Unity Software Inc. $U Shares Sold by Engineers Gate Manager LP

Engineers Gate Manager LP reduced its stake in shares of Unity Software Inc. (NYSE:U) by 71.8% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 162,674 shares of the company’s stock after selling 413,440 shares during the period. Engineers Gate Manager LP’s holdings in Unity Software were worth $4,649,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. REAP Financial Group LLC purchased a new stake in shares of Unity Software in the fourth quarter worth about $28,000. Larson Financial Group LLC raised its position in Unity Software by 88.1% during the third quarter. Larson Financial Group LLC now owns 728 shares of the company’s stock valued at $29,000 after acquiring an additional 341 shares in the last quarter. International Assets Investment Management LLC acquired a new position in Unity Software in the fourth quarter valued at approximately $36,000. IFP Advisors Inc acquired a new position in Unity Software in the third quarter valued at approximately $33,000. Finally, Los Angeles Capital Management LLC purchased a new stake in Unity Software in the 4th quarter worth approximately $68,000. Hedge funds and other institutional investors own 73.46% of the company’s stock.

Insider Activity at Unity Software

In other Unity Software news, SVP Rebecca Boyden sold 1,032 shares of the company’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $45.32, for a total transaction of $46,770.24. Following the completion of the transaction, the senior vice president directly owned 308,413 shares in the company, valued at approximately $13,977,277.16. This represents a 0.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jarrod Yahes sold 26,017 shares of Unity Software stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $45.31, for a total transaction of $1,178,830.27. Following the completion of the sale, the chief financial officer owned 678,343 shares in the company, valued at approximately $30,735,721.33. This trade represents a 3.69% 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. Over the last ninety days, insiders have sold 109,547 shares of company stock valued at $4,884,202. Insiders own 0.77% of the company’s stock.

Unity Software Stock Up 4.6%

Unity Software stock opened at $44.00 on Friday. The stock has a market capitalization of $19.37 billion, a PE ratio of -32.36, a price-to-earnings-growth ratio of 1.93 and a beta of 2.06. Unity Software Inc. has a 12 month low of $16.78 and a 12 month high of $52.15. The business has a 50 day simple moving average of $37.92 and a 200-day simple moving average of $29.22. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.03 and a quick ratio of 2.03.

Unity Software (NYSE:U) last announced its earnings results on Thursday, August 6th. The company reported $0.28 earnings per share for the quarter, topping 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 business had revenue of $546.47 million during the quarter, compared to the consensus estimate of $514.72 million. During the same period in the prior year, the company posted $0.18 EPS. The business’s quarterly revenue was up 24.0% on a year-over-year basis. On average, analysts anticipate that Unity Software Inc. will post 0.55 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

U has been the topic of a number of analyst reports. BTIG Research raised their price objective on shares of Unity Software from $43.00 to $51.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Zacks Research upgraded shares of Unity Software from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 13th. Piper Sandler increased their price target on shares of Unity Software from $45.00 to $55.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. 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 report on Friday, August 7th. Finally, Benchmark raised shares of Unity Software from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $45.16.

Unity Software Company Profile

Unity Software Inc develops software and services for creating, operating and monetizing interactive, real-time 2D and 3D content. Its platform is widely used to build video games for mobile devices, personal computers, consoles and the web, as well as applications for industries such as automotive, architecture, engineering, construction, manufacturing and media.

The company’s core offerings include the Unity Engine and related development tools, which support graphics, physics, animation, audio, scripting and deployment across multiple platforms.