Belpointe Asset Management LLC Buys New Holdings in Unity Software Inc. $U

Belpointe Asset Management LLC acquired a new position in shares of Unity Software Inc. (NYSE:U) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 22,110 shares of the company’s stock, valued at approximately $885,000.

A number of other institutional investors also recently modified their holdings of the business. Root Financial Partners LLC acquired a new stake in shares of Unity Software during the 3rd quarter worth $27,000. Salem Investment Counselors Inc. bought a new stake in shares of Unity Software during the 3rd quarter valued at approximately $40,000. Atlantic Union Bankshares Corp acquired a new position in shares of Unity Software during the second quarter worth $28,000. Roxbury Financial LLC acquired a new stake in shares of Unity Software during the third quarter valued at about $60,000. Finally, Allworth Financial LP boosted its position in Unity Software by 28.4% during the 2nd quarter. Allworth Financial LP now owns 1,865 shares of the company’s stock worth $45,000 after buying an additional 412 shares during the period. Institutional investors own 73.46% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. The Goldman Sachs Group increased their price target on Unity Software from $42.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, January 13th. Piper Sandler upgraded shares of Unity Software from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $43.00 to $59.00 in a report on Thursday, December 11th. BTIG Research upgraded Unity Software from a “neutral” rating to a “buy” rating and set a $60.00 price target for the company in a report on Thursday, December 11th. Barclays boosted their target price on Unity Software from $30.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 6th. Finally, Wedbush increased their price target on shares of Unity Software from $50.00 to $55.00 and gave the company an “outperform” rating in a research report on Tuesday, December 2nd. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $45.27.

Insider Transactions at Unity Software

In other news, COO Alexander Blum sold 40,693 shares of the business’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $41.38, for a total transaction of $1,683,876.34. Following the sale, the chief operating officer owned 563,118 shares in the company, valued at approximately $23,301,822.84. The trade was a 6.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director David Helgason sold 393,312 shares of the company’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $49.64, for a total transaction of $19,524,007.68. Following the completion of the sale, the director owned 5,439,173 shares in the company, valued at approximately $270,000,547.72. This trade represents a 6.74% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 1,647,935 shares of company stock worth $75,174,498. 3.61% of the stock is owned by insiders.

Unity Software Trading Down 4.4%

Shares of U stock opened at $38.39 on Friday. The firm has a market cap of $16.43 billion, a P/E ratio of -36.56, a price-to-earnings-growth ratio of 42.10 and a beta of 2.04. The business has a 50-day moving average price of $44.18 and a two-hundred day moving average price of $40.25. The company has a quick ratio of 2.78, a current ratio of 2.78 and a debt-to-equity ratio of 0.70. Unity Software Inc. has a 12-month low of $15.33 and a 12-month high of $52.15.

Unity Software (NYSE:U) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.17 by $0.03. The firm had revenue of $470.62 million for the quarter, compared to the consensus estimate of $452.87 million. Unity Software had a negative return on equity of 9.45% and a negative net margin of 24.15%.The company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.31) earnings per share. Equities analysts anticipate that Unity Software Inc. will post -1.25 EPS for the current fiscal year.

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.