Amundi Has $2.53 Million Stake in Unity Software Inc. $U

Key Points

• Amundi reduced its holdings in Unity Software by 96.1%, selling 3,462,826 shares, leaving it with 138,999 shares valued at approximately $2.53 million.
• Several other institutional investors have increased their stakes in Unity Software, including Cornerstone Planning Group LLC which raised its stake by 30,300% in the first quarter.
• Unity Software reported a loss of ($0.26) per share for the most recent quarter, which was below analyst expectations; however, its revenue of $440.94 million exceeded estimates.

Amundi trimmed its stake in shares of Unity Software Inc. (NYSE:U - Free Report) by 96.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 138,999 shares of the company's stock after selling 3,462,826 shares during the quarter. Amundi's holdings in Unity Software were worth $2,528,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Atreides Management LP boosted its stake in Unity Software by 146.7% in the 1st quarter. Atreides Management LP now owns 9,430,955 shares of the company's stock valued at $184,752,000 after buying an additional 5,607,572 shares in the last quarter. Broad Peak Investment Advisers Pte Ltd acquired a new stake in shares of Unity Software in the 1st quarter valued at $47,648,000. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Unity Software in the 1st quarter valued at $43,265,000. Vanguard Group Inc. boosted its stake in shares of Unity Software by 5.9% in the 1st quarter. Vanguard Group Inc. now owns 32,964,521 shares of the company's stock valued at $645,775,000 after purchasing an additional 1,841,486 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of Unity Software by 89.7% in the 1st quarter. Ameriprise Financial Inc. now owns 3,357,530 shares of the company's stock valued at $65,778,000 after purchasing an additional 1,587,582 shares in the last quarter. 73.46% of the stock is owned by institutional investors and hedge funds.

Unity Software Price Performance

Unity Software stock traded down $0.33 during mid-day trading on Wednesday, reaching $45.59. The company had a trading volume of 7,216,929 shares, compared to its average volume of 10,839,886. Unity Software Inc. has a fifty-two week low of $15.33 and a fifty-two week high of $46.94. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.70. The company has a market cap of $19.26 billion, a P/E ratio of -43.01 and a beta of 2.33. The business has a fifty day simple moving average of $37.14 and a 200 day simple moving average of $27.39.

Unity Software (NYSE:U - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.01). Unity Software had a negative net margin of 24.38% and a negative return on equity of 13.59%. The firm had revenue of $440.94 million for the quarter, compared to analyst estimates of $425.18 million. During the same period last year, the business earned ($0.32) EPS. The company's revenue was down 1.9% compared to the same quarter last year. On average, equities research analysts predict that Unity Software Inc. will post -1.25 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on U shares. Jefferies Financial Group boosted their price target on shares of Unity Software from $29.00 to $35.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. UBS Group boosted their target price on Unity Software from $22.00 to $33.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Wells Fargo & Company boosted their target price on Unity Software from $24.00 to $29.00 and gave the stock an "equal weight" rating in a report on Thursday, August 7th. BTIG Research lowered Unity Software from a "neutral" rating to a "sell" rating and set a $25.00 price objective on the stock. in a research note on Wednesday, July 23rd. Finally, JMP Securities boosted their price objective on Unity Software from $30.00 to $35.00 and gave the stock a "market outperform" rating in a research note on Thursday, August 7th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $31.20.

Insider Activity

In related news, COO Alexander Blum sold 63,813 shares of Unity Software stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $39.41, for a total transaction of $2,514,870.33. Following the sale, the chief operating officer directly owned 603,811 shares in the company, valued at $23,796,191.51. This trade represents a 9.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David Helgason sold 1,350,000 shares of Unity Software stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $44.43, for a total transaction of $59,980,500.00. Following the sale, the director owned 6,139,173 shares in the company, valued at approximately $272,763,456.39. This represents a 18.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,134,426 shares of company stock valued at $89,426,284. 3.61% of the stock is currently owned by company insiders.

Unity Software Company 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.