Quantinno Capital Management LP Has $8.92 Million Stock Position in Unity Software Inc. $U

Key Points

• Quantinno Capital Management increased its Unity Software stake by 81.3% in the first quarter, ending with 406,560 shares worth approximately $8.92 million. Institutional investors collectively own 73.46% of Unity’s stock.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of $38.49. Recent targets include $45 from Piper Sandler and $32 from UBS, which maintained a neutral rating.
• Unity shares opened at $35.22, with a market capitalization of about $15.38 billion. Company insiders own 0.77% of the stock, while recent insider sales were primarily conducted to cover tax obligations tied to vested equity awards.

Quantinno Capital Management LP lifted its holdings in shares of Unity Software Inc. (NYSE:U - Free Report) by 81.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 406,560 shares of the company's stock after acquiring an additional 182,324 shares during the period. Quantinno Capital Management LP owned approximately 0.09% of Unity Software worth $8,920,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Renaissance Technologies LLC purchased a new position in shares of Unity Software during the first quarter valued at approximately $54,534,000. Entropy Technologies LP purchased a new stake in Unity Software in the 1st quarter valued at $1,985,000. Massachusetts Financial Services Co. MA raised its position in Unity Software by 9.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,905,820 shares of the company's stock valued at $128,350,000 after buying an additional 252,648 shares during the last quarter. FengHe Fund Management Pte. Ltd. lifted its stake in Unity Software by 287.0% during the 4th quarter. FengHe Fund Management Pte. Ltd. now owns 1,732,002 shares of the company's stock valued at $76,503,000 after acquiring an additional 1,284,400 shares in the last quarter. Finally, KBC Group NV lifted its stake in Unity Software by 511.9% during the 4th quarter. KBC Group NV now owns 51,960 shares of the company's stock valued at $2,295,000 after acquiring an additional 43,468 shares in the last quarter. Institutional investors and hedge funds own 73.46% of the company's stock.

Insiders Place Their Bets

In other news, CFO Jarrod Yahes sold 24,021 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $27.18, for a total transaction of $652,890.78. Following the completion of 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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 firm's stock in a transaction that occurred 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 sale, the senior vice president owned 309,445 shares of the company's stock, valued at approximately $8,416,904. The trade was a 0.31% 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. In the last quarter, insiders have sold 198,321 shares of company stock valued at $5,390,783. Company insiders own 0.77% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on U. UBS Group upped their target price on shares of Unity Software from $28.00 to $32.00 and gave the stock a "neutral" rating in a research note on Monday. Piper Sandler reissued an "overweight" rating and set a $45.00 price target (up from $40.00) on shares of Unity Software in a research report on Thursday, July 30th. Raymond James Financial began coverage on shares of Unity Software in a report on Monday, June 29th. They set a "market perform" rating on the stock. Barclays increased their price objective on shares of 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, Zacks Research raised shares of Unity Software from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 13th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $38.49.

Unity Software Price Performance

Shares of NYSE:U opened at $35.22 on Wednesday. The company has a market capitalization of $15.38 billion, a P/E ratio of -22.43, a price-to-earnings-growth ratio of 3.95 and a beta of 2.04. The company's 50-day moving average is $29.52 and its 200 day moving average is $26.63. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.95 and a current ratio of 1.95. Unity Software Inc. has a fifty-two week low of $16.78 and a fifty-two week high of $52.15.

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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