Migdal Insurance & Financial Holdings Ltd. Sells 2,800 Shares of Unity Software Inc. (NYSE:U)

Migdal Insurance & Financial Holdings Ltd. lessened its stake in Unity Software Inc. (NYSE:U) by 22.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,565 shares of the company’s stock after selling 2,800 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Unity Software were worth $215,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in U. Charles Schwab Investment Management Inc. lifted its stake in shares of Unity Software by 100.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,886,016 shares of the company’s stock valued at $42,662,000 after buying an additional 944,709 shares during the period. Erste Asset Management GmbH acquired a new position in Unity Software in the third quarter worth about $12,317,000. Monolith Management Ltd acquired a new position in Unity Software in the third quarter worth about $10,993,000. Weiss Asset Management LP acquired a new position in Unity Software in the third quarter worth about $10,335,000. Finally, Geode Capital Management LLC raised its position in Unity Software by 9.7% in the third quarter. Geode Capital Management LLC now owns 4,685,129 shares of the company’s stock worth $106,008,000 after purchasing an additional 413,474 shares in the last quarter. Institutional investors own 73.46% of the company’s stock.

Insider Activity

In other Unity Software news, Director Tomer Bar-Zeev sold 250,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $17.52, for a total value of $4,380,000.00. Following the transaction, the director now directly owns 4,248,146 shares of the company’s stock, valued at approximately $74,427,517.92. This trade represents a 5.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Shlomo Dovrat sold 3,750 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $17.99, for a total transaction of $67,462.50. Following the completion of the transaction, the director now directly owns 2,394,935 shares in the company, valued at approximately $43,084,880.65. The trade was a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 931,154 shares of company stock valued at $21,019,520 over the last three months. 6.30% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Macquarie increased their price target on shares of Unity Software from $15.00 to $16.00 and gave the stock an “underperform” rating in a research report on Friday, November 8th. Benchmark increased their price target on shares of Unity Software from $10.00 to $15.00 and gave the stock a “sell” rating in a research report on Friday, November 8th. UBS Group increased their price target on shares of Unity Software from $21.00 to $23.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. JMP Securities reissued a “market perform” rating on shares of Unity Software in a research report on Monday, February 3rd. Finally, Oppenheimer reissued a “market perform” rating on shares of Unity Software in a research report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Unity Software presently has an average rating of “Hold” and an average target price of $22.81.

Unity Software Price Performance

U opened at $21.05 on Friday. Unity Software Inc. has a one year low of $13.90 and a one year high of $35.56. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.41 and a quick ratio of 2.41. The company’s 50 day simple moving average is $23.36 and its 200-day simple moving average is $20.61. The stock has a market capitalization of $8.48 billion, a P/E ratio of -10.32 and a beta of 2.32.

Unity Software (NYSE:U) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.31) EPS for the quarter, beating the consensus estimate of ($0.39) by $0.08. Unity Software had a negative net margin of 40.47% and a negative return on equity of 11.30%. The business had revenue of $446.52 million for the quarter, compared to analysts’ expectations of $428.01 million. During the same period in the prior year, the firm earned ($0.12) earnings per share. Sell-side analysts anticipate that Unity Software Inc. will post -1.72 earnings per share for the current fiscal year.

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.