DAVENPORT & Co LLC trimmed its stake in Unity Software Inc. (NYSE:U – Free Report) by 6.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investors owned 18,502 shares of the company’s stock after selling 1,310 shares during the period. DAVENPORT & Co LLC’s holdings in Unity Software were worth $600,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. BI Asset Management Fondsmaeglerselskab AS bought a new position in shares of Unity Software in the 4th quarter worth $87,000. Aviance Capital Partners LLC acquired a new position in Unity Software during the 4th quarter valued at about $286,000. Kestra Advisory Services LLC increased its position in Unity Software by 20.2% during the 4th quarter. Kestra Advisory Services LLC now owns 18,493 shares of the company’s stock valued at $529,000 after buying an additional 3,114 shares in the last quarter. China Universal Asset Management Co. Ltd. acquired a new position in Unity Software during the 4th quarter valued at about $373,000. Finally, Creative Planning increased its position in Unity Software by 1.8% during the 4th quarter. Creative Planning now owns 91,933 shares of the company’s stock valued at $2,628,000 after buying an additional 1,636 shares in the last quarter. 68.82% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several research analysts recently issued reports on the company. Morgan Stanley upped their target price on Unity Software from $27.50 to $28.00 in a research report on Thursday, May 11th. Needham & Company LLC reaffirmed a “buy” rating and set a $44.00 target price on shares of Unity Software in a research report on Friday, April 14th. DA Davidson increased their price objective on Unity Software from $45.00 to $50.00 in a report on Wednesday, June 28th. JMP Securities initiated coverage on Unity Software in a report on Thursday, June 29th. They issued a “market perform” rating on the stock. Finally, Wells Fargo & Company initiated coverage on Unity Software in a report on Tuesday, June 27th. They issued an “overweight” rating and a $48.00 price objective on the stock. One equity research analyst has rated the stock with a sell rating, seven have been given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $41.35.
Insiders Place Their Bets
In other Unity Software news, Director Shlomo Dovrat sold 12,591 shares of the stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $30.10, for a total transaction of $378,989.10. Following the transaction, the director now owns 5,495,614 shares in the company, valued at $165,417,981.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible via the SEC website. In other news, Director Shlomo Dovrat sold 12,591 shares of the firm’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $30.10, for a total value of $378,989.10. Following the transaction, the director now owns 5,495,614 shares in the company, valued at $165,417,981.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Tomer Bar-Zeev sold 75,000 shares of the firm’s stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $45.82, for a total value of $3,436,500.00. Following the completion of the transaction, the insider now owns 1,376,459 shares in the company, valued at approximately $63,069,351.38. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 473,671 shares of company stock worth $17,644,974. 9.00% of the stock is owned by corporate insiders.
Unity Software Stock Up 2.9 %
Shares of U opened at $48.51 on Thursday. Unity Software Inc. has a 52 week low of $21.22 and a 52 week high of $58.63. The company has a quick ratio of 2.39, a current ratio of 2.39 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $18.37 billion, a price-to-earnings ratio of -16.06 and a beta of 2.37. The stock’s 50-day moving average price is $37.08 and its 200-day moving average price is $33.22.
Unity Software (NYSE:U – Get Free Report) last issued its earnings results on Wednesday, May 10th. The company reported ($0.37) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.12. The firm had revenue of $500.36 million for the quarter, compared to the consensus estimate of $477.42 million. Unity Software had a negative return on equity of 23.63% and a negative net margin of 63.42%. On average, sell-side analysts predict that Unity Software Inc. will post -1.05 EPS for the current year.
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.
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