Susquehanna Fundamental Investments LLC Raises Holdings in Unity Software Inc. $U

Key Points

• Susquehanna Fundamental Investments increased its Unity Software stake by 1,196.6% in the second quarter, bringing its holdings to 150,611 shares valued at approximately $4.3 million. Institutional investors collectively own 73.46% of Unity’s stock.
• Unity reported quarterly revenue of $546.47 million, up 24% year over year and above estimates, while adjusted EPS of $0.28 exceeded the consensus estimate of a $0.11 loss. Despite a negative net margin, analysts expect full-year EPS of $0.55.
• Analyst sentiment is broadly positive, with Unity carrying a “Moderate Buy” consensus rating and a $45.16 target price. Shares recently traded at $41.99, while executives sold shares primarily to cover tax withholding obligations from equity awards.

Susquehanna Fundamental Investments LLC lifted its position in Unity Software Inc. (NYSE:U - Free Report) by 1,196.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 150,611 shares of the company's stock after purchasing an additional 138,995 shares during the quarter. Susquehanna Fundamental Investments LLC's holdings in Unity Software were worth $4,304,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in U. 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 valued at $15,930,000 after purchasing an additional 45,481 shares in the last quarter. Focus Partners Wealth bought a new position in Unity Software during the first quarter valued at $260,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Unity Software by 28.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,542 shares of the company's stock worth $134,000 after buying an additional 1,241 shares during the last quarter. California Public Employees Retirement System raised its position in shares of Unity Software by 11.3% during the 2nd quarter. California Public Employees Retirement System now owns 520,774 shares of the company's stock valued at $12,603,000 after buying an additional 53,015 shares in the last quarter. Finally, Sei Investments Co. raised its position in shares of Unity Software by 1,135.6% during the 2nd quarter. Sei Investments Co. now owns 224,715 shares of the company's stock valued at $5,438,000 after buying an additional 206,529 shares in the last quarter. 73.46% of the stock is owned by institutional investors.

Unity Software Trading Down 3.0%

Shares of U opened at $41.99 on Tuesday. Unity Software Inc. has a 1-year low of $16.78 and a 1-year high of $52.15. The company has a 50-day moving average of $35.47 and a 200 day moving average of $27.83. The firm has a market capitalization of $18.48 billion, a price-to-earnings ratio of -30.87, a PEG ratio of 1.90 and a beta of 2.04. 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 earnings results on Thursday, August 6th. The company reported $0.28 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 for the quarter, compared to the consensus estimate of $514.72 million. During the same period in the prior year, the firm earned $0.18 EPS. The company's revenue for the quarter was up 24.0% compared to the same quarter last year. On average, research analysts expect that Unity Software Inc. will post 0.55 EPS for the current year.

Insider Transactions at Unity Software

In other news, SVP Rebecca Berenice Boyden sold 1,032 shares of the firm's stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $45.32, for a total transaction of $46,770.24. Following the transaction, the senior vice president owned 308,413 shares in the company, valued at approximately $13,977,277.16. This trade represents a 0.33% decrease in their ownership of the stock. The sale 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, CEO Matthew S. Bromberg sold 16,383 shares of the company's stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $45.31, for a total transaction of $742,313.73. Following the completion of the sale, the chief executive officer directly owned 1,541,131 shares of the company's stock, valued at approximately $69,828,645.61. This trade represents a 1.05% decrease in their ownership of the stock. 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. Over the last 90 days, insiders have sold 65,991 shares of company stock valued at $2,989,081. Company insiders own 0.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on U shares. Raymond James Financial began coverage on shares of Unity Software in a research report on Monday, June 29th. They set a "market perform" rating on the stock. Bank of America upgraded shares of Unity Software from a "neutral" rating to a "buy" rating and raised their target price for the stock from $30.00 to $50.00 in a report on Friday, August 7th. Deutsche Bank Aktiengesellschaft upgraded shares of Unity Software from a "hold" rating to a "buy" rating and upped their price target for the company from $31.00 to $50.00 in a report on Friday, August 7th. HSBC raised shares of Unity Software from a "hold" rating to a "buy" rating and set a $47.10 price objective on the stock in a research report on Friday, August 7th. Finally, Barclays raised their price objective 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 given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average 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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