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $27.18, for a total value of $652,890.78. Following the transaction, the chief financial officer directly owned 704,360 shares of the company's stock, valued at $19,144,504.80. This represents a 3.30% 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 three months, insiders have sold 198,321 shares of company stock valued at $5,390,783. 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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