Unity Software Inc. $U Stock Acquired by New York Life Investment Management LLC

New York Life Investment Management LLC lifted its holdings in Unity Software Inc. (NYSE:U) by 31.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 50,140 shares of the company’s stock after buying an additional 11,902 shares during the period. New York Life Investment Management LLC’s holdings in Unity Software were worth $2,052,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Atreides Management LP bought a new position in shares of Unity Software in the 2nd quarter valued at about $292,826,000. Resolute Advisors LLC increased its stake in Unity Software by 473.3% during the second quarter. Resolute Advisors LLC now owns 4,766,219 shares of the company’s stock worth $136,219,000 after acquiring an additional 3,934,840 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Unity Software by 52.8% during the first quarter. Dimensional Fund Advisors LP now owns 4,245,014 shares of the company’s stock worth $93,089,000 after acquiring an additional 1,465,962 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Unity Software by 9,886.8% during the third quarter. Assenagon Asset Management S.A. now owns 2,645,007 shares of the company’s stock worth $108,260,000 after acquiring an additional 2,618,522 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in Unity Software during the first quarter valued at approximately $54,534,000. 73.46% of the stock is currently owned by institutional investors.

Unity Software Trading Up 5.3%

Shares of NYSE:U traded up $2.67 during trading hours on Friday, hitting $52.85. 12,230,511 shares of the company’s stock traded hands, compared to its average volume of 13,104,950. Unity Software Inc. has a 1 year low of $16.78 and a 1 year high of $54.26. The business has a fifty day moving average price of $43.40 and a 200-day moving average price of $32.07. The firm has a market capitalization of $23.46 billion, a P/E ratio of -65.25, a price-to-earnings-growth ratio of 2.18 and a beta of 2.08. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.16 and a quick ratio of 2.03.

Unity Software (NYSE:U) last released its earnings results on Thursday, November 5th. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.41. Unity Software had a positive return on equity of 9.76% and a negative net margin of 15.60%. The firm had revenue of $622.09 million for the quarter, compared to analysts’ expectations of $567.03 million. During the same quarter in the prior year, the firm posted $0.20 earnings per share. The company’s quarterly revenue was up 32.2% on a year-over-year basis. Equities analysts expect that Unity Software Inc. will post 0.55 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Zacks Research raised Unity Software from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 5th. Morgan Stanley boosted their target price on Unity Software from $50.00 to $55.00 and gave the company an “overweight” rating in a research report on Tuesday, October 13th. Citigroup increased their price target on Unity Software from $48.00 to $59.00 and gave the company a “buy” rating in a report on Friday, November 6th. Jefferies Financial Group raised their price target on Unity Software from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, October 8th. Finally, UBS Group reiterated an “outperform” rating on shares of Unity Software in a research report on Friday, November 6th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.22.

Insiders Place Their Bets

In other Unity Software news, COO Alexander Blum sold 43,556 shares of the stock in a transaction on Friday, August 28th. The stock was sold at an average price of $43.51, for a total value of $1,895,121.56. Following the sale, the chief operating officer owned 661,855 shares in the company, valued at $28,797,311.05. This trade represents a 6.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew S. Bromberg sold 100,000 shares of the stock in a transaction on Friday, November 6th. The stock was sold at an average price of $51.30, for a total value of $5,130,000.00. Following the completion of the sale, the chief executive officer owned 1,441,131 shares in the company, valued at approximately $73,930,020.30. The trade was a 6.49% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 209,547 shares of company stock valued at $10,014,202 over the last quarter. 0.77% of the stock is currently owned by insiders.

About Unity Software

Unity Software develops a platform and tools for creating and operating interactive, real-time 2D and 3D content. Its Unity Editor and engine are used by developers to build games and other digital experiences for mobile devices, computers, consoles, and extended-reality platforms. The company also provides services that support the delivery and growth of interactive applications, including tools for collaboration, analytics, advertising, and in-app monetization. Unity’s products serve customers across industries such as gaming, entertainment, automotive, and architecture.