Connor Clark & Lunn Investment Management Ltd. Trims Stake in Unity Software Inc. (NYSE:U)

Connor Clark & Lunn Investment Management Ltd. decreased its position in shares of Unity Software Inc. (NYSE:U - Free Report) by 52.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 414,966 shares of the company's stock after selling 452,840 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.10% of Unity Software worth $9,387,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of U. Farther Finance Advisors LLC lifted its holdings in shares of Unity Software by 4.0% in 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 last quarter. Advisors Asset Management Inc. lifted its stake in shares of Unity Software by 31.6% in the 1st quarter. Advisors Asset Management Inc. now owns 2,338 shares of the company's stock valued at $62,000 after acquiring an additional 562 shares during the last quarter. Venturi Wealth Management LLC raised its position 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 purchasing an additional 876 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Unity Software by 343.8% during the third quarter. GAMMA Investing LLC now owns 1,225 shares of the company's stock valued at $28,000 after purchasing an additional 949 shares in the last quarter. Finally, Intech Investment Management LLC grew its holdings in shares of Unity Software by 8.2% during the second quarter. Intech Investment Management LLC now owns 13,270 shares of the company's stock worth $216,000 after purchasing an additional 1,010 shares during the last quarter. 73.46% of the stock is owned by institutional investors.

Insider Activity

In other news, Director David Helgason sold 250,000 shares of Unity Software stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $20.59, for a total value of $5,147,500.00. Following the completion of the transaction, the director now owns 8,201,851 shares in the company, valued at $168,876,112.09. This trade represents a 2.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Felix The sold 30,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $17.89, for a total value of $536,700.00. Following the sale, the senior vice president now owns 423,679 shares in the company, valued at approximately $7,579,617.31. This represents a 6.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 534,550 shares of company stock worth $10,148,127 over the last quarter. Insiders own 6.30% of the company's stock.

Unity Software Stock Up 4.1 %

U stock opened at $22.52 on Friday. 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 $9.07 billion, a PE ratio of -11.04 and a beta of 2.29. The stock's 50 day moving average is $20.91 and its 200-day moving average is $18.69. Unity Software Inc. has a twelve month low of $13.90 and a twelve month high of $43.54.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on U. Benchmark raised their target price on Unity Software from $10.00 to $15.00 and gave the stock a "sell" rating in a research report on Friday, November 8th. Oppenheimer reaffirmed a "market perform" rating on shares of Unity Software in a research report on Friday, October 18th. UBS Group lifted their target price on Unity Software from $15.00 to $20.00 and gave the stock a "neutral" rating in a report on Friday, October 18th. Barclays lifted 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 note on Friday, November 8th. Finally, JMP Securities reissued a "market perform" rating on shares of Unity Software in a research note on Friday, September 13th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $23.35.

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.