WT Asset Management Ltd Invests $5.70 Million in Unity Software Inc. $U

WT Asset Management Ltd acquired a new position in Unity Software Inc. (NYSE:U) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 199,368 shares of the company’s stock, valued at approximately $5,698,000. Unity Software comprises about 0.1% of WT Asset Management Ltd’s holdings, making the stock its 21st largest holding.

Several other large investors have also recently modified their holdings of U. Vanguard Group Inc. grew its holdings in Unity Software by 2.9% in the fourth 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 during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Unity Software by 58.7% during 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 during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Unity Software by 5.9% during the 4th quarter. Geode Capital Management LLC now owns 5,852,047 shares of the company’s stock valued at $258,547,000 after purchasing an additional 328,595 shares during the last quarter. Norges Bank acquired a new stake in shares of Unity Software in the 4th quarter worth $230,285,000. Finally, Ameriprise Financial Inc. boosted its position in shares of Unity Software by 37.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,628,328 shares of the company’s stock worth $112,006,000 after purchasing an additional 1,270,798 shares in the last quarter. Institutional investors own 73.46% of the company’s stock.

Insider Buying and Selling at Unity Software

In other news, SVP Rebecca Berenice Boyden sold 952 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $27.20, for a total value of $25,894.40. Following the transaction, the senior vice president directly owned 309,445 shares of the company’s stock, valued at approximately $8,416,904. This represents a 0.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Matthew S. Bromberg sold 138,993 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $27.18, for a total value of $3,777,829.74. Following the completion of the transaction, the chief executive officer owned 1,557,514 shares of the company’s stock, valued at approximately $42,333,230.52. The trade was a 8.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 198,321 shares of company stock worth $5,390,783. 0.77% of the stock is owned by corporate insiders.

Unity Software Price Performance

Shares of U opened at $45.45 on Tuesday. 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 debt-to-equity ratio of 0.55, a current ratio of 2.03 and a quick ratio of 2.03. Unity Software Inc. has a 1-year low of $16.78 and a 1-year high of $52.15. The company’s fifty day moving average price is $31.91 and its 200-day moving average price is $26.70.

Unity Software (NYSE:U) last released its earnings results on Thursday, August 6th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.39. The firm had revenue of $546.47 million for the quarter, compared to the consensus estimate of $514.72 million. Unity Software had a positive return on equity of 4.64% and a negative net margin of 28.97%.The firm’s revenue was up 24.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.18 EPS. On average, equities research analysts predict that Unity Software Inc. will post 0.35 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on U shares. UBS Group restated an “outperform” rating on shares of Unity Software in a research note on Friday, August 7th. Raymond James Financial began coverage on Unity Software in a research note on Monday, June 29th. They issued a “market perform” rating for the company. Citigroup raised their price target on Unity Software from $40.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, August 10th. HSBC upgraded Unity Software from a “hold” rating to a “buy” rating and set a $47.10 price target on the stock in a research note on Friday, August 7th. Finally, Piper Sandler upped their price objective on shares of Unity Software from $45.00 to $55.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Unity Software has a consensus rating of “Moderate Buy” and an average target price of $45.16.

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.