Unity Software Inc. $U Shares Sold by Beaconlight Capital LLC

Beaconlight Capital LLC reduced its stake in Unity Software Inc. (NYSE:U - Free Report) by 38.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 212,475 shares of the company's stock after selling 132,834 shares during the period. Unity Software accounts for about 2.1% of Beaconlight Capital LLC's holdings, making the stock its 14th biggest position. Beaconlight Capital LLC's holdings in Unity Software were worth $6,073,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Wellington Management Group LLP boosted its stake in Unity Software by 58.7% during the 3rd 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 purchased a new stake in shares of Unity Software during the second quarter worth approximately $292,826,000. Geode Capital Management LLC lifted its stake in shares of Unity Software by 5.9% in the 4th quarter. Geode Capital Management LLC now owns 5,852,047 shares of the company's stock worth $258,547,000 after acquiring an additional 328,595 shares during the period. Norges Bank purchased a new stake in Unity Software in the 4th quarter valued at approximately $230,285,000. Finally, Ameriprise Financial Inc. raised its stake in shares of Unity Software by 37.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,628,328 shares of the company's stock worth $112,006,000 after buying an additional 1,270,798 shares in the last quarter. 73.46% of the stock is owned by institutional investors and hedge funds.

Unity Software Stock Up 0.2%

U opened at $43.40 on Monday. The firm has a market cap of $19.10 billion, a P/E ratio of -31.91, a PEG ratio of 1.90 and a beta of 2.04. The business's fifty day simple moving average is $35.17 and its 200 day simple moving average is $27.74. Unity Software Inc. has a 52 week low of $16.78 and a 52 week high of $52.15. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.55.

Unity Software (NYSE:U - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.28 earnings per share for the quarter, beating 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 analyst estimates of $514.72 million. During the same quarter in the previous year, the business posted $0.18 earnings per share. The company's revenue was up 24.0% on a year-over-year basis. As a group, equities research analysts anticipate that Unity Software Inc. will post 0.55 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Jarrod Yahes sold 26,017 shares of the business's stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $45.31, for a total value of $1,178,830.27. Following the completion of the sale, the chief financial officer directly owned 678,343 shares in the company, valued at approximately $30,735,721.33. The trade was a 3.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 business's stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $45.31, for a total transaction of $742,313.73. Following the sale, the chief executive officer directly owned 1,541,131 shares of the company's stock, valued at $69,828,645.61. This 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 three months, insiders have sold 65,991 shares of company stock valued at $2,989,081. 0.77% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on U. Barclays increased their price objective on Unity Software from $28.00 to $33.00 and gave the stock an "equal weight" rating in a research report on Friday, May 8th. Raymond James Financial started coverage on shares of Unity Software in a report on Monday, June 29th. They issued a "market perform" rating for the company. BTIG Research raised their price objective on shares of Unity Software from $43.00 to $51.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Wedbush upped their target price 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. Finally, Benchmark raised shares of Unity Software from a "hold" rating to a "buy" rating and set a $50.00 target price for the company in a report on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $45.16.

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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