Covestor Ltd Sells 2,772 Shares of Unity Software Inc. (NYSE:U)

Covestor Ltd cut its stake in shares of Unity Software Inc. (NYSE:U) by 66.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,371 shares of the company’s stock after selling 2,772 shares during the period. Covestor Ltd’s holdings in Unity Software were worth $31,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of U. Norges Bank acquired a new position in shares of Unity Software during the fourth quarter worth $269,320,000. Connor Clark & Lunn Investment Management Ltd. raised its position in Unity Software by 366.6% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,936,131 shares of the company’s stock worth $43,505,000 after purchasing an additional 1,521,165 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in Unity Software by 541.3% during the 4th quarter. Alliancebernstein L.P. now owns 799,817 shares of the company’s stock worth $17,972,000 after buying an additional 675,099 shares during the period. Vanguard Group Inc. grew its position in shares of Unity Software by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 31,123,035 shares of the company’s stock valued at $699,335,000 after buying an additional 625,872 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Unity Software by 9.7% in the third quarter. Geode Capital Management LLC now owns 4,685,129 shares of the company’s stock valued at $106,008,000 after buying an additional 413,474 shares during the period. 73.46% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Unity Software

In other news, COO Alexander Blum sold 1,479 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $25.26, for a total transaction of $37,359.54. Following the completion of the sale, the chief operating officer now owns 495,648 shares in the company, valued at $12,520,068.48. This trade represents a 0.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Mark Barrysmith sold 1,362 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $21.91, for a total value of $29,841.42. Following the completion of the transaction, the chief accounting officer now owns 452,276 shares in the company, valued at approximately $9,909,367.16. The trade was a 0.30 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 781,447 shares of company stock worth $17,923,962. Corporate insiders own 6.30% of the company’s stock.

Unity Software Stock Up 3.6 %

Unity Software stock opened at $18.82 on Wednesday. The firm has a market capitalization of $7.71 billion, a price-to-earnings ratio of -11.20 and a beta of 2.31. The firm’s fifty day moving average price is $21.60 and its two-hundred day moving average price is $22.07. 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.

Unity Software (NYSE:U) last announced its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $433.47 million. Unity Software had a negative net margin of 36.63% and a negative return on equity of 13.40%. On average, equities research analysts predict that Unity Software Inc. will post -1.25 earnings per share for the current fiscal year.

Analyst Ratings Changes

U has been the subject of a number of recent analyst reports. Wells Fargo & Company decreased their target price on shares of Unity Software from $22.00 to $19.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 8th. UBS Group decreased their price objective on shares of Unity Software from $30.00 to $22.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Needham & Company LLC boosted their target price on shares of Unity Software from $26.00 to $33.00 and gave the company a “buy” rating in a report on Friday, February 21st. HSBC upgraded Unity Software from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a report on Friday, February 21st. Finally, Jefferies Financial Group dropped their price objective on Unity Software from $24.00 to $16.00 and set a “hold” rating on the stock in a research note on Monday, April 7th. Ten analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Unity Software presently has a consensus rating of “Moderate Buy” and an average price target of $24.46.

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.