Commonwealth Equity Services LLC Has $1.16 Million Position in Unity Software Inc. (NYSE:U)

Commonwealth Equity Services LLC lessened its holdings in shares of Unity Software Inc. (NYSE:U) by 12.3% in the second quarter, according to its most recent filing with the SEC. The firm owned 71,520 shares of the company’s stock after selling 10,026 shares during the period. Commonwealth Equity Services LLC’s holdings in Unity Software were worth $1,163,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Unity Software in the 4th quarter valued at about $379,180,000. Capital International Investors increased its stake in Unity Software by 426.1% in the first quarter. Capital International Investors now owns 7,872,413 shares of the company’s stock valued at $210,193,000 after purchasing an additional 6,376,034 shares in the last quarter. Capital Research Global Investors raised its holdings in Unity Software by 510.2% in the fourth quarter. Capital Research Global Investors now owns 7,181,661 shares of the company’s stock worth $293,658,000 after purchasing an additional 6,004,655 shares during the period. Nikko Asset Management Americas Inc. boosted its position in shares of Unity Software by 32.6% during the first quarter. Nikko Asset Management Americas Inc. now owns 11,326,547 shares of the company’s stock worth $302,419,000 after purchasing an additional 2,787,058 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Unity Software by 30.4% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,909,509 shares of the company’s stock valued at $317,984,000 after buying an additional 2,777,884 shares during the period. Institutional investors own 73.46% of the company’s stock.

Unity Software Price Performance

NYSE:U opened at $20.30 on Tuesday. Unity Software Inc. has a 52 week low of $13.90 and a 52 week high of $43.54. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.36 and a current ratio of 2.36. The firm’s 50-day simple moving average is $16.53 and its 200 day simple moving average is $20.20. The firm has a market cap of $8.06 billion, a price-to-earnings ratio of -9.06 and a beta of 2.25.

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

Insider Transactions at Unity Software

In related news, Director David Helgason sold 250,000 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $20.59, for a total transaction of $5,147,500.00. Following the sale, the director now owns 8,201,851 shares of the company’s stock, valued at approximately $168,876,112.09. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Unity Software news, Director David Helgason sold 250,000 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $20.59, for a total value of $5,147,500.00. Following the sale, the director now owns 8,201,851 shares in the company, valued at approximately $168,876,112.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Felix The sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $17.89, for a total transaction of $536,700.00. Following the transaction, the senior vice president now owns 423,679 shares of the company’s stock, valued at approximately $7,579,617.31. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 284,672 shares of company stock valued at $5,762,015. 6.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on U shares. Stifel Nicolaus lifted their price objective on Unity Software from $20.00 to $25.00 and gave the company a “buy” rating in a report on Friday. Morgan Stanley raised shares of Unity Software from an “equal weight” rating to an “overweight” rating and set a $22.00 price target on the stock in a research note on Tuesday, September 3rd. Benchmark lowered their price objective on shares of Unity Software from $16.00 to $10.00 and set a “sell” rating for the company in a research report on Friday, August 9th. The Goldman Sachs Group cut their price objective on shares of Unity Software from $26.00 to $22.50 and set a “neutral” rating on the stock in a research report on Friday, August 9th. Finally, Macquarie lowered their target price on Unity Software from $14.00 to $12.00 and set an “underperform” rating for the company in a report on Friday, August 9th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Unity Software has a consensus rating of “Hold” and an average target price of $27.25.

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.