Bank of Montreal Can Sells 39,738,063 Shares of Unity Software Inc. (NYSE:U)

Bank of Montreal Can cut its holdings in shares of Unity Software Inc. (NYSE:U - Free Report) by 99.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 105,558 shares of the company's stock after selling 39,738,063 shares during the period. Bank of Montreal Can's holdings in Unity Software were worth $2,372,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its position in Unity Software by 9.7% in the 3rd quarter. Geode Capital Management LLC now owns 4,685,129 shares of the company's stock valued at $106,008,000 after acquiring an additional 413,474 shares in the last quarter. Tidal Investments LLC lifted its holdings in shares of Unity Software by 4.9% in the third quarter. Tidal Investments LLC now owns 15,410 shares of the company's stock valued at $349,000 after purchasing an additional 723 shares in the last quarter. Oddo BHF Asset Management Sas acquired a new position in shares of Unity Software during the third quarter worth about $728,000. Versant Capital Management Inc grew its holdings in shares of Unity Software by 186.9% during the fourth quarter. Versant Capital Management Inc now owns 2,812 shares of the company's stock worth $63,000 after buying an additional 1,832 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in Unity Software by 33.6% in the 4th quarter. GAMMA Investing LLC now owns 1,636 shares of the company's stock valued at $37,000 after buying an additional 411 shares during the last quarter. 73.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Benchmark upgraded shares of Unity Software from a "sell" rating to a "hold" rating in a research note on Thursday, February 20th. Jefferies Financial Group lowered their target price on Unity Software from $24.00 to $16.00 and set a "hold" rating on the stock in a research report on Monday, April 7th. JMP Securities reissued a "market perform" rating on shares of Unity Software in a research report on Monday, February 3rd. Barclays raised their price target on Unity Software from $18.00 to $26.00 and gave the company an "equal weight" rating in a research note on Friday, February 21st. Finally, Citizens Jmp raised Unity Software from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 11th. Ten research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Unity Software has an average rating of "Moderate Buy" and a consensus target price of $23.96.

Insider Buying and Selling

In other Unity Software news, Director Tomer Bar-Zeev sold 166,667 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $20.99, for a total transaction of $3,498,340.33. Following the completion of the transaction, the director now owns 3,481,479 shares in the company, valued at $73,076,244.21. This trade represents a 4.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Mark Barrysmith sold 1,595 shares of the business's stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $18.43, for a total transaction of $29,395.85. Following the completion of the sale, the chief accounting officer now directly owns 481,822 shares in the company, valued at approximately $8,879,979.46. This trade represents a 0.33 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 782,231 shares of company stock valued at $17,933,528. 6.30% of the stock is owned by company insiders.

Unity Software Stock Performance

Shares of Unity Software stock traded up $1.02 during trading hours on Tuesday, hitting $20.27. 7,351,338 shares of the company's stock traded hands, compared to its average volume of 10,908,053. The stock has a market capitalization of $8.30 billion, a price-to-earnings ratio of -12.07 and a beta of 2.31. Unity Software Inc. has a 12-month low of $13.90 and a 12-month high of $30.88. 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 has a fifty day simple moving average of $21.52 and a 200-day simple moving average of $21.99.

Unity Software (NYSE:U - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.35) by $0.05. The business had revenue of $457.10 million during the quarter, compared to the consensus estimate of $433.47 million. Unity Software had a negative net margin of 36.63% and a negative return on equity of 13.40%. Equities research analysts anticipate 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.