Sumitomo Mitsui Trust Group Inc. Reduces Stock Holdings in Unity Software Inc. (NYSE:U)

Sumitomo Mitsui Trust Group Inc. reduced its holdings in Unity Software Inc. (NYSE:U - Free Report) by 27.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,542,543 shares of the company's stock after selling 2,146,842 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 1.38% of Unity Software worth $124,541,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. The Manufacturers Life Insurance Company boosted its stake in shares of Unity Software by 47.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 82,105 shares of the company's stock worth $1,335,000 after purchasing an additional 26,241 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Unity Software by 163.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,241 shares of the company's stock worth $36,000 after purchasing an additional 1,389 shares during the period. Handelsbanken Fonder AB boosted its position in Unity Software by 20.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 60,500 shares of the company's stock valued at $1,369,000 after buying an additional 10,200 shares during the period. GAMMA Investing LLC boosted its position in Unity Software by 343.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,225 shares of the company's stock valued at $28,000 after buying an additional 949 shares during the period. Finally, CWM LLC boosted its position in Unity Software by 19.6% in the 3rd quarter. CWM LLC now owns 11,243 shares of the company's stock valued at $254,000 after buying an additional 1,845 shares during the period. 73.46% of the stock is owned by hedge funds and other institutional investors.

Unity Software Stock Down 3.1 %

Shares of NYSE U traded down $0.65 during trading hours on Monday, hitting $20.40. 9,613,039 shares of the stock were exchanged, compared to its average volume of 8,746,598. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.70. The company has a market cap of $8.22 billion, a PE ratio of -10.00 and a beta of 2.32. The firm has a fifty day moving average price of $23.30 and a 200-day moving average price of $20.70. Unity Software Inc. has a 12 month low of $13.90 and a 12 month high of $35.56.

Unity Software (NYSE:U - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.31) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.08. The firm had revenue of $446.52 million during the quarter, compared to analyst estimates of $428.01 million. Unity Software had a negative net margin of 40.47% and a negative return on equity of 11.30%. During the same quarter in the previous year, the business posted ($0.12) EPS. On average, sell-side analysts expect that Unity Software Inc. will post -1.72 EPS for the current year.

Insider Buying and Selling

In other Unity Software news, SVP Felix The sold 11,719 shares of the company's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $24.39, for a total transaction of $285,826.41. Following the transaction, the senior vice president now owns 411,960 shares in the company, valued at approximately $10,047,704.40. This represents a 2.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Tomer Bar-Zeev sold 250,000 shares of the company's stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $17.52, for a total transaction of $4,380,000.00. Following the transaction, the director now owns 4,248,146 shares in the company, valued at $74,427,517.92. The trade was a 5.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 931,154 shares of company stock worth $21,019,520 in the last 90 days. 6.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

U has been the subject of several research reports. Wells Fargo & Company initiated coverage on shares of Unity Software in a research report on Monday, October 28th. They issued an "equal weight" rating and a $20.00 price objective for the company. Macquarie boosted their price objective on shares of Unity Software from $15.00 to $16.00 and gave the company an "underperform" rating in a research report on Friday, November 8th. Needham & Company LLC boosted their price objective on shares of Unity Software from $23.00 to $26.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Barclays boosted their price objective on shares of Unity Software from $16.00 to $18.00 and gave the company an "equal weight" rating in a research report on Friday, November 8th. Finally, UBS Group boosted their price objective on shares of Unity Software from $21.00 to $23.00 and gave the company a "neutral" rating in a research report on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $22.81.

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.