Pasadena Private Wealth LLC Takes Position in Unity Software Inc. $U

Pasadena Private Wealth LLC purchased a new stake in Unity Software Inc. (NYSE:U) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 71,428 shares of the company’s stock, valued at approximately $2,041,000.

A number of other institutional investors have also recently bought and sold shares of the stock. REAP Financial Group LLC acquired a new stake in Unity Software during the 4th quarter worth about $28,000. Larson Financial Group LLC increased its position in shares of Unity Software by 88.1% in the third quarter. Larson Financial Group LLC now owns 728 shares of the company’s stock worth $29,000 after acquiring an additional 341 shares in the last quarter. IFP Advisors Inc purchased a new position in shares of Unity Software in the third quarter worth approximately $33,000. International Assets Investment Management LLC acquired a new stake in shares of Unity Software during the fourth quarter valued at approximately $36,000. Finally, Cornerstone Planning Group LLC lifted its position in shares of Unity Software by 3,953.3% in the 4th quarter. Cornerstone Planning Group LLC now owns 1,216 shares of the company’s stock valued at $49,000 after acquiring an additional 1,186 shares in the last quarter. Hedge funds and other institutional investors own 73.46% of the company’s stock.

Unity Software Stock Up 0.9%

Unity Software stock opened at $47.14 on Thursday. The company has a market capitalization of $20.75 billion, a P/E ratio of -34.66, a P/E/G ratio of 2.05 and a beta of 2.04. The firm’s fifty day simple moving average is $32.69 and its 200-day simple moving average is $26.81. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.55. Unity Software Inc. has a 1-year low of $16.78 and a 1-year high of $52.15.

Unity Software (NYSE:U) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.39. The firm had revenue of $546.47 million during the quarter, compared to analysts’ expectations of $514.72 million. Unity Software had a negative net margin of 28.97% and a positive return on equity of 4.64%. Unity Software’s revenue for the quarter was up 24.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.18 earnings per share. Sell-side analysts forecast that Unity Software Inc. will post 0.55 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on U shares. Deutsche Bank Aktiengesellschaft upgraded shares of Unity Software from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $31.00 to $50.00 in a research report on Friday, August 7th. Wedbush increased their price objective on Unity Software from $32.00 to $36.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 22nd. Oppenheimer increased their target price on shares of Unity Software from $38.00 to $47.00 and gave the stock an “outperform” rating in a research report on Friday, August 7th. BTIG Research lifted their target price 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. Finally, Benchmark raised Unity Software from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $45.16.

Insider Activity at Unity Software

In other news, CFO Jarrod Yahes sold 24,021 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $27.18, for a total transaction of $652,890.78. Following the completion of the sale, the chief financial officer owned 704,360 shares in the company, valued at approximately $19,144,504.80. This represents a 3.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Matthew S. Bromberg sold 138,993 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $27.18, for a total value of $3,777,829.74. Following the transaction, the chief executive officer directly owned 1,557,514 shares in the company, valued at approximately $42,333,230.52. This represents a 8.19% decrease in their position. 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. Insiders have sold a total of 198,321 shares of company stock worth $5,390,783 in the last 90 days. Insiders own 0.77% of the company’s stock.

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.