National Asset Management Inc. reduced its stake in shares of Unity Software Inc. (NYSE: U – Get Rating) by 96.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission . The institutional investor held 3,470 shares of the company after selling 101,397 shares during the quarter. National Asset Management Inc.’s holdings in Unity Software were worth $346,000 when it last filed with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently increased or reduced their stakes in the stock. DAVENPORT & Co LLC increased its stake in Unity Software by 50.5% during the first quarter. DAVENPORT & Co LLC now owns 11,287 shares of the company worth $1,120,000 after purchasing an additional 3,785 shares last quarter. Atria Investments LLC acquired a new position in shares of Unity Software in Q1 worth $1,028,000. Steward Partners Investment Advisory LLC increased its stake in Unity Software shares by 83.1% in Q1. Steward Partners Investment Advisory LLC now owns 3,333 shares of the company valued at $331,000 after acquiring 1,513 additional shares during the period. Migdal Insurance & Financial Holdings Ltd. increased its stake in Unity Software shares by 441.6% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 6,120 shares of the company valued at $619,000 after acquiring an additional 4,990 shares during the period. Finally, Signaturefd LLC increased its stake in Unity Software shares by 102.6% in the 1st quarter. Signaturefd LLC now owns 2,348 shares of the company valued at $233,000 after acquiring an additional 1,189 shares during the period. Institutional investors and hedge funds hold 75.48% of the company’s shares.
Insider buying and selling
Separately, CFO Luis Felipe Visoso sold 33,804 shares of the company in a transaction dated Thursday, May 26. The shares were sold at an average price of $38.17, for a total value of $1,290,298.68. Following the sale, the CFO now directly owns 324,145 shares of the company, valued at approximately $12,372,614.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this link. Separately, SVP Marc Whitten sold 3,433 shares of the company in a transaction dated Monday, May 2. The shares were sold at an average price of $65.54, for a total value of $224,998.82. Following the completion of the transaction, the senior vice president now owns 270,798 shares of the company, valued at approximately $17,748,100.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Additionally, Chief Financial Officer Luis Felipe Visoso sold 33,804 shares of the company in a transaction dated Thursday, May 26. The shares were sold at an average price of $38.17, for a total transaction of $1,290,298.68. Following the completion of the transaction, the CFO now directly owns 324,145 shares of the company, valued at approximately $12,372,614.65. The disclosure of this sale can be found here. Insiders have sold 59,338 shares of the company worth $2,394,305 over the past three months. Company insiders own 6.90% of the company’s shares.
Wall Street analysts predict growth
A number of stock analysts have recently commented on U shares. KeyCorp began covering Unity Software shares in a report on Thursday, June 30. They issued a “sector weight” rating on the stock. Goldman Sachs Group cut its price target on Unity Software shares from $154.00 to $137.00 and set a “buy” rating on the stock in a Thursday, April 14 report. Benchmark began covering Unity Software stocks in a Wednesday, June 15 report. They issued a “sell” rating and a target price of $27.00 on the stock. Wedbush reduced its target price on Unity Software shares from $125.00 to $70.00 in a Wednesday, May 11 report. Finally, BTIG Research lowered its price target on Unity Software shares from $110.00 to $72.00 and set a “buy” rating on the stock in a Wednesday, June 29 research report. One equity research analyst has assigned the stock a sell rating, six have issued a hold rating and nine have assigned the stock a buy rating. Based on data from MarketBeat.com, Unity Software currently has a consensus rating of “Moderate Buy” and an average price target of $89.13.
Unity Software Price Performance
NYSE U shares opened at $37.39 on Friday. The company has a market capitalization of $11.07 billion, a P/E ratio of -17.80 and a beta of 2.37. Unity Software Inc. has a one-year minimum of $29.09 and a one-year maximum of $210.00. The company’s fifty-day moving average is $38.91 and its two-hundred-day moving average is $71.77. The company has a debt ratio of 0.72, a quick ratio of 3.53 and a current ratio of 3.53.
Unity Software (NYSE:U – Get Rating) last released its quarterly earnings data on Tuesday, May 10. The company reported ($0.44) EPS for the quarter, missing the ($0.40) consensus estimate of ($0.04). Unity Software posted a negative return on equity of 20.50% and a negative net margin of 50.40%. The company posted revenue of $320.13 million in the quarter, compared to $321.17 million expected by analysts. In the same quarter a year earlier, the company earned $0.38 per share. Unity Software’s quarterly revenue increased 36.4% year over year. Analysts expect Unity Software Inc. to post -1.68 EPS for the current fiscal year.
About Unity Software
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Unity Software Inc operates a real-time 3D development platform. Its platform provides software solutions to create, run and monetize real-time interactive 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, United Kingdom, Germany, Japan, China, Singapore and South Korea. Sud, as well as indirectly through independent distributors and resellers worldwide.
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