Zurcher Kantonalbank Zurich Cantonalbank Buys 38,940 Shares of Unity Software Inc. $U

Key Points

• Zurcher Kantonalbank boosted its stake in Unity Software by 57.9%, buying 38,940 shares to hold 106,170 shares valued at about $4.69 million.
• Unity beat the quarter with $0.24 EPS (vs. $0.20 est.) and revenue of $503.09M (+10.1% YoY); the stock opened at $25.95 (up 6.8%), has a market cap of $11.32B and a negative P/E.
• Insiders have sold 41,684 shares in the last 90 days (insider ownership 0.77%) while institutions own 73.46% of the stock; analysts' consensus is a "Moderate Buy" with an average target of $37.41.

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Unity Software Inc. (NYSE:U - Free Report) by 57.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 106,170 shares of the company's stock after buying an additional 38,940 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Unity Software were worth $4,690,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of U. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Unity Software by 5.9% in the 1st 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 buying an additional 45,481 shares during the last quarter. Focus Partners Wealth bought a new position in shares of Unity Software during the first quarter worth approximately $260,000. Northwestern Mutual Wealth Management Co. lifted its holdings in Unity Software by 28.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,542 shares of the company's stock worth $134,000 after purchasing an additional 1,241 shares during the last quarter. California Public Employees Retirement System lifted its holdings in Unity Software by 11.3% during the 2nd quarter. California Public Employees Retirement System now owns 520,774 shares of the company's stock worth $12,603,000 after purchasing an additional 53,015 shares during the last quarter. Finally, Sei Investments Co. grew its holdings in Unity Software by 1,135.6% in 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. Institutional investors and hedge funds own 73.46% of the company's stock.

Unity Software Stock Up 6.8%

Shares of U opened at $25.95 on Friday. Unity Software Inc. has a 12 month low of $16.78 and a 12 month high of $52.15. The firm's 50 day moving average is $20.87 and its 200-day moving average is $33.10. The stock has a market capitalization of $11.32 billion, a PE ratio of -27.03, a P/E/G ratio of 8.95 and a beta of 2.00. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.52.

Unity Software (NYSE:U - Get Free Report) last announced its earnings results on Wednesday, February 11th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.20 by $0.04. Unity Software had a negative net margin of 21.77% and a negative return on equity of 4.76%. The company had revenue of $503.09 million for the quarter, compared to analysts' expectations of $490.64 million. During the same period last year, the firm earned ($0.30) earnings per share. The business's revenue for the quarter was up 10.1% on a year-over-year basis. Equities research analysts forecast that Unity Software Inc. will post 0.13 EPS for the current year.

Insider Buying and Selling at Unity Software

In other Unity Software news, CFO Jarrod Yahes sold 12,196 shares of the firm's stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $18.07, for a total value of $220,381.72. Following the transaction, the chief financial officer directly owned 533,933 shares of the company's stock, valued at $9,648,169.31. This trade represents a 2.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Mark Barrysmith sold 10,578 shares of the firm's stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $18.07, for a total transaction of $191,144.46. Following the completion of the transaction, the chief accounting officer directly owned 383,901 shares in the company, valued at approximately $6,937,091.07. This represents a 2.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 41,684 shares of company stock valued at $773,350 in the last ninety days. 0.77% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

U has been the topic of several recent research reports. Needham & Company LLC reiterated a "buy" rating and set a $35.00 price objective on shares of Unity Software in a research report on Friday, March 27th. Morgan Stanley boosted their target price on shares of Unity Software from $30.00 to $32.00 and gave the company an "overweight" rating in a research report on Friday, March 27th. BTIG Research decreased their price target on shares of Unity Software from $41.00 to $39.00 and set a "buy" rating on the stock in a research note on Friday, March 27th. Barclays lowered their price target on shares of Unity Software from $35.00 to $28.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 12th. Finally, Oppenheimer upgraded shares of Unity Software from a "market perform" rating to an "outperform" rating and set a $38.00 price objective for the company in a research note on Tuesday, February 10th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $37.41.

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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