Ensign Peak Advisors Inc Trims Stock Holdings in Unity Software Inc. (NYSE:U)

Ensign Peak Advisors Inc lessened its position in shares of Unity Software Inc. (NYSE:U - Free Report) by 88.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 88,947 shares of the company's stock after selling 658,819 shares during the quarter. Ensign Peak Advisors Inc's holdings in Unity Software were worth $1,999,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Avanza Fonder AB bought a new position in shares of Unity Software in the 4th quarter worth about $732,000. Ariose Capital Management Ltd acquired a new position in Unity Software in the fourth quarter valued at approximately $2,299,000. Encompass More Asset Management acquired a new position in Unity Software in the fourth quarter valued at approximately $1,501,000. SteelPeak Wealth LLC bought a new position in shares of Unity Software during the 4th quarter worth approximately $221,000. Finally, R Squared Ltd bought a new stake in shares of Unity Software in the 4th quarter valued at $30,000. Institutional investors own 73.46% of the company's stock.

Unity Software Stock Performance

Shares of Unity Software stock traded up $0.07 during mid-day trading on Wednesday, hitting $22.30. 1,469,613 shares of the stock were exchanged, compared to its average volume of 10,704,194. Unity Software Inc. has a 12 month low of $13.90 and a 12 month high of $30.88. The company has a 50-day simple moving average of $20.57 and a 200 day simple moving average of $22.07. The company has a market capitalization of $9.27 billion, a P/E ratio of -13.26 and a beta of 2.29. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.41 and a current ratio of 2.41.

Unity Software (NYSE:U - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.19) EPS for the quarter, beating analysts' consensus estimates of ($0.38) by $0.19. The company had revenue of $435.00 million during the quarter, compared to the consensus estimate of $415.77 million. Unity Software had a negative return on equity of 13.40% and a negative net margin of 36.63%. Unity Software's revenue was down 5.5% on a year-over-year basis. During the same period last year, the business posted $0.28 earnings per share. Sell-side analysts anticipate that Unity Software Inc. will post -1.25 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on U shares. Needham & Company LLC reduced their price target on shares of Unity Software from $33.00 to $30.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Citigroup raised Unity Software from a "neutral" rating to a "buy" rating and set a $30.00 price target on the stock in a research note on Tuesday, March 11th. Morgan Stanley reduced their price objective on Unity Software from $32.00 to $25.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Barclays lowered their target price on Unity Software from $26.00 to $25.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 8th. Finally, Stifel Nicolaus decreased their price target on shares of Unity Software from $35.00 to $28.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $24.21.

Insider Activity

In related news, COO Alexander Blum sold 1,479 shares of the company's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $25.26, for a total value of $37,359.54. Following the transaction, the chief operating officer now owns 495,648 shares in the company, valued at approximately $12,520,068.48. This represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Tomer Bar-Zeev sold 83,333 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $25.44, for a total value of $2,119,991.52. Following the transaction, the director now directly owns 3,398,146 shares of the company's stock, valued at approximately $86,448,834.24. This trade represents a 2.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 781,785 shares of company stock valued at $18,023,491 in the last ninety days. 6.30% of the stock is currently owned by insiders.

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.