Citizens Financial Group Inc. RI Invests $2.17 Million in Unity Software Inc. $U

Citizens Financial Group Inc. RI bought a new stake in Unity Software Inc. (NYSE:U) during the second quarter, HoldingsChannel.com reports. The fund bought 75,764 shares of the company’s stock, valued at approximately $2,165,000.

Several other hedge funds and other institutional investors have also made changes to their positions in U. REAP Financial Group LLC purchased a new stake in Unity Software during the 4th quarter worth $28,000. Larson Financial Group LLC raised its position in Unity Software by 88.1% in the third quarter. Larson Financial Group LLC now owns 728 shares of the company’s stock valued at $29,000 after purchasing an additional 341 shares during the period. IFP Advisors Inc purchased a new position in Unity Software in the third quarter valued at about $33,000. International Assets Investment Management LLC acquired a new position in shares of Unity Software during the fourth quarter worth about $36,000. Finally, Cornerstone Planning Group LLC lifted its stake in shares of Unity Software by 3,953.3% during the fourth quarter. Cornerstone Planning Group LLC now owns 1,216 shares of the company’s stock worth $49,000 after purchasing an additional 1,186 shares in the last quarter. Institutional investors and hedge funds own 73.46% of the company’s stock.

Unity Software Stock Performance

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

Unity Software (NYSE:U) last announced its earnings results on Thursday, August 6th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $546.47 million during the quarter, compared to the consensus estimate of $514.72 million. During the same period last year, the firm earned $0.18 earnings per share. The company’s revenue was up 24.0% on a year-over-year basis. On average, research analysts anticipate that Unity Software Inc. will post 0.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. UBS Group reaffirmed an “outperform” rating on shares of Unity Software in a research report on Friday, August 7th. HSBC upgraded Unity Software from a “hold” rating to a “buy” rating and set a $47.10 target price on the stock in a report on Friday, August 7th. Benchmark raised Unity Software from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Friday, August 7th. Piper Sandler upped their price target on Unity Software from $45.00 to $55.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Finally, Citizens Jmp increased their price objective on shares of Unity Software from $37.00 to $45.00 and gave the company a “market outperform” rating in a research report on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Unity Software has an average rating of “Moderate Buy” and an average target price of $45.16.

Insider Transactions at Unity Software

In other Unity Software news, CAO Mark Barrysmith sold 13,247 shares of Unity Software stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $27.18, for a total transaction of $360,053.46. Following the sale, the chief accounting officer directly owned 370,654 shares in the company, valued at $10,074,375.72. The trade was a 3.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 company’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 value of $25,894.40. Following the completion of the transaction, the senior vice president directly owned 309,445 shares in the company, valued at approximately $8,416,904. The trade was a 0.31% decrease in their ownership of the stock. 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. Insiders have sold a total of 198,321 shares of company stock valued at $5,390,783 in the last three months. 0.77% of the stock is currently owned by company insiders.

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.