Cibc World Market Inc. Purchases Shares of 12,433 Unity Software Inc. $U

Cibc World Market Inc. purchased a new position in Unity Software Inc. (NYSE:U) in the 2nd quarter, HoldingsChannel reports. The fund purchased 12,433 shares of the company’s stock, valued at approximately $355,000.

A number of other large investors have also modified their holdings of the stock. Vanguard Group Inc. grew its stake in Unity Software by 2.9% during the 4th quarter. Vanguard Group Inc. now owns 35,553,296 shares of the company’s stock worth $1,570,389,000 after purchasing an additional 996,685 shares in the last quarter. Wellington Management Group LLP raised its position in Unity Software by 58.7% in the 3rd quarter. Wellington Management Group LLP now owns 18,213,875 shares of the company’s stock valued at $729,284,000 after purchasing an additional 6,734,285 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Unity Software by 5.9% in the 4th quarter. Geode Capital Management LLC now owns 5,852,047 shares of the company’s stock valued at $258,547,000 after buying an additional 328,595 shares during the period. Norges Bank acquired a new position in shares of Unity Software during the fourth quarter worth about $230,285,000. Finally, Ameriprise Financial Inc. grew its position in shares of Unity Software by 37.8% during the second quarter. Ameriprise Financial Inc. now owns 4,628,328 shares of the company’s stock worth $112,006,000 after buying an additional 1,270,798 shares in the last quarter. Hedge funds and other institutional investors own 73.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft raised shares of Unity Software from a “hold” rating to a “buy” rating and raised their target price for the company from $31.00 to $50.00 in a report on Friday, August 7th. Barclays increased their price objective 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. Zacks Research upgraded shares of Unity Software from a “hold” rating to a “strong-buy” rating in a report on Monday, July 13th. Bank of America raised shares of Unity Software from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $30.00 to $50.00 in a research report on Friday, August 7th. Finally, Benchmark upgraded shares of Unity Software from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Friday, August 7th. Two equities research 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 given a Sell rating to the company. According to MarketBeat.com, Unity Software presently has an average rating of “Moderate Buy” and an average price target of $45.16.

Unity Software Price Performance

U stock opened at $43.40 on Friday. The business has a 50 day moving average price of $35.17 and a 200 day moving average price of $27.74. 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 has a market cap of $19.10 billion, a price-to-earnings ratio of -31.91, a PEG ratio of 1.90 and a beta of 2.04. Unity Software Inc. has a fifty-two week low of $16.78 and a fifty-two week high of $52.15.

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

Insider Activity at Unity Software

In related news, CFO Jarrod Yahes sold 26,017 shares of the business’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $45.31, for a total value of $1,178,830.27. Following the completion of the sale, the chief financial officer directly owned 678,343 shares of the company’s stock, valued at $30,735,721.33. The trade was a 3.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Matthew S. Bromberg sold 16,383 shares of the company’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $45.31, for a total transaction of $742,313.73. Following the completion of the transaction, the chief executive officer owned 1,541,131 shares of the company’s stock, valued at $69,828,645.61. This represents a 1.05% 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. In the last quarter, insiders have sold 65,991 shares of company stock worth $2,989,081. Corporate insiders own 0.77% of the company’s stock.

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.