Evolve Private Wealth LLC Invests $455,000 in Unity Software Inc. $U

Evolve Private Wealth LLC bought a new position in Unity Software Inc. (NYSE:U) during the second quarter, according to its most recent filing with the SEC. The firm bought 15,914 shares of the company’s stock, valued at approximately $455,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Unity Software by 5.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 813,176 shares of the company’s stock worth $15,930,000 after buying an additional 45,481 shares during the last quarter. Focus Partners Wealth acquired a new position in shares of Unity Software during the first quarter valued at about $260,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Unity Software by 28.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,542 shares of the company’s stock worth $134,000 after acquiring an additional 1,241 shares in the last quarter. California Public Employees Retirement System increased its position in shares of Unity Software by 11.3% during the second quarter. California Public Employees Retirement System now owns 520,774 shares of the company’s stock worth $12,603,000 after acquiring an additional 53,015 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in shares of Unity Software by 1,135.6% in the 2nd quarter. Sei Investments Co. now owns 224,715 shares of the company’s stock worth $5,438,000 after acquiring an additional 206,529 shares during the last quarter. Institutional investors own 73.46% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Oppenheimer raised their price target on shares of Unity Software from $38.00 to $47.00 and gave the company an “outperform” rating in a research report on Friday, August 7th. HSBC raised Unity Software from a “hold” rating to a “buy” rating and set a $47.10 price objective for the company in a report on Friday, August 7th. Barclays raised their target price on Unity Software from $28.00 to $33.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. BTIG Research lifted their target price on Unity Software from $43.00 to $51.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Finally, Citizens Jmp increased their price target on 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.16.

Insider Buying and Selling

In related news, COO Alexander Blum sold 2,099 shares of Unity Software stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $27.37, for a total transaction of $57,449.63. Following the sale, the chief operating officer directly owned 727,970 shares in the company, valued at approximately $19,924,538.90. This trade represents a 0.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 0.77% of the company’s stock.

Unity Software Trading Down 2.3%

NYSE:U opened at $45.12 on Wednesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.03 and a current ratio of 2.03. The firm has a market cap of $19.86 billion, a price-to-earnings ratio of -33.18, a price-to-earnings-growth ratio of 2.02 and a beta of 2.04. Unity Software Inc. has a 52 week low of $16.78 and a 52 week high of $52.15. The firm has a 50-day moving average price of $34.18 and a two-hundred day moving average price of $27.35.

Unity Software (NYSE:U) last posted its earnings results on Thursday, August 6th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of ($0.11) by $0.39. The firm had revenue of $546.47 million for the quarter, compared to analysts’ expectations of $514.72 million. Unity Software had a negative net margin of 28.97% and a positive return on equity of 4.64%. The company’s quarterly revenue was up 24.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.18 EPS. On average, equities analysts expect that Unity Software Inc. will post 0.55 earnings per share for the current fiscal year.

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.