Unity Software Inc. (NYSE:U) Stake Cut by TD Asset Management Inc

TD Asset Management Inc reduced its holdings in Unity Software Inc. (NYSE:U) by 44.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,462 shares of the company’s stock after selling 17,107 shares during the period. TD Asset Management Inc’s holdings in Unity Software were worth $349,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Principal Securities Inc. bought a new position in shares of Unity Software in the 4th quarter valued at approximately $37,000. Tidemark LLC bought a new position in shares of Unity Software in the 4th quarter valued at approximately $39,000. Tradewinds Capital Management LLC raised its stake in shares of Unity Software by 245.6% in the 1st quarter. Tradewinds Capital Management LLC now owns 985 shares of the company’s stock valued at $26,000 after acquiring an additional 700 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in shares of Unity Software by 2,429.3% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,037 shares of the company’s stock valued at $28,000 after acquiring an additional 996 shares in the last quarter. Finally, Advisors Asset Management Inc. raised 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 in the last quarter. 73.46% of the stock is owned by hedge funds and other institutional investors.

Unity Software Price Performance

Shares of NYSE:U opened at $19.91 on Monday. Unity Software Inc. has a 1-year low of $13.90 and a 1-year high of $43.54. The firm has a market capitalization of $7.90 billion, a PE ratio of -8.89 and a beta of 2.25. The business’s 50 day moving average is $16.44 and its 200-day moving average is $20.26. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 0.70.

Unity Software (NYSE:U) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.12. The company had revenue of $449.30 million for the quarter, compared to analyst estimates of $438.37 million. Unity Software had a negative return on equity of 8.78% and a negative net margin of 38.52%. Unity Software’s revenue for the quarter was down 15.8% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.26) EPS. Sell-side analysts predict that Unity Software Inc. will post -1.86 earnings per share for the current year.

Insider Activity at Unity Software

In related news, SVP Anirma Gupta sold 1,506 shares of the business’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $16.73, for a total value of $25,195.38. Following the sale, the senior vice president now owns 409,540 shares of the company’s stock, valued at approximately $6,851,604.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Unity Software news, SVP Felix The sold 30,000 shares of Unity Software 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 completion of the transaction, the senior vice president now owns 423,679 shares in the company, valued at approximately $7,579,617.31. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Anirma Gupta sold 1,506 shares of Unity Software stock in a transaction on Monday, July 29th. The shares were sold at an average price of $16.73, for a total value of $25,195.38. Following the completion of the transaction, the senior vice president now owns 409,540 shares of the company’s stock, valued at approximately $6,851,604.20. The disclosure for this sale can be found here. Insiders have sold a total of 285,472 shares of company stock valued at $5,775,071 in the last 90 days. 6.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Stifel Nicolaus raised their price objective on Unity Software from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Friday. Needham & Company LLC cut their price objective on Unity Software from $31.00 to $23.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. The Goldman Sachs Group dropped their price target on Unity Software from $26.00 to $22.50 and set a “neutral” rating on the stock in a research report on Friday, August 9th. Piper Sandler reaffirmed a “neutral” rating and issued a $17.00 price target (down from $25.00) on shares of Unity Software in a research report on Friday, August 9th. Finally, Benchmark dropped their price target on Unity Software from $16.00 to $10.00 and set a “sell” rating on the stock in a research report on Friday, August 9th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $26.82.

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.