CenterBook Partners LP Sells 56,899 Shares of Unity Software Inc. $U

CenterBook Partners LP reduced its stake in Unity Software Inc. (NYSE:U) by 71.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,426 shares of the company’s stock after selling 56,899 shares during the period. CenterBook Partners LP’s holdings in Unity Software were worth $898,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Jefferies Financial Group Inc. bought a new position in shares of Unity Software in the second quarter worth approximately $205,000. Forum Financial Management LP purchased a new stake in Unity Software during the 2nd quarter valued at $256,000. Austin Wealth Management LLC purchased a new stake in Unity Software during the 2nd quarter valued at $208,000. PNC Financial Services Group Inc. grew its holdings in Unity Software by 148.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 22,181 shares of the company’s stock worth $537,000 after acquiring an additional 13,245 shares during the last quarter. Finally, Broad Peak Investment Advisers Pte Ltd increased its position in shares of Unity Software by 43.6% in the third quarter. Broad Peak Investment Advisers Pte Ltd now owns 2,849,437 shares of the company’s stock valued at $114,091,000 after acquiring an additional 865,179 shares during the period. Hedge funds and other institutional investors own 73.46% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on U shares. BTIG Research lowered their price objective on shares of Unity Software from $60.00 to $41.00 and set a “buy” rating for the company in a research note on Thursday, February 12th. Morgan Stanley increased their price objective on Unity Software from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Tuesday, January 13th. Arete Research upgraded Unity Software from a “neutral” rating to a “buy” rating and set a $48.00 price objective on the stock in a research report on Monday, December 1st. Oppenheimer upgraded Unity Software from a “market perform” rating to an “outperform” rating and set a $38.00 target price for the company in a report on Tuesday, February 10th. Finally, Macquarie Infrastructure upgraded shares of Unity Software from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $33.00 to $50.00 in a report on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $39.52.

Insider Transactions at Unity Software

In related news, CEO Matthew S. Bromberg sold 41,025 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $41.38, for a total value of $1,697,614.50. Following the transaction, the chief executive officer owned 1,192,541 shares in the company, valued at $49,347,346.58. The trade was a 3.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Jarrod Yahes sold 34,719 shares of the company’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $41.38, for a total value of $1,436,672.22. Following the transaction, the chief financial officer directly owned 573,871 shares in the company, valued at approximately $23,746,781.98. The trade was a 5.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,337,204 shares of company stock worth $63,108,672 over the last quarter. Corporate insiders own 3.61% of the company’s stock.

Unity Software Stock Down 1.4%

Shares of NYSE:U opened at $18.23 on Friday. The firm has a market capitalization of $7.89 billion, a P/E ratio of -18.98, a P/E/G ratio of 9.92 and a beta of 2.04. 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 stock has a 50 day moving average price of $37.16 and a 200-day moving average price of $39.08. Unity Software Inc. has a 52-week low of $15.33 and a 52-week high of $52.15.

Unity Software (NYSE:U) last issued its quarterly earnings results on Wednesday, February 11th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.04. The company had revenue of $503.09 million for 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 firm’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.30) earnings per share. As a group, equities research analysts anticipate that Unity Software Inc. will post -1.25 EPS for the current fiscal year.

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.