Unity Software Inc. $U Shares Sold by Rhumbline Advisers

Rhumbline Advisers decreased its stake in Unity Software Inc. (NYSE:U) by 9.2% during the 2nd quarter, Holdings Channel reports. The firm owned 287,740 shares of the company’s stock after selling 29,193 shares during the quarter. Rhumbline Advisers’ holdings in Unity Software were worth $6,963,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Cetera Investment Advisers grew its holdings in shares of Unity Software by 52.9% during the first quarter. Cetera Investment Advisers now owns 88,810 shares of the company’s stock worth $1,740,000 after buying an additional 30,726 shares in the last quarter. US Bancorp DE increased its holdings in shares of Unity Software by 110.1% during the 1st quarter. US Bancorp DE now owns 26,860 shares of the company’s stock worth $526,000 after buying an additional 14,074 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Unity Software by 19.2% in the first quarter. PNC Financial Services Group Inc. now owns 8,936 shares of the company’s stock valued at $175,000 after purchasing an additional 1,439 shares during the period. Blair William & Co. IL raised its holdings in Unity Software by 8.6% in the 1st quarter. Blair William & Co. IL now owns 154,958 shares of the company’s stock valued at $3,036,000 after buying an additional 12,242 shares during the period. Finally, Encompass More Asset Management lifted its holdings in shares of Unity Software by 14.2% in the 1st quarter. Encompass More Asset Management now owns 76,242 shares of the company’s stock worth $1,494,000 after acquiring an additional 9,463 shares during the last quarter. 73.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on U. BTIG Research raised Unity Software from a “sell” rating to a “neutral” rating in a research note on Friday, October 31st. Wall Street Zen downgraded shares of Unity Software from a “buy” rating to a “hold” rating in a research note on Friday, November 28th. Wedbush increased their price target on shares of Unity Software from $50.00 to $55.00 and gave the company an “outperform” rating in a research note on Tuesday. Hsbc Global Res lowered Unity Software from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 30th. Finally, Wells Fargo & Company raised their target price on shares of Unity Software from $37.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Unity Software presently has an average rating of “Hold” and an average price target of $39.99.

Insiders Place Their Bets

In other news, CFO Jarrod Yahes sold 34,719 shares of Unity Software stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $41.38, for a total transaction of $1,436,672.22. Following the completion of the transaction, the chief financial officer owned 573,871 shares of the company’s stock, valued at $23,746,781.98. The trade was a 5.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Alexander Blum sold 40,693 shares of Unity Software stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $41.38, for a total transaction of $1,683,876.34. Following the transaction, the chief operating officer owned 563,118 shares of the company’s stock, valued at approximately $23,301,822.84. The trade was a 6.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 2,506,658 shares of company stock valued at $107,478,975. Company insiders own 3.61% of the company’s stock.

Unity Software Trading Up 3.0%

Shares of U stock opened at $44.43 on Wednesday. The business’s fifty day moving average price is $38.89 and its 200 day moving average price is $34.57. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.78 and a quick ratio of 2.78. The firm has a market capitalization of $19.01 billion, a PE ratio of -42.31 and a beta of 2.04. Unity Software Inc. has a 1-year low of $15.33 and a 1-year high of $46.94.

Unity Software (NYSE:U) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03. Unity Software had a negative net margin of 24.15% and a negative return on equity of 9.45%. The firm had revenue of $470.62 million for the quarter, compared to the consensus estimate of $452.87 million. During the same quarter in the previous year, the firm earned ($0.31) earnings per share. The firm’s revenue was up 5.4% on a year-over-year basis. As a group, sell-side analysts forecast that Unity Software Inc. will post -1.25 EPS for the current fiscal year.

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.