Public Employees Retirement System of Ohio Acquires New Position in Unity Software Inc. $U

Public Employees Retirement System of Ohio acquired a new stake in shares of Unity Software Inc. (NYSE:U) in the 2nd quarter, HoldingsChannel reports. The firm acquired 104,878 shares of the company’s stock, valued at approximately $2,997,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Atreides Management LP bought a new position in shares of Unity Software in the 2nd quarter valued at $292,826,000. Wellington Management Group LLP boosted its stake in Unity Software by 58.7% in the third quarter. Wellington Management Group LLP now owns 18,213,875 shares of the company’s stock valued at $729,284,000 after buying an additional 6,734,285 shares in the last quarter. Norges Bank bought a new position in Unity Software in the fourth quarter valued at about $230,285,000. Renaissance Technologies LLC acquired a new position in Unity Software during the first quarter worth about $54,534,000. Finally, Avala Global LP acquired a new position in Unity Software during the second quarter worth about $62,522,000. 73.46% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Unity Software news, CEO Matthew Bromberg sold 16,383 shares of the firm’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $45.31, for a total transaction of $742,313.73. Following the transaction, the chief executive officer directly owned 1,541,131 shares in the company, valued at approximately $69,828,645.61. This trade represents a 1.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Alexander Blum sold 43,556 shares of the company’s stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $43.51, for a total value of $1,895,121.56. Following the completion of the transaction, the chief operating officer directly owned 661,855 shares of the company’s stock, valued at approximately $28,797,311.05. This represents a 6.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 109,547 shares of company stock valued at $4,884,202. 0.77% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on U. Needham & Company LLC raised their price target on shares of Unity Software from $40.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Barclays upped their price target on shares of Unity Software from $28.00 to $33.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Raymond James Financial assumed coverage on Unity Software in a research report on Monday, June 29th. They set a “market perform” rating for the company. Zacks Research upgraded shares of Unity Software from a “hold” rating to a “strong-buy” rating in a report on Monday, July 13th. Finally, Bank of America upgraded Unity Software from a “neutral” rating to a “buy” rating and upped their target price for the company from $30.00 to $50.00 in a research report on Friday, August 7th. Two investment 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.16.

Unity Software Price Performance

Shares of NYSE U opened at $41.63 on Friday. The stock has a market cap of $18.32 billion, a price-to-earnings ratio of -30.61, a PEG ratio of 1.84 and a beta of 2.06. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.03 and a current ratio of 2.03. Unity Software Inc. has a fifty-two week low of $16.78 and a fifty-two week high of $52.15. The firm’s 50-day simple moving average is $36.58 and its 200 day simple moving average is $28.37.

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

Unity Software Company 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.