Bank of Montreal Can Decreases Stake in Unity Software Inc. (NYSE:U)

Bank of Montreal Can decreased its position in Unity Software Inc. (NYSE:U - Free Report) by 99.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 105,558 shares of the company's stock after selling 39,738,063 shares during the quarter. Bank of Montreal Can's holdings in Unity Software were worth $2,372,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Ariose Capital Management Ltd acquired a new position in shares of Unity Software during the 4th quarter worth approximately $2,299,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Unity Software by 3.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,958,400 shares of the company's stock valued at $44,005,000 after buying an additional 72,384 shares during the period. Jessup Wealth Management Inc purchased a new stake in Unity Software in the 4th quarter worth approximately $510,000. Vanguard Group Inc. boosted its holdings in shares of Unity Software by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 31,123,035 shares of the company's stock worth $699,335,000 after purchasing an additional 625,872 shares during the last quarter. Finally, CIBC Asset Management Inc increased its stake in shares of Unity Software by 10.0% during the 4th quarter. CIBC Asset Management Inc now owns 376,794 shares of the company's stock valued at $8,467,000 after acquiring an additional 34,322 shares during the last quarter. 73.46% of the stock is owned by hedge funds and other institutional investors.

Unity Software Stock Up 3.5 %

Unity Software stock traded up $0.68 during mid-day trading on Tuesday, hitting $19.93. 1,315,040 shares of the company's stock were exchanged, compared to its average volume of 10,866,888. The stock has a 50 day moving average of $21.53 and a two-hundred day moving average of $22.01. Unity Software Inc. has a 1-year low of $13.90 and a 1-year high of $30.88. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.70. The stock has a market cap of $8.16 billion, a P/E ratio of -11.88 and a beta of 2.31.

Unity Software (NYSE:U - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($0.30) EPS for the quarter, topping analysts' consensus estimates of ($0.35) by $0.05. Unity Software had a negative return on equity of 13.40% and a negative net margin of 36.63%. The business had revenue of $457.10 million for the quarter, compared to analyst estimates of $433.47 million. As a group, analysts anticipate that Unity Software Inc. will post -1.25 EPS for the current fiscal year.

Insider Activity

In other Unity Software news, COO Alexander Blum sold 1,479 shares of the business's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $25.26, for a total value of $37,359.54. Following the completion of the sale, the chief operating officer now owns 495,648 shares of the company's stock, valued at $12,520,068.48. The trade was a 0.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Tomer Bar-Zeev sold 166,667 shares of the firm's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $20.99, for a total value of $3,498,340.33. Following the completion of the sale, the director now directly owns 3,481,479 shares in the company, valued at approximately $73,076,244.21. This represents a 4.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 782,231 shares of company stock valued at $17,933,528 over the last 90 days. 6.30% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have commented on U shares. Wedbush reissued an "outperform" rating and issued a $27.00 price objective on shares of Unity Software in a research report on Thursday, February 13th. JMP Securities reissued a "market perform" rating on shares of Unity Software in a report on Monday, February 3rd. UBS Group reduced their price objective on shares of Unity Software from $30.00 to $22.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Macquarie began coverage on Unity Software in a report on Monday, March 10th. They issued a "neutral" rating and a $24.00 price objective for the company. Finally, HSBC upgraded Unity Software from a "hold" rating to a "buy" rating and set a $34.00 price objective on the stock in a research note on Friday, February 21st. Ten equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $23.96.

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.