Focus Partners Advisor Solutions LLC Invests $861,000 in Unity Software Inc. $U

Focus Partners Advisor Solutions LLC acquired a new stake in Unity Software Inc. (NYSE:U) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 30,142 shares of the company’s stock, valued at approximately $861,000.

A number of other hedge funds have also made changes to their positions in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Unity Software by 5.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 813,176 shares of the company’s stock worth $15,930,000 after purchasing an additional 45,481 shares in the last quarter. Focus Partners Wealth bought a new position in Unity Software during the 1st quarter valued at $260,000. Northwestern Mutual Wealth Management Co. boosted its stake 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 valued at $134,000 after purchasing an additional 1,241 shares in the last quarter. California Public Employees Retirement System increased its position in shares of Unity Software by 11.3% during the 2nd quarter. California Public Employees Retirement System now owns 520,774 shares of the company’s stock valued at $12,603,000 after purchasing an additional 53,015 shares during the period. Finally, Sei Investments Co. increased its position in shares of Unity Software by 1,135.6% during the 2nd quarter. Sei Investments Co. now owns 224,715 shares of the company’s stock valued at $5,438,000 after purchasing an additional 206,529 shares during the period. Institutional investors and hedge funds own 73.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on U. Deutsche Bank Aktiengesellschaft upgraded Unity Software from a “hold” rating to a “buy” rating and upped their price objective for the company from $31.00 to $50.00 in a report on Friday, August 7th. Wedbush lifted their target price on Unity Software from $32.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, July 22nd. Raymond James Financial began coverage on shares of Unity Software in a research report on Monday, June 29th. They issued a “market perform” rating on the stock. Weiss Ratings raised shares of Unity Software from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 4th. Finally, HSBC upgraded shares of Unity Software from a “hold” rating to a “buy” rating and set a $47.10 price objective for the company in a research report on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $45.16.

Insider Buying and Selling

In other news, CEO Matthew S. Bromberg sold 138,993 shares of Unity Software stock in a transaction that occurred on 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 of the company’s stock, valued at $42,333,230.52. This trade represents a 8.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Rebecca Berenice Boyden sold 952 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $27.20, for a total transaction of $25,894.40. Following the sale, the senior vice president owned 309,445 shares in the company, valued at $8,416,904. This represents a 0.31% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 198,321 shares of company stock valued at $5,390,783. Company insiders own 0.77% of the company’s stock.

Unity Software Stock Down 1.7%

Shares of Unity Software stock opened at $45.45 on Tuesday. Unity Software Inc. has a 12-month low of $16.78 and a 12-month high of $52.15. The firm has a market capitalization of $20.00 billion, a PE ratio of -33.42, a price-to-earnings-growth ratio of 3.16 and a beta of 2.04. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.55. The stock’s fifty day moving average is $31.91 and its 200-day moving average is $26.70.

Unity Software (NYSE:U) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.39. The business had revenue of $546.47 million during the quarter, compared to analyst estimates of $514.72 million. Unity Software had a positive return on equity of 4.64% and a negative net margin of 28.97%.Unity Software’s revenue for the quarter was up 24.0% on a year-over-year basis. During the same quarter last year, the company posted $0.18 EPS. Equities analysts anticipate that Unity Software Inc. will post 0.35 earnings per share for the current year.

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.