Unity Software Inc. (NYSE:U) Stock Position Lowered by Resolute Advisors LLC

Resolute Advisors LLC trimmed its holdings in shares of Unity Software Inc. (NYSE:U - Free Report) by 4.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,571,417 shares of the company's stock after selling 583,960 shares during the quarter. Unity Software comprises about 61.4% of Resolute Advisors LLC's investment portfolio, making the stock its largest holding. Resolute Advisors LLC owned approximately 3.37% of Unity Software worth $304,950,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of U. The Manufacturers Life Insurance Company grew its stake in Unity Software by 5.5% during the third quarter. The Manufacturers Life Insurance Company now owns 86,602 shares of the company's stock worth $1,959,000 after buying an additional 4,497 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Unity Software by 11.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,791 shares of the company's stock valued at $1,217,000 after acquiring an additional 5,522 shares during the last quarter. Benjamin Edwards Inc. boosted its holdings in shares of Unity Software by 7,349.6% during the 3rd quarter. Benjamin Edwards Inc. now owns 26,893 shares of the company's stock valued at $608,000 after acquiring an additional 26,532 shares in the last quarter. Janus Henderson Group PLC grew its position in Unity Software by 463.7% during the 3rd quarter. Janus Henderson Group PLC now owns 119,000 shares of the company's stock worth $2,691,000 after acquiring an additional 97,889 shares during the last quarter. Finally, Quarry LP grew its position in Unity Software by 232.0% during the 3rd quarter. Quarry LP now owns 4,422 shares of the company's stock worth $100,000 after acquiring an additional 3,090 shares during the last quarter. Institutional investors own 73.46% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on U shares. Wedbush restated an "outperform" rating and set a $27.00 price target on shares of Unity Software in a report on Thursday, February 13th. Citigroup raised shares of Unity Software from a "neutral" rating to a "buy" rating and set a $30.00 target price on the stock in a report on Tuesday, March 11th. HSBC raised shares of 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. JMP Securities reaffirmed a "market perform" rating on shares of Unity Software in a report on Monday, February 3rd. Finally, Morgan Stanley lifted their price objective on Unity Software from $26.00 to $32.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. Ten research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Unity Software has an average rating of "Moderate Buy" and a consensus target price of $24.54.

Unity Software Stock Performance

NYSE U traded up $0.34 during trading on Wednesday, hitting $17.09. 2,794,850 shares of the company's stock traded hands, compared to its average volume of 10,792,908. The business has a 50 day moving average of $21.90 and a 200-day moving average of $22.20. Unity Software Inc. has a 12-month low of $13.90 and a 12-month high of $30.88. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.41 and a current ratio of 2.41. The stock has a market capitalization of $7.00 billion, a price-to-earnings ratio of -10.15 and a beta of 2.31.

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

Insider Buying and Selling at Unity Software

In other news, SVP Anirma Gupta sold 31,948 shares of the company's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $25.23, for a total value of $806,048.04. Following the completion of the transaction, the senior vice president now directly owns 542,942 shares in the company, valued at approximately $13,698,426.66. This represents a 5.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David Helgason sold 38,924 shares of the firm's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $26.92, for a total value of $1,047,834.08. Following the transaction, the director now directly owns 7,828,494 shares in the company, valued at approximately $210,743,058.48. This represents a 0.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 781,903 shares of company stock valued at $17,934,432 in the last quarter. 6.30% of the stock is currently owned by corporate insiders.

About Unity Software

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.