Pallas Capital Advisors LLC Makes New Investment in Unity Software Inc. $U

Pallas Capital Advisors LLC acquired a new stake in Unity Software Inc. (NYSE:U) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 19,966 shares of the company’s stock, valued at approximately $571,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. REAP Financial Group LLC acquired a new stake in shares of Unity Software in the fourth quarter valued at approximately $28,000. Larson Financial Group LLC grew 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 worth $29,000 after buying an additional 341 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Unity Software during the fourth quarter worth approximately $36,000. IFP Advisors Inc bought a new position in Unity Software during the 3rd quarter worth $33,000. Finally, Cornerstone Planning Group LLC increased its stake in Unity Software by 3,953.3% during the 4th quarter. Cornerstone Planning Group LLC now owns 1,216 shares of the company’s stock worth $49,000 after acquiring an additional 1,186 shares during the period. Institutional investors and hedge funds own 73.46% of the company’s stock.

Insider Activity at Unity Software

In related news, 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 sale, the chief executive officer directly owned 1,557,514 shares of the company’s stock, valued at $42,333,230.52. This trade represents a 8.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jarrod Yahes sold 24,021 shares of Unity Software stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $27.18, for a total value of $652,890.78. Following the completion of the transaction, the chief financial officer owned 704,360 shares in the company, valued at approximately $19,144,504.80. This represents a 3.30% 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. Insiders have sold 198,321 shares of company stock worth $5,390,783 in the last three months. Insiders own 0.77% of the company’s stock.

Unity Software Stock Performance

Shares of NYSE:U opened at $47.14 on Thursday. The company’s 50 day simple moving average is $32.69 and its 200 day simple moving average is $26.81. The stock has a market capitalization of $20.75 billion, a price-to-earnings ratio of -34.66, a price-to-earnings-growth ratio of 2.05 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.

Unity Software (NYSE:U) last released 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. The firm had revenue of $546.47 million during the quarter, compared to analysts’ expectations of $514.72 million. Unity Software had a positive return on equity of 4.64% and a negative net margin of 28.97%.The company’s quarterly revenue was up 24.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.18 earnings per share. As a group, research analysts predict that Unity Software Inc. will post 0.55 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on U. Zacks Research raised Unity Software from a “hold” rating to a “strong-buy” rating in a report on Monday, July 13th. Wedbush increased their target price on Unity Software from $32.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, July 22nd. Wells Fargo & Company raised their price target on Unity Software from $36.00 to $48.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Benchmark raised Unity Software from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research note on Friday, August 7th. Finally, Raymond James Financial assumed coverage on shares of Unity Software in a research report on Monday, June 29th. They set a “market perform” rating for the company. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Unity Software currently has an average rating of “Moderate Buy” and an average price target of $45.16.

Unity Software 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.