Amundi Decreases Stock Holdings 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 position in Unity Software Inc. (NYSE:U - Free Report) by 96.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Cornerstone Planning Group LLC increased its stake in shares of Unity Software by 30,300.0% in the first quarter. Cornerstone Planning Group LLC now owns 1,216 shares of the company's stock worth $25,000 after buying an additional 1,212 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in Unity Software in the fourth quarter valued at $36,000. GAMMA Investing LLC boosted its holdings in Unity Software by 72.5% in the first quarter. GAMMA Investing LLC now owns 2,822 shares of the company's stock valued at $55,000 after acquiring an additional 1,186 shares in the last quarter. Signaturefd LLC boosted its holdings in Unity Software by 26.3% in the first quarter. Signaturefd LLC now owns 3,658 shares of the company's stock valued at $72,000 after acquiring an additional 762 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Unity Software by 171.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,301 shares of the company's stock valued at $84,000 after acquiring an additional 2,715 shares in the last quarter. 73.46% of the stock is owned by hedge funds and other institutional investors.

Unity Software Stock Up 0.4%

Shares of U stock traded up $0.16 during mid-day trading on Friday, reaching $43.56. 9,118,851 shares of the company's stock traded hands, compared to its average volume of 10,961,926. Unity Software Inc. has a 12 month low of $15.33 and a 12 month high of $46.00. The company has a market cap of $18.40 billion, a P/E ratio of -41.09 and a beta of 2.33. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.70. The company's 50-day moving average price is $36.11 and its 200-day moving average price is $26.98.

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Unity Software from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Wells Fargo & Company lifted their price target on shares of Unity Software from $24.00 to $29.00 and gave the company an "equal weight" rating in a report on Thursday, August 7th. Bank of America assumed coverage on shares of Unity Software in a report on Thursday, June 26th. They issued an "underperform" rating and a $15.00 price target on the stock. Citigroup lifted their price target on shares of Unity Software from $29.00 to $44.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Finally, Wedbush boosted their target price on shares of Unity Software from $39.00 to $41.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, Unity Software has an average rating of "Moderate Buy" and a consensus price target of $31.20.

Insider Transactions at Unity Software

In other news, Director Shlomo Dovrat sold 50,000 shares of Unity Software stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $30.01, for a total value of $1,500,500.00. Following the completion of the transaction, the director owned 189,089 shares of the company's stock, valued at $5,674,560.89. The trade was a 20.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthew S. Bromberg sold 120,000 shares of Unity Software stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $40.03, for a total value of $4,803,600.00. Following the completion of the transaction, the chief executive officer directly owned 1,222,812 shares of the company's stock, valued at approximately $48,949,164.36. This represents a 8.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,981,485 shares of company stock worth $82,447,777 over the last quarter. Corporate insiders own 3.61% of the company's stock.

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.