Bank of New York Mellon Corp Sells 24,050 Shares of Unity Software Inc. (NYSE:U)

Bank of New York Mellon Corp trimmed its position in Unity Software Inc. (NYSE:U - Free Report) by 1.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,263,349 shares of the company's stock after selling 24,050 shares during the period. Bank of New York Mellon Corp owned 0.31% of Unity Software worth $28,387,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in shares of Unity Software by 33.6% during the fourth quarter. GAMMA Investing LLC now owns 1,636 shares of the company's stock worth $37,000 after purchasing an additional 411 shares during the period. Principal Securities Inc. grew its position in shares of Unity Software by 50.5% during the 4th quarter. Principal Securities Inc. now owns 1,422 shares of the company's stock valued at $32,000 after buying an additional 477 shares during the last quarter. Farther Finance Advisors LLC raised its stake in Unity Software by 4.0% during the third quarter. Farther Finance Advisors LLC now owns 13,947 shares of the company's stock worth $315,000 after acquiring an additional 538 shares during the period. Tidal Investments LLC lifted its holdings in Unity Software by 4.9% in the third quarter. Tidal Investments LLC now owns 15,410 shares of the company's stock worth $349,000 after acquiring an additional 723 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its stake in Unity Software by 28.7% in the third quarter. Venturi Wealth Management LLC now owns 3,923 shares of the company's stock valued at $89,000 after acquiring an additional 876 shares during the period. 73.46% of the stock is owned by institutional investors.

Remove Ads

Insider Activity

In related news, CFO Mark Barrysmith sold 1,228 shares of the firm's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $24.44, for a total transaction of $30,012.32. Following the transaction, the chief financial officer now owns 453,638 shares of the company's stock, valued at approximately $11,086,912.72. This trade represents a 0.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 sale, the senior vice president now owns 542,942 shares of the company's stock, valued at approximately $13,698,426.66. This trade represents a 5.56 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 864,537 shares of company stock worth $20,839,722. Corporate insiders own 6.30% of the company's stock.

Unity Software Price Performance

U traded down $0.59 during trading on Tuesday, reaching $20.92. The stock had a trading volume of 3,808,792 shares, compared to its average volume of 12,612,285. The stock has a 50 day moving average of $22.93 and a two-hundred day moving average of $21.86. 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 firm has a market capitalization of $8.57 billion, a price-to-earnings ratio of -12.53 and a beta of 2.27. Unity Software Inc. has a 1-year low of $13.90 and a 1-year high of $30.88.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on U. Wells Fargo & Company dropped their price target on Unity Software from $27.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Monday. Morgan Stanley increased their target price on Unity Software from $26.00 to $32.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. Benchmark raised shares of Unity Software from a "sell" rating to a "hold" rating in a report on Thursday, February 20th. Needham & Company LLC upped their price target on shares of Unity Software from $26.00 to $33.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Finally, Macquarie initiated coverage on shares of Unity Software in a research report on Monday. They issued a "neutral" rating and a $24.00 price objective on the stock. Ten analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Unity Software has an average rating of "Hold" and a consensus target price of $25.61.

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.