Unity Software Inc. $U Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. trimmed its holdings in Unity Software Inc. (NYSE:U) by 44.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 21,872 shares of the company’s stock after selling 17,508 shares during the quarter. Vontobel Holding Ltd.’s holdings in Unity Software were worth $876,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in U. Jefferies Financial Group Inc. acquired a new stake in Unity Software during the 2nd quarter worth approximately $205,000. Forum Financial Management LP acquired a new position in shares of Unity Software in the second quarter valued at approximately $256,000. Austin Wealth Management LLC purchased a new stake in shares of Unity Software during the second quarter worth approximately $208,000. PNC Financial Services Group Inc. lifted its holdings in shares of Unity Software by 148.2% during the second quarter. PNC Financial Services Group Inc. now owns 22,181 shares of the company’s stock worth $537,000 after purchasing an additional 13,245 shares during the period. Finally, State of Wyoming purchased a new position in Unity Software in the 2nd quarter valued at $721,000. Hedge funds and other institutional investors own 73.46% of the company’s stock.

Unity Software Stock Down 0.7%

Shares of NYSE U opened at $45.12 on Monday. The stock has a market capitalization of $19.31 billion, a price-to-earnings ratio of -42.97 and a beta of 2.04. Unity Software Inc. has a 52 week low of $15.33 and a 52 week high of $52.15. The firm has a 50-day moving average price of $41.61 and a 200 day moving average price of $37.41. The company has a quick ratio of 2.78, a current ratio of 2.78 and a debt-to-equity ratio of 0.70.

Unity Software (NYSE:U) last issued its earnings results on Wednesday, November 5th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $470.62 million for the quarter, compared to analyst estimates of $452.87 million. During the same period in the prior year, the business posted ($0.31) earnings per share. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. Equities research analysts anticipate that Unity Software Inc. will post -1.25 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, COO Alexander Blum sold 1,988 shares of the firm’s stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $42.47, for a total value of $84,430.36. Following the completion of the transaction, the chief operating officer directly owned 561,130 shares of the company’s stock, valued at $23,831,191.10. This trade represents a 0.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David Helgason sold 8,347 shares of the business’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $49.16, for a total value of $410,338.52. Following the sale, the director owned 7,635 shares in the company, valued at approximately $375,336.60. The trade was a 52.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 1,901,471 shares of company stock worth $85,264,529. 3.61% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

U has been the subject of a number of analyst reports. Morgan Stanley upped their price objective on shares of Unity Software from $40.00 to $44.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. Deutsche Bank Aktiengesellschaft started coverage on shares of Unity Software in a research note on Wednesday, October 22nd. They set a “hold” rating and a $39.00 price target on the stock. Macquarie upgraded shares of Unity Software from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $33.00 to $50.00 in a research report on Friday, November 7th. Citigroup lifted their price objective on Unity Software from $50.00 to $52.00 and gave the company a “buy” rating in a report on Tuesday, November 11th. Finally, Piper Sandler upgraded Unity Software from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $43.00 to $59.00 in a research report on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $43.04.

About Unity Software

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.