AustralianSuper Pty Ltd Takes $7.45 Million Position in Unity Software Inc. $U

AustralianSuper Pty Ltd purchased a new position in Unity Software Inc. (NYSE:U) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 185,962 shares of the company’s stock, valued at approximately $7,446,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Unity Software in the second quarter worth approximately $151,221,000. Slate Path Capital LP boosted its stake in Unity Software by 25.4% in the 2nd quarter. Slate Path Capital LP now owns 20,016,952 shares of the company’s stock worth $484,410,000 after purchasing an additional 4,048,484 shares during the period. Massachusetts Financial Services Co. MA purchased a new position in Unity Software during the 3rd quarter worth approximately $106,233,000. Duquesne Family Office LLC purchased a new position in Unity Software during the 2nd quarter worth approximately $42,932,000. Finally, Ameriprise Financial Inc. raised its stake in Unity Software by 37.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,628,328 shares of the company’s stock valued at $112,006,000 after purchasing an additional 1,270,798 shares during the period. Institutional investors and hedge funds own 73.46% of the company’s stock.

Insider Transactions at Unity Software

In other Unity Software news, CFO Jarrod Yahes sold 27,742 shares of the firm’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $42.79, for a total transaction of $1,187,080.18. Following the transaction, the chief financial officer directly owned 546,129 shares in the company, valued at $23,368,859.91. This trade represents a 4.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Tomer Bar-Zeev sold 50,000 shares of the business’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $47.00, for a total value of $2,350,000.00. Following the completion of the sale, the director directly owned 873,146 shares of the company’s stock, valued at $41,037,862. This represents a 5.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,647,935 shares of company stock valued at $75,174,498 in the last three months. 3.61% of the stock is currently owned by company insiders.

Unity Software Trading Down 4.4%

NYSE:U opened at $38.39 on Friday. The stock’s 50 day moving average price is $44.18 and its 200 day moving average price is $40.25. Unity Software Inc. has a 52 week low of $15.33 and a 52 week high of $52.15. The company has a market capitalization of $16.43 billion, a P/E ratio of -36.56, a P/E/G ratio of 42.10 and a beta of 2.04. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.78 and a current ratio of 2.78.

Unity Software (NYSE:U) last posted its earnings results on Wednesday, November 5th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. Unity Software had a negative net margin of 24.15% and a negative return on equity of 9.45%. The firm had revenue of $470.62 million during the quarter, compared to analysts’ expectations of $452.87 million. During the same period in the previous year, the company earned ($0.31) earnings per share. The company’s revenue was up 5.4% compared to the same quarter last year. On average, research analysts forecast that Unity Software Inc. will post -1.25 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. BTIG Research raised Unity Software from a “neutral” rating to a “buy” rating and set a $60.00 target price for the company in a research report on Thursday, December 11th. Piper Sandler upgraded Unity Software from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $43.00 to $59.00 in a research report on Thursday, December 11th. Deutsche Bank Aktiengesellschaft initiated coverage on Unity Software in a research note on Wednesday, October 22nd. They set a “hold” rating and a $39.00 target price on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Unity Software in a research report on Wednesday, January 21st. Finally, Barclays boosted their price objective on shares of Unity Software from $30.00 to $35.00 and gave the company an “equal weight” rating in a research report on Thursday, November 6th. 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 two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.27.

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.