Capital Research Global Investors Sells 88,695 Shares of Unity Software Inc. $U

Capital Research Global Investors cut its holdings in shares of Unity Software Inc. (NYSE:U) by 0.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,044,619 shares of the company’s stock after selling 88,695 shares during the period. Capital Research Global Investors owned about 3.28% of Unity Software worth $562,368,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in U. GAMMA Investing LLC grew its position in Unity Software by 10.8% in the 3rd quarter. GAMMA Investing LLC now owns 2,967 shares of the company’s stock worth $119,000 after purchasing an additional 288 shares in the last quarter. Xponance Inc. increased its holdings in shares of Unity Software by 1.8% in the 3rd quarter. Xponance Inc. now owns 18,291 shares of the company’s stock worth $732,000 after buying an additional 328 shares during the last quarter. Allworth Financial LP lifted its stake in Unity Software by 28.4% in the second quarter. Allworth Financial LP now owns 1,865 shares of the company’s stock worth $45,000 after purchasing an additional 412 shares during the last quarter. Captrust Financial Advisors raised its holdings in Unity Software by 2.1% during the 2nd quarter. Captrust Financial Advisors now owns 22,330 shares of the company’s stock valued at $540,000 after buying an additional 462 shares during the last quarter. Finally, Stephens Inc. AR grew its position in shares of Unity Software by 4.1% in the 3rd quarter. Stephens Inc. AR now owns 11,826 shares of the company’s stock worth $474,000 after buying an additional 471 shares during the last quarter. 73.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

U has been the subject of several recent research reports. Morgan Stanley lifted their target price on shares of Unity Software from $48.00 to $52.00 and gave the company an “overweight” rating in a report on Tuesday, January 13th. Oppenheimer upgraded shares of Unity Software from a “market perform” rating to an “outperform” rating and set a $38.00 price target on the stock in a research report on Tuesday, February 10th. Wells Fargo & Company dropped their target price on shares of Unity Software from $54.00 to $38.00 and set an “overweight” rating for the company in a report on Thursday, February 12th. Citigroup lowered their target price on shares of Unity Software from $52.00 to $43.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. Finally, Jefferies Financial Group raised their price target on Unity Software from $49.00 to $55.00 and gave the company a “buy” rating in a report on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $39.73.

Insider Buying and Selling

In other Unity Software news, COO Alexander Blum sold 2,541 shares of Unity Software stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $18.76, for a total transaction of $47,669.16. Following the transaction, the chief operating officer directly owned 548,425 shares of the company’s stock, valued at $10,288,453. The trade was a 0.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Mark Barrysmith sold 10,578 shares of the business’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $18.07, for a total transaction of $191,144.46. Following the completion of the sale, the chief accounting officer directly owned 383,901 shares in the company, valued at $6,937,091.07. This trade represents a 2.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 618,343 shares of company stock worth $29,413,946 in the last 90 days. 3.61% of the stock is owned by insiders.

Unity Software Price Performance

Shares of NYSE U opened at $20.66 on Wednesday. The company has a market cap of $8.94 billion, a PE ratio of -21.52, a P/E/G ratio of 11.40 and a beta of 2.14. Unity Software Inc. has a fifty-two week low of $15.33 and a fifty-two week high of $52.15. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.84 and a current ratio of 1.84. The business has a 50-day simple moving average of $30.98 and a two-hundred day simple moving average of $37.72.

Unity Software (NYSE:U) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.04. The firm had revenue of $503.09 million during the quarter, compared to analysts’ expectations of $490.64 million. Unity Software had a negative return on equity of 4.76% and a negative net margin of 21.77%.The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period last year, the business posted ($0.30) earnings per share. As a group, equities analysts expect that Unity Software Inc. will post -1.25 EPS for the current fiscal year.

Unity Software Profile

Unity Software is a leading provider of a real-time 3D development platform that enables creators across industries to design, build and operate interactive, real-time experiences. Originally focused on the game development market, Unity’s technology now extends into sectors such as film, automotive, architecture, engineering and construction, delivering immersive content for mobile, desktop, console, augmented reality and virtual reality devices. The company’s core offering comprises a suite of authoring tools, runtime engines and cloud services that streamline the creation and deployment of interactive 3D applications.

The Unity Editor serves as the central hub where developers design scenes, script behavior and iterate on assets.