Resolute Advisors LLC Buys 3,934,840 Shares of Unity Software Inc. $U

Key Points

• Resolute Advisors sharply increased its Unity Software stake by 473.3% in the second quarter, purchasing 3.93 million additional shares. It now owns 4.77 million shares worth approximately $136.2 million, representing 33.4% of its portfolio and 1.08% of Unity.
• Institutional investors own 73.46% of Unity’s shares, with Wellington Management, Atreides Management, Geode Capital, Norges Bank and Ameriprise among notable holders or recent buyers.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and an average price target of $45.16. Unity also exceeded quarterly earnings and revenue expectations, reporting $546.5 million in revenue, up 24% year over year, although the stock opened down 2.9% at $40.89.

Resolute Advisors LLC increased its stake in Unity Software Inc. (NYSE:U - Free Report) by 473.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,766,219 shares of the company's stock after purchasing an additional 3,934,840 shares during the period. Unity Software makes up 33.4% of Resolute Advisors LLC's holdings, making the stock its biggest holding. Resolute Advisors LLC owned 1.08% of Unity Software worth $136,219,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Wellington Management Group LLP lifted its position in Unity Software by 58.7% during the third quarter. Wellington Management Group LLP now owns 18,213,875 shares of the company's stock worth $729,284,000 after purchasing an additional 6,734,285 shares during the period. Atreides Management LP bought a new position in Unity Software in the 2nd quarter valued at about $292,826,000. Geode Capital Management LLC increased its holdings in Unity Software by 5.9% in the 4th quarter. Geode Capital Management LLC now owns 5,852,047 shares of the company's stock valued at $258,547,000 after buying an additional 328,595 shares during the period. Norges Bank acquired a new position in shares of Unity Software in the 4th quarter valued at approximately $230,285,000. Finally, Ameriprise Financial Inc. raised its position in shares of Unity Software by 37.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,628,328 shares of the company's stock valued at $112,006,000 after buying an additional 1,270,798 shares in the last quarter. Institutional investors and hedge funds own 73.46% of the company's stock.

Insider Activity at Unity Software

In related news, CEO Matthew S. Bromberg sold 16,383 shares of the firm's stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $45.31, for a total transaction of $742,313.73. Following the sale, the chief executive officer owned 1,541,131 shares of the company's stock, valued at $69,828,645.61. This trade represents a 1.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Rebecca Berenice Boyden sold 1,032 shares of the business's stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $45.32, for a total value of $46,770.24. Following the sale, the senior vice president owned 308,413 shares in the company, valued at $13,977,277.16. This represents a 0.33% 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. Insiders have sold a total of 109,547 shares of company stock valued at $4,884,202 over the last three months. 0.77% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on U. Deutsche Bank Aktiengesellschaft upgraded shares of Unity Software from a "hold" rating to a "buy" rating and increased their price target for the stock from $31.00 to $50.00 in a research report on Friday, August 7th. UBS Group restated an "outperform" rating on shares of Unity Software in a research note on Friday, August 7th. Weiss Ratings raised Unity Software from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, August 4th. Wells Fargo & Company lifted their price target on Unity Software from $36.00 to $48.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. Finally, Zacks Research raised Unity Software from a "hold" rating to a "strong-buy" rating in a report on Monday, July 13th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $45.16.

Unity Software Trading Down 2.9%

Shares of Unity Software stock opened at $40.89 on Wednesday. The firm has a market capitalization of $18.00 billion, a PE ratio of -30.07, a price-to-earnings-growth ratio of 1.84 and a beta of 2.05. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.55. The firm's 50 day moving average is $35.74 and its 200 day moving average is $27.97. 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 released its quarterly earnings data on Thursday, August 6th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $514.72 million. During the same period in the prior year, the company earned $0.18 EPS. The firm's quarterly revenue was up 24.0% compared to the same quarter last year. Equities research analysts forecast that Unity Software Inc. will post 0.55 earnings per share for the current fiscal year.

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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