Quantbot Technologies LP Makes New $2.94 Million Investment in Unity Software Inc. $U

Key Points

• Quantbot Technologies bought 102,740 Unity Software shares worth approximately $2.94 million during the second quarter. Institutional investors and hedge funds collectively own 73.46% of the company.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of $45.16; several firms recently raised their targets.
• Unity reported quarterly EPS of $0.28, beating expectations of a $0.11 loss, while revenue rose 24% year over year to $546.47 million. The stock opened at $46.90, compared with a 52-week range of $16.78 to $52.15.

Quantbot Technologies LP purchased 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 institutional investor purchased 102,740 shares of the company's stock, valued at approximately $2,936,000.

Other institutional investors also recently bought and sold shares of the company. Evolve Private Wealth LLC acquired a new position in shares of Unity Software during the second quarter valued at approximately $455,000. Westpac Banking Corp acquired a new stake in shares of Unity Software in the second quarter worth approximately $179,000. Landscape Capital Management L.L.C. acquired a new stake in shares of Unity Software in the second quarter worth approximately $803,000. Rakuten Securities Inc. purchased a new stake in shares of Unity Software during the second quarter worth approximately $85,000. Finally, Ieq Capital LLC purchased a new stake in shares of Unity Software during the second quarter worth approximately $14,795,000. 73.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on U. Needham & Company LLC raised their price objective on Unity Software from $40.00 to $54.00 and gave the company a "buy" rating in a report on Friday, August 7th. Zacks Research raised shares of Unity Software from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 13th. Wedbush boosted their price target on shares of Unity Software from $32.00 to $36.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 22nd. UBS Group reaffirmed an "outperform" rating on shares of Unity Software in a research note on Friday, August 7th. Finally, 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 research note on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $45.16.

Insider Activity

In related news, 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 value of $360,053.46. Following the transaction, the chief accounting officer directly owned 370,654 shares in the company, valued at approximately $10,074,375.72. This represents a 3.45% decrease in their ownership of the stock. 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 Berenice Boyden sold 952 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $27.20, for a total value 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 $8,416,904. The trade was a 0.31% 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 quarter, insiders have sold 198,321 shares of company stock worth $5,390,783. 0.77% of the stock is owned by company insiders.

Unity Software Stock Down 0.1%

NYSE U opened at $46.90 on Monday. The business's fifty day simple moving average is $33.48 and its 200-day simple moving average is $27.06. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.55. The firm has a market cap of $20.64 billion, a PE ratio of -34.49, a P/E/G ratio of 2.06 and a beta of 2.04. Unity Software Inc. has a 52 week low of $16.78 and a 52 week high of $52.15.

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 the consensus estimate of ($0.11) by $0.39. The firm 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%. Unity Software's revenue was up 24.0% compared to the same quarter last year. During the same period last year, the business earned $0.18 earnings per share. As a group, equities analysts anticipate that Unity Software Inc. will post 0.55 earnings per share for the current year.

About Unity Software

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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