Bank of New York Mellon Corp Has $23.93 Million Position in Unity Software Inc. (NYSE:U)

Bank of New York Mellon Corp raised its stake in shares of Unity Software Inc. (NYSE:U) by 40.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,471,671 shares of the company’s stock after buying an additional 424,806 shares during the period. Bank of New York Mellon Corp owned about 0.38% of Unity Software worth $23,929,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Pasadena Private Wealth LLC acquired a new stake in shares of Unity Software in the 2nd quarter valued at $211,000. Blue Trust Inc. lifted its stake in shares of Unity Software by 308.8% in the 2nd quarter. Blue Trust Inc. now owns 3,123 shares of the company’s stock valued at $51,000 after purchasing an additional 2,359 shares during the last quarter. SteelPeak Wealth LLC lifted its position in Unity Software by 30.2% during the 2nd quarter. SteelPeak Wealth LLC now owns 58,926 shares of the company’s stock worth $958,000 after acquiring an additional 13,658 shares during the last quarter. 180 Wealth Advisors LLC acquired a new position in Unity Software during the 2nd quarter worth $215,000. Finally, Wealth Enhancement Advisory Services LLC lifted its position in Unity Software by 56.3% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 14,234 shares of the company’s stock worth $231,000 after acquiring an additional 5,128 shares during the last quarter. Institutional investors and hedge funds own 73.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Barclays cut their target price on shares of Unity Software from $28.00 to $27.00 and set an “equal weight” rating for the company in a research report on Friday, May 10th. Needham & Company LLC dropped their price objective on shares of Unity Software from $31.00 to $23.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Piper Sandler restated a “neutral” rating and set a $17.00 price objective (down previously from $25.00) on shares of Unity Software in a report on Friday, August 9th. Wedbush dropped their price objective on shares of Unity Software from $33.50 to $21.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Finally, JMP Securities reissued a “market perform” rating on shares of Unity Software in a research note on Friday, May 10th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $26.46.

Unity Software Stock Performance

Unity Software stock opened at $15.93 on Thursday. The stock has a 50-day simple moving average of $16.22 and a 200 day simple moving average of $21.03. The stock has a market capitalization of $6.32 billion, a price-to-earnings ratio of -7.11 and a beta of 2.25. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 0.70. Unity Software Inc. has a 12-month low of $13.90 and a 12-month high of $43.54.

Unity Software (NYSE:U) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.12. The business had revenue of $449.30 million during the quarter, compared to analyst estimates of $438.37 million. Unity Software had a negative net margin of 38.52% and a negative return on equity of 8.78%. Unity Software’s revenue for the quarter was down 15.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.26) earnings per share. On average, research analysts anticipate that Unity Software Inc. will post -1.9 earnings per share for the current fiscal year.

Insider Activity at Unity Software

In other news, SVP Anirma Gupta sold 1,506 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $16.73, for a total value of $25,195.38. Following the transaction, the senior vice president now owns 409,540 shares of the company’s stock, valued at approximately $6,851,604.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 5,472 shares of company stock worth $90,871 over the last 90 days. Insiders own 6.30% of the company’s stock.

Unity Software Company Profile

Unity Software Inc operates a real-time 3D development platform. Its platform provides software solutions to create, run, and monetize interactive, real-time 2D and 3D content for mobile phones, tablets, PCs, consoles, and augmented and virtual reality devices. The company offers its solutions directly through its online store and field sales operations in North America, Denmark, Finland, the United Kingdom, Germany, Japan, China, Singapore, and South Korea, as well as indirectly through independent distributors and resellers worldwide.