Commonwealth Equity Services LLC Cuts Position in Unity Software Inc. (NYSE:U)

Commonwealth Equity Services LLC decreased its stake in Unity Software Inc. (NYSE:U) by 7.1% in the first quarter, Holdings Channel.com reports. The firm owned 81,546 shares of the company’s stock after selling 6,230 shares during the period. Commonwealth Equity Services LLC’s holdings in Unity Software were worth $2,177,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Unity Software during the 4th quarter worth approximately $379,180,000. Capital Research Global Investors lifted its stake in shares of Unity Software by 510.2% during the 4th quarter. Capital Research Global Investors now owns 7,181,661 shares of the company’s stock worth $293,658,000 after acquiring an additional 6,004,655 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Unity Software by 30.4% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,909,509 shares of the company’s stock worth $317,984,000 after acquiring an additional 2,777,884 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Unity Software by 8.3% during the 3rd quarter. Vanguard Group Inc. now owns 25,819,797 shares of the company’s stock worth $810,483,000 after acquiring an additional 1,972,435 shares during the last quarter. Finally, Contour Asset Management LLC lifted its stake in shares of Unity Software by 77.8% during the 4th quarter. Contour Asset Management LLC now owns 4,091,289 shares of the company’s stock worth $167,293,000 after acquiring an additional 1,790,326 shares during the last quarter. Hedge funds and other institutional investors own 73.46% of the company’s stock.

Insider Buying and Selling

In other Unity Software news, insider Marc Whitten sold 31,466 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $19.10, for a total transaction of $601,000.60. Following the sale, the insider now owns 958,241 shares in the company, valued at approximately $18,302,403.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Unity Software news, insider Marc Whitten sold 31,466 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $19.10, for a total transaction of $601,000.60. Following the sale, the insider now owns 958,241 shares in the company, valued at approximately $18,302,403.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Luis Felipe Visoso sold 42,718 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $19.10, for a total value of $815,913.80. Following the sale, the chief financial officer now owns 1,598,345 shares in the company, valued at approximately $30,528,389.50. The disclosure for this sale can be found here. Insiders have sold a total of 245,736 shares of company stock worth $4,832,120 in the last ninety days. 6.30% of the stock is owned by insiders.

Unity Software Stock Up 0.4 %

U stock traded up $0.06 on Friday, hitting $15.79. 2,126,806 shares of the company’s stock were exchanged, compared to its average volume of 9,475,325. Unity Software Inc. has a 12-month low of $15.23 and a 12-month high of $50.08. The firm has a 50 day moving average price of $19.51 and a two-hundred day moving average price of $27.12. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.15 and a current ratio of 2.15. The stock has a market cap of $6.17 billion, a P/E ratio of -7.02 and a beta of 2.25.

Unity Software (NYSE:U) last announced its earnings results on Thursday, May 9th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.13. Unity Software had a negative return on equity of 7.73% and a negative net margin of 40.11%. The firm had revenue of $460.38 million for the quarter, compared to the consensus estimate of $422.53 million. As a group, equities research analysts expect that Unity Software Inc. will post -1.81 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

U has been the subject of a number of research analyst reports. Macquarie decreased their target price on Unity Software from $20.00 to $14.00 and set an “underperform” rating for the company in a research report on Thursday, June 27th. Wedbush reaffirmed an “outperform” rating and set a $33.50 target price on shares of Unity Software in a research report on Friday, May 10th. Barclays decreased their target price on 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 reaffirmed a “buy” rating and set a $31.00 target price on shares of Unity Software in a research report on Friday, May 10th. Finally, The Goldman Sachs Group decreased their target price on Unity Software from $29.00 to $26.00 and set a “neutral” rating for the company in a research report on Monday, May 13th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $33.47.

Unity Software 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.